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2022
Economic Complexity
Trade -0.84Rank 103 of 133
2022
Economic Complexity
Research -0.84Rank 110 of 135
2022
Product
Exports | Imports $123B | $67.1B36 of 226 |  54 of 226
2022
Per Capita Product
Exports | Imports $2.76k | $1.51k83 of 220 |  143 of 220

About

Overview In 2022, Iraq was the number 48 economy in the world in terms of GDP (current US$), the number 36 in total exports, the number 54 in total imports, the number 104 economy in terms of GDP per capita (current US$) and the number 103 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Iraq are Crude Petroleum ($111B), Refined Petroleum ($9.19B), Gold ($1.03B), Petroleum Coke ($770M), and Petroleum Gas ($388M), exporting mostly to India ($38.8B), China ($34B), United States ($10.3B), South Korea ($8.21B), and Greece ($6.27B).

Imports The top imports of Iraq are Refined Petroleum ($7.81B), Broadcasting Equipment ($3.76B), Cars ($3.4B), Jewellery ($3.01B), and Rolled Tobacco ($1.29B), importing mostly from United Arab Emirates ($21.2B), China ($14B), Turkey ($13.7B), India ($2.45B), and South Korea ($1.15B).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Crude Petroleum$111B
Top Destination (2022)India$38.8B

In 2022, Iraq exported a total of $123B, making it the number 36 exporter in the world. During the last five reported years the exports of Iraq have changed by $57.5B from $65.3B in 2017 to $123B in 2022.

The most recent exports are led by Crude Petroleum ($111B), Refined Petroleum ($9.19B), Gold ($1.03B), Petroleum Coke ($770M), and Petroleum Gas ($388M). The most common destination for the exports of Iraq are India ($38.8B), China ($34B), United States ($10.3B), South Korea ($8.21B), and Greece ($6.27B).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Growth
Fastest Growing Export Markets (2021 - 2022)
India$12.2B (+ 45.9%)
China$10.7B (+ 45.8%)
United States$6.45B (+ 166%)
Fastest Growing Import Markets (2021 - 2022)
United Arab Emirates$6.92B (+ 48.5%)
China$3.63B (+ 35%)
Turkey$2.62B (+ 23.6%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)-0.84Rank 103 of 133
Economic Complexity (Research)-0.84Rank 110 of 135

Most Specialized Products by RCA Index

Iraq has a high level of specialization in Crude Petroleum (14.7), Bitumen and asphalt (6.85), Petroleum Coke (4.23), Refined Petroleum (1.64), and Tropical Fruits (1.32). 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

The highest complexity exports of Iraq according to the product complexity index (PCI) are Waste and scrap of paper and paperboard (-0.28), Olive oil and its fractions; whether or not refined, but not chemically... (-0.77), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... (-0.84), Petroleum coke, petroleum bitumen; other residues of petroleum oils or oils obtained... (-0.87), and Bitumen and asphalt, natural; bituminous or oil shale and tar sands; asphaltites... (-0.92). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Iraq according to the relatedness index, were Sulphur (0.021), Gold (0.019), Petroleum Gas (0.019), Sheep and Goats (0.018), and Raw Cotton (0.018). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Iraq is not specialized in.

Product Space

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.

Relatedness Space

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.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Iraq's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨93rd to the 103rd⁩ 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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ECI (Trade) Ranking by Country

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