Iraq: Chocolate Market 2024

Chocolate Market Size in Iraq

The Iraqi chocolate market fell to $X in 2023, shrinking by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2022, and then declined in the following year.

Chocolate Production in Iraq

In value terms, chocolate production reduced to $X in 2023 estimated in export price. In general, production continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Chocolate Exports

Exports from Iraq

In 2023, overseas shipments of chocolate and cocoa products were finally on the rise to reach X tons after three years of decline. Over the period under review, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, chocolate exports stood at $X in 2023. Overall, exports recorded a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

Ukraine (X tons), Turkey (X tons) and the UK (X tons) were the main destinations of chocolate exports from Iraq, together comprising X% of total exports. These countries were followed by Germany, which accounted for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) emerged as the key foreign market for chocolate and cocoa products exports from Iraq, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Germany (X% per year).

Export Prices by Country

In 2023, the average chocolate export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%).

Chocolate Imports

Imports into Iraq

In 2023, the amount of chocolate and cocoa products imported into Iraq reduced modestly to X tons, leveling off at 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, chocolate imports declined to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2023, Turkey (X tons) constituted the largest supplier of chocolate to Iraq, with a X% share of total imports. Moreover, chocolate imports from Turkey exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Turkey stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Netherlands (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of chocolate and cocoa products to Iraq, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Egypt, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Turkey totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2023, the average chocolate import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform