Xifres de comerç exterior d'Iraq

Foreign Trade in Figures

Iraq, the world´s sixth biggest producer and among the largest exporters of oil, is relatively open to foreign trade, which represents around 69% of the country's GDP (World Bank, latest data available). The Iraqi government’s trade policy aims to integrate the country’s economy into regional and international markets and consequently the country has very few trade barriers. Crude oil accounts for more than 95% of Iraqi exports whereas petroleum products make up for the rest. Iraq's primary imports include refined petroleum, cars, broadcasting equipment, jewellery, and gold (data OEC, 2023).

According to the OEC, the country’s main export partners in 2023 were China (33.2%), India (27.8%), the United States (8.3%), Greece (5.3%), and the United Arab Emirates (5.3%). In contrast, imports came chiefly from the United Arab Emirates (32.2%), China (20.4%), Turkey (18.3%), India (5%), and the United States (2%). The Iraqi government implemented new laws to strengthen trade and has more recently sought to build a highway between Baghdad and Cairo via Amman to boost trade relations between Iraq, Egypt and Jordan. Iraq has also invested in strengthening its hydrocarbon export capacity, primarily by building a port located in the Persian Gulf. However, insecurity, high levels of corruption, fragile institutions, lack of legal protections and poorly implemented structural reforms discourage foreign trade.

The country maintains a structural trade surplus for merchandise, largely attributed to its hydrocarbon exports; nevertheless, it remains highly vulnerable to oil price volatility. In 2023, Iraq exported a total of USD 115.9 billion (marking a 16.1% decrease compared to the previous year amid lower hydrocarbon prices) against USD 95.5 billion in imports (+9.5% y-o-y - data WTO). According to preliminary figures from the Oil Ministry, in 2024, Iraq's oil exports averaged 3.372 million barrels per day, yielding around USD 96.08 billion in revenue, marking a 9% decrease from the previous year.