Trade Trend

In 2023, Iraq's total export value is 107.84Billion USD, total import value is 47.97Billion USD, Surplus is 59.87Billion USD, and foreign trade dependency is 0.621. In 2023，Iraq's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(99.61Billion USD), 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(6.40Billion USD), Petroleum coke, petroleum bitumen; other residues of petroleum oils or oils obtained from bituminous minerals(744.32Million USD), top export destinations are China(35.45Billion USD), India(29.18Billion USD), United States(8.94Billion USD). In 2023, Iraq's top import products are 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(2.10Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(2.06Billion USD), Jewellery articles and parts thereof, of precious metal or of metal clad with precious metal(1.37Billion USD), top import origins are China(14.29Billion USD), Turkey(12.81Billion USD), India(3.48Billion USD).

Comparing to 2022, Iraq's total export value decreased -20.37Billion USD(-15.89%) in 2023, this could result from its export decreases of products such as Petroleum oils and oils obtained from bituminous minerals; crude(-19.23Billion USD or -16.18%), 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(-411.91Million USD or -6.05%), Telephone sets, including smartphones and other telephones for cellular/wireless networks; other apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks), excluding items of 8443, 8525, 8527, or 8528(-317.75Million USD or -99.93%) and export decreases to countries/economics such as India(-8.04Billion USD or -21.60%), China(-3.94Billion USD or -10.00%), Spain(-1.68Billion USD or -48.31%). Comparing to 2022, Iraq's total import value increased 2.79Billion USD(6.19%) in 2023, this could result from its import increases of products such as None(768.31Million USD or 1.98Thousands%), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(607.40Million USD or 41.84%), Soya beans, whether or not broken(352.54Million USD or 1.49Thousands%), and its import increases from countries/economies such as United States(1.36Billion USD or 151.26%), India(1.03Billion USD or 42.05%), China(748.94Million USD or 5.53%).

Cumulated to first 7 months of 2024, Iraq's total export value is 40.59Billion USD, total import value is 17.58Billion USD, and tradesurplus is 23.01Billion USD. Cumulated to first 7 months of 2024, Iraq's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(37.28Billion USD), 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(2.93Billion USD), Petroleum coke, petroleum bitumen; other residues of petroleum oils or oils obtained from bituminous minerals(187.74Million USD), and top export destinations are China(16.11Billion USD), India(10.89Billion USD), South Korea(3.61Billion USD). Cumulated to first 7 months of 2024, Iraq's top import products are Petroleum oils and oils obtained from bituminous minerals; crude(37.28Billion USD), 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(2.93Billion USD), Petroleum coke, petroleum bitumen; other residues of petroleum oils or oils obtained from bituminous minerals(187.74Million USD), and top import origins areChina(6.81Billion USD), Turkey(3.36Billion USD), India(1.21Billion USD).