United States (USA) and Iraq (IRQ) Trade | The Observatory of Economic Complexity

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United States (USA) and Iraq (IRQ) Trade

2022

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Exports $1.04BRnk 84 / 219

2022

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About

United States-Iraq Trade: In 2022, United States exported $1.04B to Iraq. The main products that United States exported to Iraq were Cars ($79.4M), Excavation Machinery ($59.5M), and Rice ($59.3M). Over the past 5 years the exports of United States to Iraq have increased at an annualized rate of 228%, from $2.72M in 2017 to $1.04B in 2022.

In 2022, United States did not export any services to Iraq.

Iraq-United States In N/A, Iraq did not export any products to United States.

In 2022, Iraq did not export any services to United States.

Comparison: In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Iraq ranked 103 in the Economic Complexity Index (ECI -0.84), and 36 in total exports ($123B).

Company data: In 2023, leading companies such as Chevron (2) were at the forefront of exporting goods from Iraq to the United States. Conversely, Other (2) were notable for importing products to Iraq from the United States.

Latest Trends

April, 2024

About

Overview In April 2024, United States exported $118M and imported $820M from Iraq, resulting in a negative trade balance of $702M. Between April 2023 and April 2024 the exports of United States have decreased by $-36.5M (-23.6%) from $155M to $118M, while imports increased by $68.3M (9.08%) from $752M to $820M.

Trade In April 2024, the top exports of United States to Iraq were Wheat ($43.9M), Cars ($18.5M), Packaged Medicaments ($16.4M), Delivery Trucks ($7M), and Vaccines, blood, antisera, toxins and cultures ($5.52M). In April 2024 the top imports of United States from Iraq were Crude Petroleum ($575M), Refined Petroleum ($240M), Electrical Ignitions ($207k), Commodities not elsewhere specified ($172k), and Flavored Water ($34.8k).

Origins In April 2024 the exports of United States were mainly from Georgia ($21.7M), Texas ($20.3M), Michigan ($14M), California ($13.7M), and New York ($12M), while imports destinations were mainly California ($579M), Louisiana ($167M), Texas ($51.7M), Mississippi ($20.8M), and Utah ($879k).

Growth In April 2024, the decrease in United States's year-by-year exports to Iraq was explained primarily by an decrease in product exports in Gas Turbines ($-6.02M or -79.5%), Excavation Machinery ($-3.29M or -87.9%), and Aircraft Parts ($-2.15M or -65.8%). In April 2024, the increase in United States's year-by-year imports from Iraq was explained primarily by an increase in product imports in Refined Petroleum ($223M or 1.3k%), Crude Petroleum ($61.8M or 12%), and Commodities not elsewhere specified ($78k or 82.6%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (April 2023 - April 2024)$-36.5M(-23.6%)

IMPORT GROWTH (April 2023 - April 2024)$68.3M(9.08%)

MAIN EXPORTER (April 2024)Georgia$21.7M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Iraq and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United States exported $1.04B to Iraq. The main products exported from United States to Iraq were Cars ($79.4M), Excavation Machinery ($59.5M), and Rice ($59.3M). During the last 5 years the exports of United States to Iraq have increased at an annualized rate of 228%, from $2.72M in 2017 to $1.04B in 2022.

Iraq does not register exports to United States. The main products exported from Iraq to United States were Crude Petroleum ($7.87B), Refined Petroleum ($2.45B), and Documents of title (bonds etc) and unused stamps ($3.29M).

Exports from United States () to Iraq () (2022)

Exports from Iraq () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Iraq
Top DestinationIndia$38.8B

This map shows whether countries import more from United States or Iraq. Each country is colored based on the difference in imports they receive from United States and Iraq or the difference in the growth in imports.

In 2022, countries that imported more from United States than Iraq included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Iraq than United States included Greece ($6.27B) and Serbia ($1.21B).

Difference in imports from Iraq () and United States () (2022)

Comparative Advantage United States - Iraq

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between United States and Iraq by product, considering products traded by both, United States and Iraq.

During 2022, United States had a large net trade with Iraq in the exports of Machines ($358M), Vegetable Products ($144M), and Transportation ($127M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Iraq+$83.3MCars

Top Product Potential Iraq United States+$3.44BCrude Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of United States and Iraq. This means that a dot/product with the flag of United States indicates it has a comparative advantage over Iraq. Similarly, a dot/product with the flag of Iraq indicates it has a comparative advantage over United States.

Product Space of United States () and Iraq () (2022)

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