Iraq-U.S. Trade Surges: Exports Rise Over 110% Amid Growing Economic Ties

PUKMEDIA

One of the ports.

The volume of trade between Iraq and the U.S. has more than doubled over the past two years, with cooperation extending across a wide range of investment, commercial, and economic sectors.

Statistics show that Iraqi exports to the U.S. have risen by more than 110%, while Iraqi imports have ranged between $9 and $10 billion in the past two years.

Iraqi oil exports to the U.S. are estimated at around $10 billion annually, with the trade balance favouring Iraq by $5.7 billion.

The U.S. is Iraq's sixth-largest trading partner, following the United Arab Emirates, China, Turkey, Iran, and India.

In terms of imports, machinery, equipment, and power plants are valued at around $260 million annually. Iraq’s imports mainly consist of automobiles, transportation equipment, and engineering and electrical goods.

It is worth noting that the highest value of trade between the U.S. and Iraq occurred in 2008, when trade reached $24 billion. However, the volume of trade declined as oil exports to the U.S. decreased.



PUKMEDIA