Waxes; Artificial, Prepared Price in Iraq - 2022

Waxes; Artificial, Prepared Price in Iraq (CIF) - 2022

The average waxes; artificial, prepared import price stood at $1,785 per ton in 2022, jumping by 30% against the previous year. Overall, the import price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2013 an increase of 45% against the previous year. The import price peaked at $5,551 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($4,207 per ton), while the price for Iran ($410 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Waxes; Artificial, Prepared Price in Iraq (FOB) - 2022

The average waxes; artificial, prepared export price stood at $2,594 per ton in 2022, approximately mirroring the previous year. Overall, the export price continues to indicate a pronounced reduction. The growth pace was the most rapid in 2017 a decrease of -3.3%. Over the period under review, the average export prices hit record highs at $2,996 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2016 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +1.3% per year.

Waxes; Artificial, Prepared Imports in Iraq

In 2022, the amount of waxes; artificial, prepared imported into Iraq shrank significantly to 900 tons, which is down by -17.4% on the year before. Over the period under review, imports continue to indicate a pronounced decline. The growth pace was the most rapid in 2021 when imports increased by 49% against the previous year. As a result, imports reached the peak of 1.1K tons, and then declined sharply in the following year.

In value terms, waxes; artificial, prepared imports amounted to $1.6M in 2022. In general, imports showed a deep downturn.

Import of Waxes; Artificial, Prepared in Iraq (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,179	792	742	672	-17.1%
Iran	247	219	208	184	-9.3%
Italy	96.3	148	39.8	139	13.0%
Turkey	295	240	209	135	-22.9%
United Arab Emirates	6.5	7.6	7.6	50.7	98.3%
Indonesia	20.4	15.6	11.3	8.5	-25.3%
Others	169	294	279	417	35.1%
Total	2,014	1,716	1,497	1,606	-7.3%

Top Suppliers of Waxes; Artificial, Prepared to Iraq in 2022:

Iran (449.4 tons)
China (284.0 tons)
Turkey (40.2 tons)
Italy (33.0 tons)
United Arab Emirates (14.0 tons)
Indonesia (4.9 tons)

Waxes; Artificial, Prepared Exports in Iraq

Waxes; artificial, prepared exports from Iraq was estimated at 4.5 tons in 2022, approximately equating the year before. In general, exports showed a abrupt shrinkage. The smallest decline of 99.9% was in 2021.

In value terms, waxes; artificial, prepared exports totaled $12K in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The smallest decline of 99.9% was in 2021.