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Iraq

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Iraq
Leader
Prime Minister Haider al-Abadi

Iraq country datafile
Country overview
Government contacts

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

Basic information on Iraq Subscription

16 February 2014

Official name Republic of Iraq

History

History of Iraq Subscription

16 February 2014

Iraq’s modern history has been a turbulent one, reflecting its creation in 1920 from the remnants of the Babylonian and Mesopotamian outposts of the Ottoman Empire

Iraq GDP

Iraq's economy Subscription

16 February 2014

Iraq’s economy has made significant strides in recent years

Iraqi Kurdistan Subscription

16 February 2014

Travellers disembarking at the shiny arrival hall at Erbil International airport could be forgiven for not realising they have set foot on Iraqi territory

Iraq project awards

Iraq projects market Subscription

16 February 2014

There were $518.31bn-worth of projects planned or under way in Iraq at the end of January 2014, according to MEED’s Gulf Projects Index

Kurdish law: Expatriate employees living in Iraqi Kurdistan must first qualify as tax residents in Iraq

Taxation in Iraq Subscription

16 February 2014

Thomas Donovan of Iraq Law Alliance discusses the rules governing taxation in Iraq and Iraqi Kurdistan

Anti-corruption in Iraq Subscription

16 February 2014

The Iraq Law Alliance’s Thomas Donovan explains the legislation around bribery and influencing officials

Contract law in Iraq Subscription

16 February 2014

Thomas Donovan of the Iraq Law Alliance explains how contracts are enforced in Iraq

Taxation and compliance in the Kurdistan region Subscription

16 February 2014

Allan Fowlie, CEO of consultancy Tiller, explains the differences between federal Iraq and the Kurdistan region

Iraq's National Investment Commission Subscription

16 February 2014

Established in 2007, the National Investment Commission (NIC) aims to entice investors into Iraq and help them make the most of the privileges and incentives afforded to them by Investment Law 13 of 2006

Setting up a company in Iraq Subscription

16 February 2014

Addleshaw Goddard’s Hussein Damirji and Rafi Sajian explain the process of establishing a presence in Iraq

Economic zones in Iraq Subscription

16 February 2014

Iraq is home to three official free zones, located in the southern Basra province, the northern province of Ninevah and the western Anbar province

Population: The Baghdad province is home to almost 7 million people

Provinces in Iraq Subscription

16 February 2014

The Republic of Iraq is a federal system made up of the central government, along with the semi-autonomous northern region of Kurdistan

Key ministries in Iraq Subscription

16 February 2014

Contact details for selected ministries in Iraq

Security

Security in Iraq Subscription

16 February 2014

In most of Iraq, it is unsafe to travel without security staff

Transport in Iraq Subscription

16 February 2014

Business visas for travel to federal Iraq must be applied for in advance

Accommodation in Iraq Subscription

16 February 2014

Rents in Iraq not only vary according to the size of a property, but more importantly, they are also influenced by the level of security

Telecoms industry in Iraq Subscription

16 February 2014

Iraq’s telecoms sector has grown rapidly since 2003, when mobile services were unavailable

Healthcare in Iraq Subscription

16 February 2014

The state of Iraq’s healthcare system is a far cry from the 1970s, when the country boasted more than 1,200 primary healthcare centres and the lowest infant mortality rates in the region

Key ministries in Iraq Subscription

16 February 2014

Contact details for selected Iraq ministries

Information providers on Iraq Subscription

16 February 2014

MEED Since its launch in 1957, MEED has been tackling news issues head-on with groundbreaking exclusives that shape the Middle East

Prime Minister of Iraq Nouri al-Maliki (left) and President of Iraqi Kurdistan Massoud Barzani (right)

Government in Iraq Subscription

10 February 2014

Iraq’s current political structure can trace its roots back to 1920, when British colonial forces forged the modern state of Iraq out of three provinces of the Ottoman Empire: Baghdad, Basra and Mosul. The turbulent modern history of Iraq since then has yielded a difficult political legacy, with weak institutions and a culture of authoritarian governance.

