U.S. - Iraq Trade Facts
In 2019, Iraq GDP was an estimated $224.5 billion (current market exchange rates); real GDP was up by an estimated 3.9%; and the population was 39 million. (Source: IMF)
Iraq is currently our 49th largest goods trading partner with $8.2 billion in total (two way) goods trade during 2019. Goods exports totaled $1.2 billion; goods imports totaled $7.0 billion. The U.S. goods trade deficit with Iraq was $5.8 billion in 2019.
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' 75th largest goods export market in 2019.
- U.S. goods exports to Iraq in 2019 were $1.2 billion, down 9.3% ($122 million) from 2018 and down 32.9% from 2009.
- 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).
- U.S. total exports of agricultural products to Iraq totaled $231 million in 2019. Leading domestic export categories include: wheat ($106 million), rice ($72 million), poultry meat & products (ex. eggs) ($27 million), tree nuts ($8 million), and planting seeds ($4 million).
Imports
- Iraq was the United States' 36th largest supplier of goods imports in 2019.
- U.S. goods imports from Iraq totaled $7.0 billion in 2019, down 40.8% ($4.8 billion) from 2018, and down 24.2% from 2009.
- The top import categories (2-digit HS) in 2019 were: mineral fuels ($7.0 billion), special other (returns) ($25 million), art and antiques ($858 thousand), precious metal and stone (jewelry) ($701 thousand), and special other (low value estimates) ($223 thousand).
- U.S. total imports of agricultural products from Iraq totaled $409 thousand in 2019.
Trade Balance
- The U.S. goods trade deficit with Iraq was $5.8 billion in 2019, a 44.7% decrease ($4.7 billion) over 2018.
Investment
- U.S. foreign direct investment (FDI) in Iraq (stock) was $1.9 billion in 2019, a 1.9% increase from 2018. 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.
|
U.S. Goods Trade with Iraq (in millions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
11,035.7 |
15,933.0 |
6,326.9 |
7,249.6 |
11,959.2 |
13,184.1 |
8,215.0 |
|
Exports |
1,772.4 |
2,105.9 |
1,973.4 |
1,266.4 |
1,204.9 |
1,312.1 |
1,189.9 |
|
Imports |
9,263.3 |
13,827.1 |
4,353.5 |
5,983.3 |
10,754.3 |
11,872.1 |
7,025.1 |
|
Balance |
-7,490.9 |
-11,721.2 |
-2,380.1 |
-4,717.0 |
-9,549.4 |
-10,560.0 |
-5,835.2 |
|
U.S. Agricultural Trade with Iraq (in millions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
155.1 |
207.0 |
179.5 |
133.0 |
164.4 |
374.8 |
231.7 |
|
Exports |
154.7 |
206.0 |
179.2 |
132.5 |
163.2 |
374.0 |
231.3 |
|
Imports |
0.3 |
1.0 |
0.3 |
0.5 |
1.1 |
0.8 |
0.4 |
|
Balance |
154.4 |
205.0 |
178.9 |
132.1 |
162.1 |
373.2 |
230.9 |
|
U.S. Manufacturing Trade with Iraq (in millions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
1,715.1 |
2,109.4 |
1,822.8 |
1,164.7 |
1,009.0 |
974.3 |
1,185.2 |
|
Exports |
1,703.6 |
1,970.4 |
1,811.5 |
1,099.2 |
955.7 |
914.4 |
1,008.4 |
|
Imports |
11.5 |
139.0 |
11.3 |
65.5 |
53.3 |
59.9 |
176.8 |
|
Balance |
1,692.1 |
1,831.4 |
1,800.2 |
1,033.7 |
902.5 |
854.5 |
831.5 |
Last updated:October 2, 2020
