Iraq2021 Economic Complexity Trade : -1.12, Rank 112 of 131
false: false, Rank false of 96
2021 Economic Complexity Research : -0.71, Rank 105 of 140
2021 Product Exports | Imports: $81.1B | $52.5B, 45 of 226 | 55 of 226
2021 Per Capita Product Exports | Imports: $1.97k | $1.28k, 97 of 219 | 145 of 219
Overview In 2021, Iraq was the number 50 economy in the world in terms of GDP (current US$), the number 45 in total exports, the number 55 in total imports, the number 98 economy in terms of GDP per capita (current US$) and the number 112 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Iraq are Crude Petroleum ($72B), Refined Petroleum ($5.49B), Gold ($2.08B), Petroleum Coke ($542M), and Petroleum Gas ($157M), exporting mostly to India ($23.5B), China ($23.3B), Greece ($8.7B), South Korea ($4.67B), and Italy ($3.97B).
Imports The top imports of Iraq are Refined Petroleum ($5.54B), Broadcasting Equipment ($3.11B), Cars ($2.22B), Jewellery ($2.21B), and Packaged Medicaments ($1.09B), importing mostly from United Arab Emirates ($14.3B), Turkey ($11.1B), China ($10.7B), India ($2.03B), and Germany ($1.06B).
In 2021, Iraq was the world's biggest importer of Wheat Flours ($488M)
Location Iraq borders Iran, Jordan, Kuwait, Saudi Arabia, Syria, and Turkey by land.
The following section uses the most recent trade data from partners of Iraq.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Crude Petroleum, $72B
Top Destination (2021): India, $23.5B
In 2021, Iraq exported a total of $81.1B, making it the number 45 exporter in the world. During the last five reported years the exports of Iraq have changed by $35.3B from $45.8B in 2016 to $81.1B in 2021.
The most recent exports are led by Crude Petroleum ($72B), Refined Petroleum ($5.49B), Gold ($2.08B), Petroleum Coke ($542M), and Petroleum Gas ($157M). The most common destination for the exports of Iraq are India ($23.5B), China ($23.3B), Greece ($8.7B), South Korea ($4.67B), and Italy ($3.97B).
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).
Iraq has a high level of specialization in Crude Petroleum (19.6), Petroleum Coke (5.92), Asphalt Mixtures (3.58), Scrap Vessels (2.3), and Refined Petroleum (1.91). Specialization is measured using RCA, an index that takes the ratio between Iraq observed and expected exports in each product.
The highest complexity exports of Iraq according to the product complexity index (PCI) are Waste and scrap of paper and paperboard (-0.084), Petroleum coke, petroleum bitumen; other residues of petroleum oils or oils obtained from bituminous minerals (-0.8), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils (-0.99), Bituminous mixtures based on natural asphalt; on natural bitumen, on petroleum bitumen, on mineral tar or on mineral tar pitch (e.g. bituminous mastics, cut-backs) (-1.18), and Vessels and other floating structures; for breaking up (-1.24). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Iraq according to the relatedness index, were Manganese Ore (0.024), Petroleum Gas (0.023), Sulphur (0.022), Raw Cotton (0.02), and Other Oily Seeds (0.02). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Iraq's economy has become relatively less complex, moving from the 88th to the 112th 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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