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Iraq news and analysis, tenders, contracts awarded, commentary and economic data

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Country data

Iran 2008 2009 2010 2011f 2012f 2013f 2014f
Nominal GDP ($bn) 131.6 111.7 135.5 180.6 212.5 233.3 253.7
GDP per capita ($) 4,328 3,575 4,278 5,529 6,305 6,708 7,074
Real GDP growth (annual change, %) 6.6 5.8 5.9 8.6 8.4 9 8.4
Government revenue (% of GDP) 56.4 46.2 46.4 49.5 48.2 46.4 45.9
Government total expenditure (% of GDP) 57.3 58.9 50.7 44.6 44.2 45.1 44
Total government debt (gross, % of GDP) 72.6 84 51.6 40.2 34.2 16.7 14.5
Current account balance (% of GDP) 12.8 -8.3 3.0 12.5 7 3.6 2.9
Value of oil imports 2.8 1.4 2 3.4 5.3 5.8 6.3
Value of oil exports 60.7 38 51.2 79.4 93.8 101.1 108.6
Inflation (%) 6.8 -4.4 3.3 6 3.6 5 5.5
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: June 2013

Doing business in...


MEED Guide to Doing Business: Seize the Iraq opportunity Subscription

16 February 2014, 9:20 GMT | By

This April, Iraq will hold its third round of parliamentary elections since the overthrow of Saddam Hussein’s regime in 2003

Iraq trends

March contract awards

Middle East contracts awarded: March 2014 Subscription

17 April 2014, 12:23 GMT

Over $12bn of contracts awarded in March in the Middle East

Iraq oil production forecasts

Iraq faces challenge to meet output targets Subscription

16 April 2014, 11:07 GMT | By

Analysts expect Baghdad to fall short of 2020 ambitions despite recent production surge

GCC and Iraq energy awards

Gulf oil and gas spending hits long-term high in first quarter Subscription

2 April 2014, 8:53 GMT | By

More than $25bn-worth of contracts awarded as three-month period eclipses total for 2013

Middle East contracts awarded: February 2014 Subscription

20 March 2014, 12:58 GMT

Over $17bn of contracts awarded in February in the Middle East

Contract awards

Middle East contracts awarded: January 2014 Subscription

16 February 2014, 11:13 GMT

Over $17bn awarded in January in the Middle East

Opec oil production 2012-13

Opec output shrunk in 2013 on Iran and Libya production cuts Subscription

29 January 2014, 8:04 GMT | By

Non-Opec output replaced Opec supply as exporters brace for the potential return of Iran


Al-Maliki’s sectarian challenge Subscription

16 January 2014, 14:22 GMT | By

Sunni disaffection rises in Iraq, just as it prepares for national elections in April

Middle East contract awards December 2013

Middle East contracts awarded: December 2013 Subscription

8 January 2014, 8:16 GMT

Over $7bn awarded in December in the Middle East

Middle East contract awards

Middle East contracts awarded: November 2013 Subscription

5 December 2013, 8:15 GMT

Over $11bn awarded in November in the Middle East

Iraq oil exports

Iraq oil exports increase in November Subscription

5 December 2013, 4:32 GMT | By

Oil revenues reach $81bn, but likely to fall short of 2012 record highs

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MEED comment


Iraq mine clearance slow to progress

10 April 2014, 15:20 GMT

Iraq’s ban on land mine clearance companies indicates its increasingly difficult working environment


Baghdad appeals to private sector

6 March 2014, 13:03 GMT | By

Progress with the government’s IPP programme would deliver more benefits than just additional power


Oil windfall yet to benefit Iraq's economy

6 March 2014, 12:04 GMT | By

Sectarian politics and prolonged violence are inhibiting foreign investment in Iraq’s industries

Iraq gas

Securing gas is a priority for Iraq

27 February 2014, 14:11 GMT | By

If the Iraqi government is to meet its development targets, it is vital that schemes to provide gas are a success


Iraq’s refining plans face test Subscription

6 February 2014, 13:25 GMT | By

All eyes on the first real test for Iraq’s downstream sector as firms bid for Nasiriyah project


Iraq on the verge of civil war Subscription

16 January 2014, 16:02 GMT

The resurgence of Al-Qaeda and Baghdad’s response to Sunni disaffections threatens to drag the country back into civil war


Iraq awards first refinery contract Subscription

9 January 2014, 14:15 GMT | By

The $6bn South Korean deal will see the first refinery built in Iraq for decades

Gulf midstream

Midstream moves up Gulf agenda Subscription

31 October 2013, 13:55 GMT

A world-class midstream sector enables countries to exploit the current boom in oil and gas prices

More MEED commentary

Special reports


Iraq: Factional friction poses threat to security

6 March 2014, 6:33 GMT

At MEED’s Iraq Energy Projects conference held in Dubai in February, gas was high on the agenda


MEED Guide to Doing Business: Seize the Iraq opportunity Subscription

16 February 2014, 9:20 GMT | By

This April, Iraq will hold its third round of parliamentary elections since the overthrow of Saddam Hussein’s regime in 2003


