Iraq Trade (Iraqi Trade): Iraq Exports, Iraq Imports

Iraq Foreign Trade
Iraq foreign trade and global economic policies

Since the fall of Saddam Hussein and the beginning of the war, Iraq’s global and economic policies have been in turmoil, to say the least.

The Coalition Provisional Authority has tried to reform, reshape, restructure and stabilize the country’s economy in accordance with open-market lines. The Coalition Provisional Authority contends that long-term economic growth will depend on whether the future leaders of Iraq adopt the pro-market approaches the Coalition has proposed.

For the Iraqi economy fully succed, the new government will have to introduce policy and reforms the Coalition did not pursue due to security issues.

Iraq Exports

Iraq is a major exporter of oil.

In 2007 it exported $34.04 billion, 84% of which was crude oil, 8% which was crude materials excluding fuels, and 5% as food and live animals.

The table below breaks down Iraq’s exports by year. This figure is steadily improving as the country emerges from war.

Exports: $34.04 billion (2007)

Year	Exports	Rank	% Change	Date
2003	$13,000,000,000	53		2002 est.
2004	$7,542,000,000	69	-41.98 %	2003 est.
2005	$10,100,000,000	67	33.92 %	2004 est.
2006	$17,780,000,000	62	76.04 %	2004
2007	$32,190,000,000	57	81.05 %	2006 est.
2008	$34,040,000,000	56	5.75 %	2007 est. Iraq Imports In the past few years, Iraq’s imports have been very volatile, understandably because of the war. 2007 data show that Iraq imported $23.09 billion. Below are some figures representing Iraq’s imports from 2003-2007: Imports: $23.09 billion (2007) Year Imports Rank % Change Date 2003 $7,800,000,000 66 2002 est. 2004 $6,521,000,000 74 -16.40 % 2003 est. 2005 $9,900,000,000 68 51.82 % 2004 est. 2006 $19,570,000,000 57 97.68 % 2004 2007 $20,760,000,000 64 6.08 % 2006 est. 2008 $23,090,000,000 63 11.22 % 2007 est.