By continuing to use the site you agree to our Privacy & Cookies policy

Iraq

Profile

Country data

Iran 2008 2009 2010 2011f 2012f 2013f 2014f
Nominal GDP ($bn) 131.6 111.7 138.5 185.8 216.0 229.3 248.3
GDP per capita ($) 4,328 3,575 4,374 5.687 6.410 6.594 6.923
Real GDP growth (annual change, %) 6.6 5.8 5.5 10.2 10.3 4.2 5.9
Government revenue (% of GDP) 56.4 46.2 45.4 48.1 47.4 43.2 43.1
Government total expenditure (% of GDP) 57.3 58.9 49.6 43.4 43.3 49.1 45.1
Total government debt (gross, % of GDP) 72.6 84.0 51.0 39.1 33.5 31.3 16.3
Current account balance (% of GDP) 12.8 -8.0 3.0 12.0 6.7* 0.0 1.0
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 (%) 2.7 -2.2 2.4 5.6 6.1 1.9 1.9
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: July 2014

Doing business in...

Iraq

MEED Guide to Doing Business: Seize the Iraq opportunity Subscription

16 February 2014 | By

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

MEED comment

Iraq: Fighting has displaced 170,000 people in Sinjar

Erbil could face unilateral battle

7 August 2014

The Kurds’ dispute with Baghdad could affect their chances of getting international help against Isis

Nouri al-Maliki

Iraq's ill-equipped prime minister Subscription

19 June 2014 | By

Nouri al-Maliki’s declining popularity and loss of control over vast areas of Iraq has weakened his mandate to lead the country

Iraq conflict

Iraq on the brink of destruction Subscription

12 June 2014 | By

Conflict threatens Sunni-Shia tensions across the region. To prevent civil war in Iraq, a decisive response by Washington is required

Poll: About 60 per cent of eligible voters took part

Addressing Iraq's sectarian divide Subscription

8 May 2014 | By

The key question is whether Iraq’s power brokers have the will to bring Sunni or Kurdish elements into the government to unite the country

Iraq

Iraq mine clearance slow to progress Subscription

10 April 2014

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

Iraq

Baghdad appeals to private sector Subscription

6 March 2014 | By

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

Iraq

Oil windfall yet to benefit Iraq's economy Subscription

6 March 2014 | By

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

Iraq gas

Securing gas is a priority for Iraq Subscription

27 February 2014 | By

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

Refinery

Iraq’s refining plans face test Subscription

6 February 2014 | By

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

Iraq

Iraq on the verge of civil war Subscription

16 January 2014

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

Refinery

Iraq awards first refinery contract Subscription

9 January 2014 | 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

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

More MEED commentary

Iraq trends

Risk ratings in the Middle East and North Africa

Navigating regional political and security risk Subscription

17 August 2014 | By

Investors face a widening and complex web of risks in the Middle East and North Africa region

Top 100 projects, Q2 2014

Top 100 projects index dips Subscription

14 August 2014 | By

Small fall in the total value of the Middle East’s biggest projects, but further pressure expected due to fighting in Iraq

Middle East contracts awarded June 2014

Middle East contracts awarded: June 2014 Subscription

31 July 2014

Over $6bn of contracts awarded in June in the Middle East

Rigs operating in the Middle East and North Africa, June 2014

Middle East rig count on the rise Subscription

31 July 2014 | By

The region is now the world’s second-biggest market for operating oil rigs

Iraq

Iraq violence is about money not religion

25 June 2014 | By

The struggle for mastery of Iraq’s $20tn oil and gas reserves

Resort: Baghdad has employed the help of Shia civilians, unable to stop the advance of militants by itself

Iraq's fundamental flaws Subscription

19 June 2014 | By James Gavin

The growing sectarian division in Iraq has meant the partition of the country could become a reality

Power: Kurdish forces have taken control of Kirkuk

Erbil’s opportunity arrives Subscription

19 June 2014 | By

With the central government in Baghdad losing control of large swathes of the north and west of Iraq, the Kurdistan Regional Government will be key in shaping the future of the country