Iraq: Baghdad reviews its energy strategy Subscription

5 September 2013, 7:27 GMT

The power crisis is the clearest symbol of the Iraq government’s failure to carry out much-needed infrastructure investment

More Iraq special reports

Market presentations

After the Uprisings webinar

After the Uprisings: The outlook for business in the Middle East in 2013 and beyond Subscription

4 March 2013, 5:52 GMT

A webinar on the region’s business environment, providing current data and exclusive expert analysis drawn from MEED’s team of experts

Abu Dhabi petrochemicals plant

Future developments in Middle East petrochemicals Subscription

26 March 2012, 8:21 GMT

MEED’s exclusive subscriber-only online seminar on the petrochemicals sector in MENA outside of the GCC

Barzan: The gas project raised $5.7bn

Rebuilding the Middle East: Prospects for the projects market 2012 Subscription

6 February 2012, 5:40 GMT

MEED’s webinar looks at expected growth in the Middle East and North Africa

More MEED webinars

Top 10 projects

Rank Project Name Sector Contract value ($m)
1 Housing Complex in Basmaya Construction 8,000
2 Basra New City: Phase 1 Construction 3,750
3 Zubaidiya Power Plant: Phase 1 & 2 Power 1,940
4 Baghdad Monorail: Phase 1 Transport 1,500
4 Housing Project in Baghdad Construction 1,500
6 Salah Al-Din Power Plant Power 1,299
7 Basra Power Plant Power 1,050
8 Al-Anbar Power Plant Power 1,000
8 Al-Kut Tourist City Construction 1,000
8 Iraq Energy City Industrial 1,000
Click through to the full data table on Iraq's biggest projects in construction
Click through to MEED's Q4 2013 Top 100 Projects report
Source: MEED Projects; Data compiled: January 2014

Project awards

Daewoo approved for $559m Iraq oil facility Subscription

16 April 2014, 7:04 GMT | By

South Korea’s Daewoo Engineering & Construction to build the final degassing station at Zubair field

US firm to upgrade Basra port Subscription

15 April 2014, 9:06 GMT | By

Nawah Port Management to expand Iraqi container terminal

Pakistani firm wins Iraq gas pipeline deal Subscription

13 April 2014, 10:27 GMT | By

Techno Engineering Services selected for Badra to Zubeida pipeline

Alstom wins Iraq captive power plant deal Subscription

1 April 2014, 13:00 GMT | By

740MW gas-fired facility to be built at Zubair oil field

Samsung Engineering signs Iraq degassing station deal Subscription

31 March 2014, 6:58 GMT | By

South Korean group signs $840m contract for new facilities at Zubair oil field

Foster Wheeler joint venture wins new Iraq engineering deal Subscription

11 March 2014, 7:52 GMT | By

Foster Wheeler joint venture with Kentz Overseas wins Majnoon full development contract

WorleyParsons wins major Iraq feed deal Subscription

9 March 2014, 9:04 GMT | By

Estimated $30m contract for Yamama reservoir designs

Saipem awarded dual Iraq gas design deals Subscription

4 March 2014, 13:01 GMT | By

Italian engineering firm will design liquefaction and export terminals

Projects trends

Gulf projects index

Iraq and UAE lead Gulf index growth Subscription

17 April 2014, 11:01 GMT

Kuwait, Qatar and Iran record largest declines in value

Gulf Projects Index 8 April 2014

UAE leads growth in Gulf index Subscription

10 April 2014, 11:06 GMT

Iraq records largest decline in value of projects market in the region

Gulf projects index

UAE records strong growth Subscription

3 April 2014, 9:31 GMT

Oman sees second-largest increase while Iran continues poor performance

More Gulf Projects Index articles


Asiacell logo

Asiacell Communications Subscription

Set up in the Kurdish region of Iraq in 1999, it was awarded a mobile operating licence in 2007 and now has a quarter of its shares floated on the Iraqi Stock Exchange

Mass Group Holding logo

Mass Holding Subscription

Originally called Mass Global Investments, it works out of Jordan and is responsible for the development of power generation plants in Iraqi Kurdistan

See all company profiles


Dilshad Shahab Subscription

23 September 2013, 15:36 GMT

Dilshad Shahab is municipalities and tourism minister, Kurdistan Regional Government

Doaa Amin Subscription

23 September 2013, 15:36 GMT

Doaa Amin is general manager, Tangram Hotel, Erbil

Handren Azzo Subscription

23 September 2013, 15:35 GMT

Handren Azzo is chairman, Golden Mountains Company

Ramzy Fenianos Subscription

23 September 2013, 15:25 GMT

Ramzy Fenianos is regional director, acquisitions and development, Starwood Hotels and Resorts

Mohammed Darraji

20 May 2013, 13:00 GMT

Mohammed Darraji is minister of construction & housing, Iraq

See all Iraq biographies

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MEED events


Kurdistan Projects 2014

Detailing investment opportunities accross the Kurdistan region of Iraq

More MEED events