Facts About The US - Iraqi Market

  • In 2016, Iraq GDP was an estimated $156.3 billion (current market exchange rates); real GDP was up by an estimated 10.3%; and the population was 36 million. (Source: IMF)
  • Iraq is currently our 48th largest goods trading partner with $7.2 billion in total (two way) goods trade during 2016. Goods exports totaled $1.3 billion; goods imports totaled $6.0 billion. The U.S. goods trade deficit with Iraq was $4.7 billion in 2016.
  • According to the Department of Commerce, U.S. exports of goods to Iraq supported an estimated 11 thousand jobs in 2015 (latest data available).

Exports

  • Iraq was the United States’ 70th largest goods export market in2016.
  • S. goods exports to Iraq in 2016 were $1.3 billion, down 35.6% ($703 million) from 2015 and down 14.9% from 2006.
  • The top export categories (2-digit HS) in 2016 were: machinery ($464 million), vehicles ($213 million), optical and medical instruments ($112 million), electrical machinery ($106 million), and aircraft ($65 million).
  • S. total exports of agricultural products to Iraq totaled $136 million in 2016. Leading domestic export categories include poultry meat & prods. (ex. eggs) ($60 million), rice ($46 million), oilseeds (ex. soybean) ($7 million), tree nuts ($6 million), and planting seeds ($5 million).

Imports

  • Iraq was the United States’ 40th largest supplier of goods imports in 2016.
  • S. goods imports from Iraq totaled $6.0 billion in 2016, up 37.0% ($1.6 billion) from 2015, but down 48.3% from 2006.
  • The top import categories (2-digit HS) in 2016 were: mineral fuels ($6.0 billion), art and antiques ($3 million), vegetable saps and extracts (pectates) ($380 thousand),special other (low value estimates) ($256 thousand), and books, newspapers ($221 thousand).
  • S. total imports of agricultural products from Iraq totaled $481 thousand in 2016.

Trade Balance

  • The U.S. goods trade deficit with Iraq was $4.7 billion in 2016, a 97.2% increase ($2.3 billion) over 2015.

Investment

  • S. foreign direct investment (FDI) in Iraq (stock) was $1.6 billion in 2015 (latest data available), a 37.4% decrease from 2014. There is no information on the distribution of U.S. FDI in Iraq.

 

  • No data on Iraq’s FDI in the U.S. are available.
  • NOTE: No services trade data with Iraq are available.
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