Overview

Despite falling oil revenues, insecurity, and gloomy reports of IMF, World Bank (Ease of Doing Business), Euromonitor, and Heritage Foundation, Iraq is a $50 Billion market, importing nearly everything from the UAE, Turkey, China, KSA, Iran and its other neighboring countries. Iraq is a high-risk yet promising market for most small to medium size exporters both for long-term as well as spot operations provided that the pricing is competitive.

This short report covers some key elements of Iraq market as follows:

  • Market Summary
  • Import Prospects (Exporting Countries and Products)
  • Map of Major Border Crossings
  • Local Prices (Wholesale & Retail) – Major Consumer Goods
  • Dinar Rate & Forecast
  • Import Restrictions/ Ban
  • Internet Directory – Both Private & Government Listing
  • US Export Barriers
  • Transportation
  • Public Tenders (English & Arabic)
  • Export Feasibility Case Study Samples
  • Trade Show Directory
  • Economy, politics, & Security Breaking News

Market Summary


Import Prospects (Countries)

The suppliers with the greatest potential to export All to Iraq are China, Turkey, and United Arab Emirates. China shows the largest absolute difference between potential and actual exports in value terms, leaving room to realize additional exports worth US$ 7.1 bn.

Import Prospects (Products)

The products with greatest export potential from World to Iraq are Jewellery, of precious metal, nes, Telephone sets & other voice/image transmission apparatus, and Motor vehicles for the transport of persons, nes. Telephone sets & other voice/image transmission apparatus shows the largest absolute difference between potential and actual exports in value terms, leaving room to realize additional exports worth US$ 1.5 bn.


Key findings

Turkey’s best options for export diversification in Iraq are Beans “Vigna mungo or Vigna radiata”, dried & shelled, Combs, of hard rubber/plastic and Black tea, packings >3kg. Turkey finds Garlic, fresh easiest to reach. Raw cane sugar is the product that faces the strongest demand potential in Iraq.


Major Border Crossings


Local Prices (Wholesale, Retail & End-user)

Major Consumer Goods


Dinar Rate & Forecast



Import Restrictions/ Ban


Internet Directory


US Export Barriers

USTR: U.S. companies and investors consider the existence of boycott-related requirements in procurement contracts and tenders issued by the government of Iraq as significant disincentives for doing business in the country. It is estimated that since 2010, U.S. companies have lost more than $1 billion in sales opportunities in Iraq due to Arab League boycott-related requests.

Despite antiboycott guidance given on two occasions from the Iraqi Council of Ministers to all ministries, the number of boycott-related requests from Iraqi entities increased from 2009 to 2014. In 2016, there were 52 prohibited requests (as defined by U.S. antiboycott laws) from Iraqi entities reported to the U.S. Department of Commerce, down from 62 in 2015. Requests emanated from several Iraqi government entities, including the Ministry of Health (MOH) and its procurement arm, the Iraqi State Company for Importation of Drugs and Medical Appliances (Kimadia), the Ministry of Planning, and the South Oil Company.

The MOH committed to the United States in June 2013 that it would stop issuing boycott-related requests. Since that time, however, the MOH has issued several boycott-related requests that negatively affected U.S. suppliers of medical and pharmaceutical products. In January 2014, the head of Kimadia informed the United States that the MOH and Kimadia would move to end the practice of including Arab League boycott-related requirements in tender packages for new procurements. The South Oil Company, which had stopped issuing tenders with boycott language several years ago, recently resumed issuing tenders containing boycott-related language [reported by USTR 2017]

Current as of April 28, 2017 the US trade deficit for the 2016 fiscal year stood at $4.7 Billion as reported by the USTR. The UN COMTRADE; however, paints a far more gloomy picture for the 2017 period when the US trade deficit with Iraq, seems to have increased. Iraq exports to the US surpassed $11 billion worth of crude oil while it barely imported $1 billion US origin vehicles and machinery. How does any of this make sense, given the fact that $815 billion was directly spent on Operation Iraqi Freedom (2003)/Operation New Dawn (2010–2011) reported by the Congressional Research Service on December 8, 2014; adding $7.9 trillion to the US Federal Government debt as a result? (source 1, source 2)


Transportation


Public Tenders


Trade Show Directory

Note: Some Erbil-17/18 events have been canceled. 


