International Trade in Iraq

International Trade in Iraq

With its richness in natural resources, Iraq has the world's third largest oil reserve. The country is also endowed with other natural resources, such as gas. The hydrocarbon sector currently represents almost two thirds of the country's GDP, corresponding also to its virtual totality of... Read more

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Market Analyses About Iraq (22)

Import and Export Services in Iraq (189)

  • World2turkey Consulting

    World2turkey Consulting

    Business Coaching, Iraq

    World2turkey Consulting is a dynamic company for promoting Turkish, Iraqi, Iranian and Pakistan market opportunities to the world's...
  • Has Kaucuk

    Has Kaucuk

    B2B Marketing, Iraq

    Being active as from 1995, HAS KAUÇUK A.Ş. continues its activities as leader of the sector with its expert technical staff and...

Business Tips About Iraq (19)

Agents and Distributors in Iraq (33)

Overview About International Trade in Iraq

Economic Overview

With its richness in natural resources, Iraq has the world's third largest oil reserve. The country is also endowed with other natural resources, such as gas. The hydrocarbon sector currently represents almost two thirds of the country's GDP, corresponding also to its virtual totality of exports.

The country's growth depends primarily on oil exports. Consumtion is also its non-negligible element and it has been boosted by the governments salary valorization and subsidies targeting products of basic need. However, this growth is very volatile and highly dependent on the very unstable political situation, given that the country is still waiting for a proper government.

After many years of conflict, the country is being rebuilt and has buckled down to a steady-state macro-economy, as well as to the diversification of its economy in order to avoid its dependence on oil products. Public investment has been raised to the status of national priority. The government is finishing enacting a new legislation over hydrocarbons and is modernizing its banking system and the state's financial management. New budget procedures are being established in order to face the deterioration

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