Oil offshore

Oil exporters put the brakes on spending Subscription

12 June 2014 | By Dominc Dudley

Oil exporters are starting to trim spending to keep budgets more in line with oil prices

Oil prices and Middle East oil production

Stable oil prices expected in 2014 Subscription

11 June 2014 | By

Energy Information Administration forecasts average prices of almost $105 a barrel  

Iraq oil exports

Iraq starts up third floating export terminal Subscription

5 June 2014 | By

Baghdad bumps up exports from its southern oil fields; but northern sales grind to a halt

Middle East contract awards May 2014

Middle East contracts awarded: May 2014 Subscription

2 June 2014

Over $8bn of contracts awarded in May in the Middle East

Middle East contract awards April 2014

Middle East contracts awarded: April 2014 Subscription

31 May 2014

Over $23bn of contracts awarded in April in the Middle East

Gas flare

Iraq exports essential for Iran gas development Subscription

28 May 2014 | By

Tehran aims to start 270-kilometre Iran-Iraq gas pipeline in 2015

Mandate: Al-Maliki hopes to secure a third term, but a tough leadership contest is expected

The waiting begins for Iraq's new government Subscription

8 May 2014 | By

Iraq once again faces a protracted power vacuum as Shia parties negotiate to for a majority

Filter Iraq analysis by sector

Special reports

Whatever Al-Maliki’s role in the spread of Isis, it soon became clear that he was unable to counter the military threat

Uniting against a common enemy

14 August 2014 | By

Nouri al-Maliki’s position became untenable as allies lost patience with reaction to Islamist advance

Kurdistan

Kurdistan Projects 2014

28 May 2014 | By Dominc Dudley

Housing and industry lead the projects market in Iraqi Kurdistan

Iraq

Iraq: Factional friction poses threat to security Subscription

6 March 2014

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

Iraq

MEED Guide to Doing Business: Seize the Iraq opportunity Subscription

16 February 2014 | By

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

Iraq

Iraq: Baghdad reviews its energy strategy Subscription

5 September 2013

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

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

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

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 Karbala New Refinery Oil 6,040
3 Basra New City: Phase 1 Construction 3,750
4 Zubaidiya Power Plant: Phase 1 & 2 Power 1,940
5 Baghdad Monorail: Phase 1 Transport 1,500
5 Housing Project in Baghdad Construction 1,500
7 Salah Al-Din Power Plant Power 1,299
8 Basra Power Plant Power 1,250
9 Al-Anbar Power Plant Power 1,050
10 Kut Tourist City Construction 1,000
10 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 Q1 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: April 2014

Project awards

Iraq awards $350m contract on pipeline to import Iranian gas Subscription

4 June 2014 | By

Iranian company to build infrastructure linking Abadan with Basra power plant

Petrofac and China’s CPECC pick up $960.8m in Rumaila contracts Subscription

7 May 2014 | By

UK group to provide management services; CPECC to handle power plant construction

Iraq signs $173m drilling deals with Chinese firms Subscription

23 April 2014 | By

New wells to be drilled at Missan oil fields in east of Iraq

South Korean group sign $6bn Iraq refinery deal Subscription

23 April 2014 | By

South Korean consortium of four to build 140,000 barrel-a-day refinery in Karbala, Iraq

Alstom wins Iraq turbine deal Subscription

20 April 2014 | By

French firm will provide turbines for 1,642MW Al-Anbar gas-fired plant

Daewoo approved for $559m Iraq oil facility Subscription

16 April 2014 | 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 | By

Nawah Port Management to expand Iraqi container terminal

Pakistani firm wins Iraq gas pipeline deal Subscription

13 April 2014 | By

Techno Engineering Services selected for Badra to Zubeida pipeline

Projects trends

Gulf projects index

Iraq’s project market continues to slide as US steps up intervention Subscription

14 August 2014

The contraction in Iraq’s projects market weighed on the regional index for the Gulf as a whole

Gulf Projects Index

Iran market expansion shores up index Subscription

7 August 2014

With a market growth of 3.8 per cent, Iran offers the main support for the Gulf Projects Index

Gulf Projects Index

Iraq war weighs on Gulf index Subscription

24 July 2014

Increasing instability causes Iraq projects market to contract by $13bn

More Gulf Projects Index articles

Companies

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

Kurdistan Regional Government Subscription

The Kurdistan Regional Government based in Erbil is the capital of the Kurdistan Region in Iraq. Established in 1992 by the Kurdistan National Assembly. It administers the governorates of the three northern-most governorates or provinces of Iraq, namely Erbil, Sulaimaniyah and Duhok.

