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

  • US “struggles” to convince Iraq to cut ties with Iran
    by Editor on December 15, 2018 at 3:52 am

    By John Lee. US Energy Secretary Rick Perry spent the last two days trying to convince the Iraqi government that it’s in its best interest to cut energy ties with Iran. But according to a report from Washington Examiner, his efforts have had limited success. Perry tweeted: “In bilateral meetings with Iraqi President @BarhamSalih, Prime Minister […]

  • Meeting Between UK and Iraqi Chambers of Commerce
    by Editor on December 15, 2018 at 3:51 am

    On Wednesday 12th December, the Iraq Britain Business Council (IBBC) was pleased to host a first meeting between the British Chambers of Commerce and Chamber of Commerce & Industry representatives from the Kurdish Region of Iraq. Erbil Chamber of Commerce is a founding member of IBBC and the IBBC is now the affiliate Chamber for […]

  • Dana Gas Increases Production in Iraq
    by Editor on December 14, 2018 at 10:55 am

    Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, announces that as a result of the ramp up of production from its debottlenecking project in the Kurdistan region of Iraq, its group production reached 70,000 barrels of oil per day (boepd) on the 19 November and has since been sustained above […]

  • Iraq buys Grain from US, considers Russia
    by Editor on December 14, 2018 at 10:54 am

    By John Lee. Iraqi trade minister Mohammed Hashim has reportedly signed a deal on Thursday to import wheat and rice from the United States. According to Reuters, the agreement covers the first half of 2019. Meanwhile, Kurdistan 24 reports that a Russian delegation visited Baghdad this week to discuss exporting wheat to Iraq. (Sources: Reuters, […]

  • Iraq Stock Market Report
    by Editor on December 14, 2018 at 10:54 am

    Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th December 2018). Note: ISX will be closed during December 26, 2018 – January 1, 2019 due to the end-of-year closing operations. The next session will be held on Jan. 2, 2019. Please click here to download a table of listed companies and their associated […]

  • New Career Opportunities in Iraq
    by Editor on December 14, 2018 at 10:54 am

    By John Lee. The United Nations has advertised new positions in Iraq: Logistics and Procurement Assistant, International Commission on Missing Persons (ICMP) Administration Associate Travel, WFP – World Food Programme Business Transformation Officer, WFP – World Food Programme Independent Consultant, Heartland Alliance for Human Needs Safe Return Capacity Building Officer, Heartland Alliance for Human Needs […]

  • New Career Opportunities in Iraqi Kurdistan
    by Editor on December 14, 2018 at 10:54 am

    By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Monitoring and Evaluation Officer/Reporting Officer, ICMP – International Commission on Missing Persons Field Project Officer, IOM – International Organization for Migration Quality Assurance/Quality Control Engineer Specialist, IOM – International Organization for Migration Security Assistant, WFP – World Food Programme Business & Data […]

  • EUR 57.5m Contracts to Support Mosul Recovery
    by Editor on December 13, 2018 at 2:18 pm

    EU Signs Contracts of 57.5 Million Euros with UN to Support Mosul Recovery, Promises Additional 20 Million Euros Next Month A delegation from the United Nations in Iraq and the European Union Mission to Iraq yesterday toured a number of EU-funded and UN implemented projects in Mosul, seeing first-hand the clearance, stabilization, rehabilitation and development […]

  • Iraq’s GDP to Grow 4.1%
    by Editor on December 13, 2018 at 2:18 pm

    By John Lee. GDP growth in Iraq is expected to hit 4.1 percent in 2019, up from 2.8 percent this year, acccording to data from Moody’s. The gain is based on an expectation of oil prices averaging $75 per barrel, and would be the highest level since 2016’s 13.1 percent expansion. The National quotes the […]

  • Increased Oil Production at Halfaya
    by Editor on December 13, 2018 at 2:17 pm

    By John Lee. Production at Halfaya oilfield has reportedly increased by 100,000 barrels per day (bpd) to a total of 370,000 bpd. Adnan Noshi, head of Maysan Oil Company, told Reuters that output rose after the completion of a new oil processing facility. A further increase to 470,000 bpd is expected next quarter. (Source: Reuters) […]

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