Report Update: May 1, 2024

Iraq - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights

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Price for Processed Petroleum Oils and Distillates in Iraq - 2022

Price for Processed Petroleum Oils and Distillates in Iraq (CIF) - 2022

In 2022, the average import price for processed petroleum oils and distillates amounted to $586 per ton, declining by -4% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, processed petroleum oils and distillates import price increased by +9.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 88% against the previous year. Over the period under review, average import prices hit record highs at $922 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($1,314 per ton), while the price for the Netherlands ($463 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+92.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Processed Petroleum Oils and Distillates in Iraq (FOB) - 2022

The average export price for processed petroleum oils and distillates stood at $287 per ton in 2022, leveling off at the previous year. Over the period under review, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices reached the peak figure at $1,650 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Oman ($508 per ton), while the average price for exports to Turkey ($174 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-6.5%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates in Iraq

Processed petroleum oils and distillates imports into Iraq shrank sharply to 7.5M tons in 2022, waning by -25.8% compared with the previous year. In general, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 107%. As a result, imports attained the peak of 10M tons, and then fell dramatically in the following year.

In value terms, processed petroleum oils and distillates imports reduced markedly to $4.4B in 2022. Overall, imports, however, recorded pronounced growth. The most prominent rate of growth was recorded in 2021 when imports increased by 135% against the previous year. As a result, imports reached the peak of $6.1B, and then dropped rapidly in the following year.

Import of Processed Petroleum Oils and Distillates in Iraq (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	2,578	2,353	3,450	2,959	4.7%
India	834	82.4	541	407	-21.3%
Malaysia	N/A	3.9	351	317	801.6%
Taiwan (Chinese)	N/A	N/A	130	223	71.5%
South Korea	7.4	5.2	80.9	122	154.5%
China	0.6	0.3	27.1	77.7	405.9%
Netherlands	42.1	5.9	178	63.3	14.6%
Turkey	188	87.8	129	49.2	-36.0%
Iran	N/A	N/A	462	N/A	0%
Others	213	64.6	778	147	-11.6%
Total	3,864	2,603	6,127	4,365	4.1%

Top Suppliers of Processed Petroleum Oils and Distillates to Iraq in 2022:

United Arab Emirates (5480.7K tons)
India (674.5K tons)
Malaysia (489.0K tons)
South Korea (199.9K tons)
Taiwan (Chinese) (169.8K tons)
Netherlands (136.9K tons)
China (125.5K tons)
Turkey (55.7K tons)

Exports of Processed Petroleum Oils and Distillates in Iraq

In 2022, processed petroleum oils and distillates exports from Iraq expanded slightly to 497K tons, rising by 4.5% compared with the previous year. The total export volume increased at an average annual rate of +4.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 20%. As a result, the exports attained the peak of 519K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports amounted to $143M in 2022. The total export value increased at an average annual rate of +3.6% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 with an increase of 15%. As a result, the exports attained the peak of $148M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Processed Petroleum Oils and Distillates in Iraq (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	18.8	31.2	30.9	36.5	24.8%
United States	5.1	0.8	2.3	36.0	91.8%
India	8.9	32.7	30.9	21.2	33.6%
South Korea	12.6	23.9	30.0	14.0	3.6%
Taiwan (Chinese)	N/A	3.8	5.6	7.3	38.6%
Turkey	2.0	1.2	2.4	5.5	40.1%
Singapore	74.2	45.8	23.7	5.4	-58.2%
Malaysia	4.4	6.6	7.7	2.9	-13.0%
Others	2.5	1.6	4.5	13.9	77.2%
Total	128	148	138	143	3.8%

Top Export Markets for Processed Petroleum Oils and Distillates from Iraq in 2022:

United Arab Emirates (125.7K tons)
United States (118.3K tons)
India (77.9K tons)
South Korea (45.3K tons)
Turkey (31.5K tons)
Taiwan (Chinese) (27.8K tons)
Singapore (18.6K tons)
Malaysia (14.9K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in Iraq. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023