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Iraq

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U.S.-Iraq Trade Facts

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.
     
  • U.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).
     
  • U.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.
     
  • U.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).
     
  • U.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

  • U.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.
 

U.S. Goods Trade with Iraq (in billions of dollars)

 

1995

2000

2006

2011

2012

2013

2014

2015

2016

Total

0.0

6.1

13.0

19.4

21.3

15.3

15.9

6.3

7.2

Exports

0.0

0.0

1.49

2.40

2.05

2.00

2.11

1.97

1.27

Imports

0.0

6.1

11.5

17.0

19.3

13.3

13.8

4.4

6.0

Balance

0.0

-6.1

-10.1

-14.6

-17.2

-11.3

-11.7

-2.4

-4.7

U.S. Agricultural Trade with Iraq (in billions of dollars)

 

2006

2011

2012

2013

2014

2015

2016

Total

0.5

0.7

0.1

0.2

0.2

0.2

0.1

Exports

0.5

0.7

0.1

0.2

0.2

0.2

0.1

Imports

0.0

0.0

0.0

0.0

0.0

0.0

0.0

Balance

0.5

0.7

0.1

0.2

0.2

0.2

0.1

U.S. Manufacturing Trade with Iraq (in billions of dollars)

 

2006

2011

2012

2013

2014

2015

2016

Total

1.2

1.8

1.9

1.9

2.1

1.8

1.2

Exports

1.2

1.8

1.9

1.9

2.0

1.8

1.1

Imports

0.0

0.0

0.0

0.0

0.1

0.0

0.1

Balance

1.2

1.8

1.9

1.9

1.8

1.8

1.0


Last updated: April 28, 2017