What are the major products of Iraq?
Iraq’s 3 biggest exports by value are crude oil, gold and processed petroleum oils. Combined, those 3 leading exports represent 98.8% of all Iraqi exports.
What is Iraq famous for producing?
Petroleum and natural gas Petroleum is Iraq’s most valuable mineral—the country has some of the world’s largest known reserves and, before the Iran-Iraq War, was the second largest oil-exporting state. Oil production contributes the largest single portion to GDP and constitutes almost all of Iraq’s foreign exchange.
What are Iraq’s main exports?
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).
What are major imports of Iraq?
Iraq main imports are: machinery and transport equipment (38 percent of total imports), manufactured articles (27 percent), mineral fuels (10 percent), and chemicals and related products (7 percent). Main import partners are: Syria (18 percent of total imports), China (14 percent) and United States (6 percent).
What products are manufactured in Iraq?
Natural resources: Oil, natural gas, phosphates, sulfur. Agriculture: Products–wheat, barley, rice, corn, chickpeas, beans, dates, cotton, sunflowers, cattle, sheep and chickens. Industry: Types–petroleum, chemicals, textiles, construction materials, food processing, fertilizer, metal fabrication/processing.
What is Iraq’s main source of income?
Iraq’s state-dominated economy is led by the oil sector, which provides approximately 85 percent of government revenue. The war against the Islamic State imposed a high cost on the economy, which also has been hurt by rampant corruption, sluggish oil prices, and war-related damage to infrastructure.
What does Iraq manufacture?
Economy of Iraq
|Main industries||petroleum, chemicals, textiles, leather, construction materials, food processing, fertilizer, metal fabrication/processing|
|Ease-of-doing-business rank||172nd (below average, 2020)|
|Exports||$63.31 billion (2017)|
What are the main imports and exports in Iraq?
Economy of Iraq
|Export goods||crude oil 99%, crude materials excluding fuels, food and live animals|
|Main export partners||China 25.9% India 24.2% South Korea 8.69% United States 7.79% Italy 5.83% Greece 5.61% Singapore 4.38% Turkey 3.26% Netherlands 2.59% Spain 2.31% (2019)|
|Imports||$39.47 billion (2017 est.)|
What is the main source of income in Iraq?
What are Iraq’s major imports and exports?
Does Iraq import or export more?
GDP of Iraq is 222,434,137,055.84 in current US$. Iraq services export is 7,317,700,000 in BoP, current US$ and services import is 22,864,900,000 in Bop, current US$. Iraq exports of goods and services as percentage of GDP is 39.97% and imports of goods and services as percentage of GDP is 32.50%.
What kind of products does Iraq export to the world?
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.
What kind of crops are grown in Iraq?
About 4-5 hectares of land in Iraq is under cultivation. The major cereal grains grown are wheat and barley. However, other main crops grown include rice, vegetables, citrus fruits, sugarcane, cotton, and dates.
How is specialization of exports measured in Iraq?
Specialization is measured using RCA, an index that takes the ratio between Iraq observed and expected exports in each product.
Who are the major trade partners of Iraq?
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).