page_title: Economy of Iraq
section_title: External trade
hierarchical_section_title: Economy of Iraq / External trade
caption_attribution_description: English: This bubble map shows the global distribution of Iraqi exports in 2006 as a percentage of the top market (USA - $11,119,000,000). This map is consistent with incomplete set of data too as long as the top producer is known. It resolves the accessibility issues faced by colour-coded maps that may not be properly rendered in old computer screens. Data was extracted on 18th September 2007 from http://www.imfstatistics.org/DOT Based on :Image:BlankMap-World.png
context_page_description: The economy of Iraq is dominated by the oil sector, which has provided about 99.7% of foreign exchange earnings in modern times. Iraq's hitherto agrarian economy underwent rapid development following the 14 July Revolution overthrowing the Hashemite Iraqi monarchy, becoming the third-largest economy in the Middle East by 1980. This occurred in part because of the Iraqi government's successful industrialization and infrastructure development initiatives in the 1970's, which included irrigation projects, railway and highway construction, and rural electricfication.
  In the 1980s, financial problems caused by massive expenditures in the Iran-Iraq War and damage to oil export facilities by Iran led the Ba'athist government to implement austerity measures, borrow heavily, and later reschedule foreign debt payments; Iraq suffered economic losses of at least $80 billion from the war.
context_section_description: Iraq is a founding member of OPEC. Petroleum constitutes 99,7% of Iraq's exports with a value of $43,8 billion in 2016.
  From the 1990s until 2003, the international trade embargo restricted Iraq's export activity almost exclusively to oil. In 2003 oil accounted for about US$7.4 billion of Iraq's total US$7.6 billion of export value, and statistics for earlier years showed similar proportions. After the end of the trade embargo in 2003 expanded the range of exports, oil continued to occupy the dominant position: in 2004 Iraq's export income doubled (to US$16.5 billion), but oil accounted for all but US$340 million (2 percent) of the total. In late 2004, sabotage significantly reduced oil output, and experts forecast that output, hence exports, would be below capacity in 2005 as well. In 2004 the chief export markets were the United States (which accounted for nearly half), Italy, France, Jordan, Canada, and the Netherlands. In 2004 the value of Iraq's imports was US$21.7 billion, incurring a trade deficit of about US$5.2 billion. In 2003 the main sources of Iraq's imports were Turkey, Jordan, Vietnam, the United States, Germany, and Britain. Because of Iraq's inactive manufacturing sector, the range of imports was quite large, including food, fuels, medicines, and manufactured goods. By 2010, exports rose to US$50.8 billion and imports rose to US$45.2 billion.  Chief 2009 export partners were: U.S., India, Italy, South Korea, Taiwan, China, Netherlands, and Japan. Chief 2009 import partners were: Turkey, Syria, U.S., China, Jordan, Italy, and Germany.
caption: Iraqi exports in 2006
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