Iraq is at the forefront of Arab countries in global trade.
Iraq is at the forefront of Arab countries in global trade.
2025-09-11 03:48
Shafaq News – Baghdad
Iraq ranked third among Arab countries in trade with countries around the world in 2024, according to statistics issued by the Central Bank.
The bank stated in a report reviewed by Shafaq News Agency that Iraq ranked third among Arab countries in terms of its trade with the countries of the world, with a relative contribution of 7.6%.
He added that the UAE and Saudi Arabia ranked first and second, respectively, with 26.7% and 24.2% of Arab trade volume. These three countries, along with Iraq, account for more than half of Arab trade, at 59%.
The bank’s report also indicated that crude oil accounted for 95.7% of Iraq’s total commodity exports, while exports of petroleum products and other exports, most of which are natural resources, accounted for 4.7%. Therefore, Iraq is a net exporter of natural resources.
The bank continued in its report that Iraq’s imports rose by 76.7%, with consumer imports accounting for 30.7%, a very high percentage compared to the country’s agricultural sector, which enables it to achieve self-sufficiency in food. Capital imports, meanwhile, reached 58.5%, and government imports reached 10.8%.
shafaq.com
