Flag Iraq

Econ Complexity (2018): -0.91, Rank 109 of 137

Product Exports (2018): $87.4B, Rank 40 of 222

Exports Per Capita (2018): $2.27k, Rank 77 of 219

Product Imports (2018): $43.1B, Rank 56 of 221

Imports Per Capita (2018): $1.12k, Rank 91 of 219

Service Exports (2018): $5.55B, Rank 40 of 88

Service Imports (2018): $18B, Rank 25 of 88

GDP (2018): $224B, CURRENT US$
Rank 48 of 196

GDP growth (2008 - 2018): 70.4%, CURRENT US$
Rank 56 of 196

GDP PC (2018): $5,834, CURRENT US$
Rank 105 of 196

GDP PC GROWTH (2008 - 2018): 25.8%, CURRENT US$
Rank 93 of 196

Overview: In 2018 Iraq was the number 48 economy in the world in terms of GDP (current US$), the number 40 in total exports, the number 56 in total imports, and the number 109 most complex economy according to the Economic Complexity Index (ECI). In 2018, Iraq exported $87.4B and imported $43.1B, resulting in a positive trade balance of $44.2B. In 2018, Iraq's exports per capita were $2.27k and its imports per capita were $1.12k.

Trade: The top exports of Iraq are Crude Petroleum ($82.1B), Refined Petroleum ($3.38B), Gold ($1.38B), Tropical Fruits ($104M), and Petroleum Coke ($65.3M). The top imports of Iraq are Broadcasting Equipment ($3.76B), Jewellery ($2.28B), Cars ($1.67B), Rolled Tobacco ($1.66B), and Refined Petroleum ($1.62B).

Destinations: Iraq exports mostly to India ($20.8B), China ($20B), United States ($10.6B), South Korea ($8.47B), and Greece ($4.92B), and imports mostly from United Arab Emirates ($11.3B), Turkey ($8.35B), China ($7.92B), South Korea ($1.91B), and India ($1.85B).

Location: Iraq borders Iran, Jordan, Kuwait, Saudi Arabia, Syria, and Turkey by land.

Product Exports

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Top Export (2018): Crude Petroleum, $82.1B

Top Destination (2018): India, $20.8B

In 2018 Iraq exported a total of $87.4B, making it the number 40 exporter in the world. During the last five reported years the exports of Iraq have changed by $8.91B from $78.5B in 2013 to $87.4B in 2018.

The most recent exports are led by Crude Petroleum ($82.1B), Refined Petroleum ($3.38B), Gold ($1.38B), Tropical Fruits ($104M), and Petroleum Coke ($65.3M). The most common destination for the exports of Iraq are India ($20.8B), China ($20B), United States ($10.6B), South Korea ($8.47B), and Greece ($4.92B).

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Product Imports

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Value
Depth

Top Import (2018): Broadcasting Equipment, $3.76B

Top Origin (2018): United Arab Emirates, $11.3B

In 2018 Iraq imported $43.1B, making it the number 56 trade destination in the world. During the last five reported years the imports of Iraq changed by $3.9B from $39.2B in 2013 to $43.1B in 2018.

The most recent imports of Iraq are led by Broadcasting Equipment ($3.76B), Jewellery ($2.28B), Cars ($1.67B), Rolled Tobacco ($1.66B), and Refined Petroleum ($1.62B). The most common import partners for Iraq are United Arab Emirates ($11.3B), Turkey ($8.35B), China ($7.92B), South Korea ($1.91B), and India ($1.85B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Iraq Exports Services (2018): $5.55B

Iraq Imports Services (2018): $18B

In 2018, Iraq exported $5.55B worth of services. The top services exported by Iraq in 2018 were Personal travel ($1.99B), Other business services ($1.55B), Transportation ($967M), Construction services ($584M), and Government services, n.i.e. ($265M).

The top services imported by Iraq in 2018 were Personal travel ($7.85B), Transportation ($5.41B), Insurance services ($1.9B), Financial services ($1.16B), and Other business services ($1.08B).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Iraq. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Iraq's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨98th to the 109th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Iraq has a high level of specialization in Crude Petroleum (16), Asphalt Mixtures (3.94), Gravel and Crushed Stone (2.57), Tropical Fruits (1.65), and Tanned Sheep Hides (1.01). Specialization is measured using RCA, an index that takes the ratio between Iraq observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Iraq according to the product complexity index (PCI) are Pebbles, gravels, aggregates and macadam (-0.56), Bituminous mix, mastic from asphalt, bitumen/tar/pitch (-0.94), Sheep or lamb skin leather, without wool on (-1.83), Dates, figs, pineapple, avocado, guava, fresh or dried (-1.95), and Petroleum oils, oils from bituminous minerals, crude (-2.85). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Iraq according to the relatedness index, are Petroleum Gas (0.013), Insect Resins (0.011), Raw Aluminium (0.011), Maté (0.011), and Gold (0.01). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Iraq is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.