Iraq Business News All the latest business news from Iraq

  • Turkish Company wins UNOPS Order
    by Editor on October 21, 2018 at 3:52 am

    By John Lee. A Turkish company has won a tender to supply and deliver Metallic Garbage Containers to the United Nations Office for Project Services (UNOPS) in Iraq. The contract with Ram Dis Ticaret A.S. is valued at $91,860. (Source: UNGM) […]

  • US Assistance to Minorities in Iraq
    by Editor on October 21, 2018 at 3:51 am

    US Assistance to Ethnic and Religious Minorities in Iraq As part of the continued commitment by Vice President Pence, Secretary Pompeo (pictured), and USAID Administrator Green to support ethnic and religious minorities in Iraq as highlighted earlier this year at the first-ever Ministerial to Advance Religious Freedom, the United States is proud to announce over […]

  • GardaWorld Weekly Security Report
    by Editor on October 20, 2018 at 9:55 pm

    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]

  • Amarinth secures order for Pumps at Rumaila
    by Editor on October 20, 2018 at 3:52 am

    UK-based Amarinth has secured its first order from Iraq Gates Contracting Company (IGCC) for $410K of API 610 OH1 pumps on 22-weeks FCA delivery for the Rumaila oil field, Iraq. This first order for Amarinth from Iraq Gates Contracting Company (IGCC) of $410K is for ten API 610 OH1 condensate transfer pumps with Plan 11 […]

  • Arak Distillery promotes ambitious New Brand
    by Editor on October 20, 2018 at 3:51 am

    By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Arak distillery promotes ambitious new brand in defiance of alcohol ban Distiller Amer ad-Doumali launched “Arak Bashiqa” in September, a new brand of the Levant’s traditional anise drink whose […]

  • INOC takes over 9 State Oil Companies
    by Editor on October 19, 2018 at 2:19 pm

    By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has transferred ownership of nine state-owned oil companies from the Ministry of Oil to the newly-created Iraqi National Oil Company (INOC). The Minister is also the President of INOC. The companies transferred to INOC ownership are: Iraqi Oil Exploration Company Iraqi Drilling Company (IDC) State […]

  • US Treasury Sanctions Iraq-based Money Services Business
    by Editor on October 19, 2018 at 2:19 pm

    The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions today on Afaq Dubai, an Iraq-based money services business (MSB) that has been moving money for the Islamic State of Iraq and Syria (ISIS). Today’s designation follows action taken by the Department of Defense—announced on October 11—against a key ISIS financial […]

  • Iraq Stock Market Report
    by Editor on October 19, 2018 at 2:19 pm

    Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th October 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD634 (-3.8%) / $678 (-3.8%) (weekly change) (-21.6% and -18.9% YTD change, respectively). The number of week traded […]

  • New Career Opportunities in Iraq
    by Editor on October 19, 2018 at 2:19 pm

    By John Lee. The United Nations has advertised new positions in Iraq: Food Security and Livelihoods Program Manager, Triangle Génération Humanitaire (TGH) Programme Associate, UNAMI – United Nations Assistance Mission for Iraq Information Management Officer, UNAMI – United Nations Assistance Mission for Iraq STTA Sexual and Gender-Based Violence Advisor, Global Communities Sexual and Gender-Based Violence […]

  • New Career Opportunities in Iraqi Kurdistan
    by Editor on October 19, 2018 at 2:19 pm

    By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Logistics Coordinator, Première Urgence Internationale (PUI) Technical Project Engineer, IOM – International Organization for Migration Local Security Assistant, IOM – International Organization for Migration Project Officer (Enterprise Development Fund Management), IOM – International Organization for Migration Programme Coordinator (Economic Recovery), IOM – […]

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