See all company profiles

People

Iraq's Prime Minister-designate Haidar al-Abadi

Haidar al-Abadi faces tough challenge to form unity government Subscription

14 August 2014 | By

Former adviser to Nouri al-Maliki must break from previous policies to curb sectarian divides

Dilshad Shahab Subscription

23 September 2013

Dilshad Shahab is municipalities and tourism minister, Kurdistan Regional Government

Doaa Amin Subscription

23 September 2013

Doaa Amin is general manager, Tangram Hotel, Erbil

Handren Azzo Subscription

23 September 2013

Handren Azzo is chairman, Golden Mountains Company

Ramzy Fenianos Subscription

23 September 2013

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

Mohammed Darraji

20 May 2013

Mohammed Darraji is minister of construction & housing, Iraq

See all Iraq biographies

Latest Iraq news

Gerd Mueller, German development aid minister

German minister accuses Qatar of financing Isis Subscription

20 August 2014

Gerd Mueller says Qatar is assisting the extremist group that has seized large swathes of territory in Syria and Iraq

Pipeline

Petrochina tenders third phase of Halfaya oil development Subscription

19 August 2014

Third central processing facility to boost Iraq field’s capacity to over 500,000 barrels a day

Gas flare

Mansouriya gas project halted on unrest in northern Iraq Subscription

18 August 2014

Turkey/Kuwait/South Korea consortium pulls staff from Diyala province operations

Nouri al-Maliki

Nouri al-Maliki resigns as Iraq prime minister Subscription

15 August 2014

The former Iraq leader announced his decision to resign in a television broadcast

Current oil ouput

Iraqi Kurdistan oil sector curbs operations Subscription

14 August 2014

At least eight foreign companies take precautionary measures and relocate personnel as Kurdish army clashes with Isis militants

Iraq's Prime Minister-designate Haidar al-Abadi

Haidar al-Abadi faces tough challenge to form unity government Subscription

14 August 2014

Former adviser to Nouri al-Maliki must break from previous policies to curb sectarian divides

Nouri al-Maliki

Iraq appoints new prime minister Subscription

12 August 2014

President selects Haidar al-Abadi to lead Iraq as Al-Maliki refuses to step aside

Tawke oil field in Iraqi Kurdistan

More Iraqi Kurdistan oil operations affected Subscription

12 August 2014

Afren and Genel Energy operations in northern Iraq affected by growing unrest

A consortium led by Gazprom has invited bids to drill six production wells at the Badra oil field in southern Iraq

Gazprom team tenders Badra oil well deal Subscription

10 August 2014

Companies asked to bid for work on southern Iraq project by 26 September

Rig

Halfaya project management bid deadline extended Subscription

10 August 2014

Petrochina asks companies to submit bids on project management consultancy on 18 August

Iraq

Iraqi Kurdistan oil sector hit by escalating violence Subscription

10 August 2014

ExxonMobil, Chevron, Taqa and Oryx reducing upstream operations

Kurdistan power map

Isis advances bring Kurds into conflict in northern Iraq Subscription

6 August 2014

Islamists and Peshmerga clash at Mosul dam; humanitarian crisis in Yazidi town of Sinjar

Gas flare

Dana Gas boosts profit on start-up of Egyptian fields Subscription

6 August 2014

Company says new contracts on UAE’s Zora gas field development are imminent

Rig

Iraq oil exports increased marginally in July Subscription

5 August 2014

Shipments volumes from Basra up 2.9 per cent from June

Filter Iraq news by sector

-->