Overview In 2019 Iraq was the number 48 economy in the world in terms of GDP (current US$), the number 40 in total exports, the number 52 in total imports, the number 100 economy in terms of GDP per capita (current US$) and the number 92 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Iraq are Crude Petroleum ($73.8B), Refined Petroleum ($4.29B), Gold ($2.54B), Tropical Fruits ($358M), and Petroleum Coke ($357M), exporting mostly to China ($21.1B), India ($19.8B), South Korea ($7.1B), United States ($6.36B), and Italy ($4.76B).

Imports The top imports of Iraq are Refined Petroleum ($3.86B), Broadcasting Equipment ($3.25B), Cars ($2.52B), Jewellery ($2.51B), and Rolled Tobacco ($1.28B), importing mostly from United Arab Emirates ($13.7B), Turkey ($10.2B), China ($9.47B), India ($2.02B), and South Korea ($1.95B).

In 2019, Iraq was the world's biggest importer of Wheat Flours ($469M)

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

Historical Data

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Yearly Exports

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Top Export (2019): Crude Petroleum, $73.8B

Top Destination (2019): China, $21.1B

In 2019, Iraq exported a total of $81.7B, making it the number 40 exporter in the world. During the last five reported years the exports of Iraq have changed by $3.34B from $78.3B in 2014 to $81.7B in 2019.

The most recent exports are led by Crude Petroleum ($73.8B), Refined Petroleum ($4.29B), Gold ($2.54B), Tropical Fruits ($358M), and Petroleum Coke ($357M). The most common destination for the exports of Iraq are China ($21.1B), India ($19.8B), South Korea ($7.1B), United States ($6.36B), and Italy ($4.76B).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $3.86B

Top Origin (2019): United Arab Emirates, $13.7B

In 2019 Iraq imported $49.7B, making it the number 52 trade destination in the world. During the last five reported years the imports of Iraq changed by -$11.8B from $61.6B in 2014 to $49.7B in 2019.

The most recent imports of Iraq are led by Refined Petroleum ($3.86B), Broadcasting Equipment ($3.25B), Cars ($2.52B), Jewellery ($2.51B), and Rolled Tobacco ($1.28B). The most common import partners for Iraq are United Arab Emirates ($13.7B), Turkey ($10.2B), China ($9.47B), India ($2.02B), and South Korea ($1.95B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Iraq Exports Services (2019): $7.32B

Iraq Imports Services (2019): $22.8B

In 2019, Iraq exported $7.32B worth of services. The top services exported by Iraq in 2019 were Personal travel ($3.59B), Other business services ($1.66B), Construction services ($898M), Transportation ($645M), and Government services, n.i.e. ($327M).

The top services imported by Iraq in 2019 were Personal travel ($10.9B), Transportation ($6.73B), Insurance services ($2.41B), Financial services ($1.37B), and Other business services ($618M).

Economic Complexity

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Most Specialized Products by RCA Index

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Iraq has a high level of specialization in Crude Petroleum (16.6), Tropical Fruits (5.26), Asphalt (4.96), Petroleum Coke (3.78), and Gold (1.65). 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 Petroleum coke, bitumen & other oil industry residues (-0.69), Bitumen, asphalt, oil shales, tar sands, asphaltites (-0.76), Oils petroleum, bituminous, distillates, except crude (-0.9), Dates, figs, pineapple, avocado, guava, fresh or dried (-1.82), and Sheep or lamb skin leather, without wool on (-1.93). 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 (0.02), Raw Cotton (0.017), Other Oily Seeds (0.016), Cocoa Beans (0.015), and Tanned Goat Hides (0.014). 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.

Relatedness Space

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This network shows the products most related to the production structure of Iraq. These are products that tend to be co-exported with the products that Iraq exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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.

Economic Complexity Ranking

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During the last 20 years Iraq's⁩ ⁨economy has become relatively más complex, moving from the ⁩⁨97th to the 92nd⁩ 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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