Table of Contents
Who does Iraq trade most with?
Iraq top 5 Export and Import partners
| Exporter | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| China | 10,506 | 28.35 |
| United Arab Emirates | 5,535 | 14.93 |
| Unspecified | 5,226 | 14.10 |
| Korea, Rep. | 2,905 | 7.84 |
What do they trade in Iraq?
The top export categories (2-digit HS) in 2019 were: machinery ($311 million), cereals (wheat) ($178 million), electrical machinery ($152 million), vehicles ($138 million), and optical and medical instruments ($121 million).
Can you sell to Iraq?
You may export or reexport an item to Iraq without an individual validated license if your transaction meets all the applicable terms and conditions of the available license exceptions. Read each license exception carefully, as the provisions available for Iraq may be narrower than other destinations.
Can we import from Iraq?
The technical terms used for import and export process could be varied from country to country. However, most of the process to export and import are same. The major items imported by India from Iraq are of crude in bulk, small quantities of commodities like raw wool and sulphur.
What is Iraq’s biggest export?
At the more granular four-digit Harmonized Tariff System code level, crude oil represents Iraq’s most valuable exported product accounting for 80.4% of the country’s total. In second place was gold (12.5%) trailed by refined petroleum oils (5.8%), petroleum oil residues (0.6%) and petroleum gases (0.1%).
Can US companies do business with Iraq?
Consequently, firms interested in Iraq business should prepare now. Moreover, organizations can do business in Iraq under U.S. federal contracts, license authority from the Office of Foreign Asset Control (OFAC), and the U.N. Security Council Resolution to free Iraq from U.N. sanctions imposed more than a decade ago.
Are there any sanctions on Iraq?
The United Nations Security Council (UNSC) has imposed sanctions in relation to Iraq. The sanctions were initially imposed in 1990 in response to Iraq’s invasion of Kuwait.
Does Iraq have free trade?
The Iraq Government currently operates 3 free trade zones in the country: i) Khor al- Zubair Free Zone ii) Falafel Free Zone and iii) Al-Qayim Free Zone. Additionally, there will no foreign exchange restrictions and offshore banking will be permitted in the free zones.
How much is Iraq’s debt?
In 2020, the national debt of Iraq amounted to around 113.97 billion U.S. dollars.