The country holds the 44th rank as the largest export economy in the world. New contracts with international oil companies are also forecasted to increase Iraq’s oil exports about the usual level of around 1,900,000 bbl per day. The war with Iran which almost lasted for a decade brought long-term problems for Iraq because major oil export facilities were heavily damage thus the government resorted to borrowing funds and rescheduling foreign debt payments which could ultimately be summed up to reach at least $80 billion total losses. However, in the 1980s, Iraq slowly regained from these losses as oil exports increased after the rehabilitation and construction of the pipelines and facilities.
Using the Harmonized System (HS) classification, it has been identified that the top exports of Iraq are Crude Petroleum ($76B), Refined Petroleum ($890 M), Ethers ($140 M), Tropical Fruits ($65 M) and Gold ($50 M)
The top export destinations of Iraq meanwhile would include India ($18 B), China ($16B), the United States (at around $12B), South Korea ($8.3B) and Greece ($4.4B).
Exporting to Iraq? Contact our local experts
Importing from Iraq? Contact our local experts