Iraq2020 Economic Complexity : -0.69, Rank 90 of 127
2020 Product Exports | Imports: $58.3B | $46.7B, 44 of 226 | 51 of 226
2020 Per Capita Product Exports | Imports: $1.45k | $1.16k, 94 of 219 | 135 of 219
2019 Service Exports | Imports : $7.32B | $22.8B, 62 of 108 | 37 of 108
Overview In 2020, Iraq was the number 52 economy in the world in terms of GDP (current US$), the number 44 in total exports, the number 51 in total imports, the number 117 economy in terms of GDP per capita (current US$) and the number 90 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Iraq are Crude Petroleum ($45.2B), Gold ($7.98B), Refined Petroleum ($4.25B), Petroleum Coke ($424M), and Coal Tar Oil ($102M), exporting mostly to China ($17B), India ($14.4B), Turkey ($8.19B), South Korea ($3.78B), and United States ($2.85B).
Imports The top imports of Iraq are Broadcasting Equipment ($3.33B), Refined Petroleum ($2.6B), Cars ($1.86B), Jewellery ($1.44B), and Packaged Medicaments ($996M), importing mostly from United Arab Emirates ($13.1B), China ($10.9B), Turkey ($9.14B), India ($1.46B), and Germany ($1.04B).
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 (2020): Crude Petroleum, $45.2B
Top Destination (2020): China, $13.1B
In 2020, Iraq exported a total of $58.3B, making it the number 44 exporter in the world. During the last five reported years the exports of Iraq have changed by $8.8B from $49.5B in 2015 to $58.3B in 2020.
The most recent exports are led by Crude Petroleum ($45.2B), Gold ($7.98B), Refined Petroleum ($4.25B), Petroleum Coke ($424M), and Coal Tar Oil ($102M). The most common destination for the exports of Iraq are China ($17B), India ($14.4B), Turkey ($8.19B), South Korea ($3.78B), and United States ($2.85B).
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 (20.3), Petroleum Coke (8.11), Gold (5.43), Refined Petroleum (2.71), and Alkylbenzenes and Alkylnaphthalenes (2.07). 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 Alkylbenzenes and Alkylnaphthalenes (0.072), Coal Tar Oil (-0.068), Asphalt Mixtures (-0.56), Petroleum Coke (-0.82), and Refined Petroleum (-0.94). 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, are Petroleum Gas (0.028), Ammonia (0.022), Cocoa Beans (0.022), Palm Oil (0.02), and Raw Cotton (0.019). 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 90th 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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