Country data

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Iraq 2009 2010 2011 2012 2013 2014 2015f
Nominal GDP ($bn) 111.7 138.5 185.8 216.0 229.3 232.2* 240.0
GDP per capita ($) 3,575 4,374 5,687 6,410 6,594 6,474* 6,491
Real GDP growth (annual change, %) 5.8 5.5 10.2 10.3 4.2 -2.7* 1.5
Government revenue (% of GDP) 46.2 45.4 48.1 47.4 43.2 42.3* 41.3
Government total expenditure (% of GDP) 58.9 49.6 43.4 43.3 49.1 45.3* 42.0
General government debt (gross, % of GDP) 84.0 51.0 39.1 33.5 31.3 30.7* 29.8
Current account balance (% of GDP) -8.0 3.0 12.0 6.7 -0.8* 3.0 2.4
Inflation (%) -4.4 3.3 6.0 3.6 3.1 8.0* 6.0
Population (millions) 31.2 31.7 32.7 33.7 34.8 35.9* 37.0
Unemployment (%) na na na na na na na
Click to see full economic data (2005 - 2019 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: February 2015

Iraq trends

Iran nuclear talks in Lausanne

MEED board report, April 2015 Subscription

8 April 2015 | By

Key events and trends in the region over the past month and their impact on the outlook for the Middle East and North Africa

Iraq's Finance Minister Hoshyar Zebari

Iraq economy falters as anti-Isis campaign unfolds Subscription

22 March 2015 | By

The IMF said Iraq’s government should cut spending and change its banking policies to deal with a soaring budget deficit

There is still potential for schemes to get under way in the south of Iraq

Southern Iraq holds potential Subscription

16 March 2015 | By

The signing of an agreement with Shell to develop a $11bn petrochemicals complex in Basra illustrates the region’s potential, as the most secure area in Iraq

Iraq additional power capacity and power sector

Baghdad gives IPPs another try Subscription

10 March 2015 | By

Iraq is restarting its independent power project programme in a bid to tackle its electricity crisis, but it remains to be seen whether developers and financiers will be interested

Iraq oil exports 2014-15

Iraq oil exports hit 12-month high Subscription

10 March 2015 | By

Erbil claims it is not receiving budget payments despite boosting northern volumes

Video graph

Strategic priorities shape Gulf projects spending Subscription

8 March 2015

The impact of low oil prices on project plans around the region

kirkuk

Kirkuk dispute to intensify Subscription

24 February 2015 | By

Erbil is determined to defend its control of the oil-rich province

Refinery

Conflict sets back Iraq refinery programme Subscription

16 February 2015 | By

Baghdad’s plans to nearly double refining capacity by the end of the decade look to be a long way off track

Middle East contract awards December 2014

Middle East contracts awarded: December 2014 Subscription

7 January 2015

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

Middle East contracts October 2014

Middle East contracts awarded: October 2014 Subscription

1 December 2014

Over $13bn of contracts awarded in October in the Middle East

November contract awards

Middle East contracts awarded: November 2014 Subscription

1 December 2014

Over $3bn of contracts awarded in November in the Middle East

Saudi oil production and brent crude price

Riyadh in strong position ahead of Opec meeting Subscription

18 November 2014 | By

Saudi Arabia showing no signs of cutting oil production despite falling prices

The Oil Ministry estimates that the halt in exports from northern Iraq is costing Baghdad about $1.2bn a month in lost revenues

Conflict threatens Iraq's production targets Subscription

13 November 2014 | By

The fresh outbreak of fighting in Iraq means the country is unlikely to meet its production target of 8.5-9 million barrels a day by 2020 as key projects are delayed

Iraq annual expenditure

Once more a war economy Subscription

13 November 2014 | By James Gavin

The cost of the fight against Isis, coupled with falling global oil prices, means Baghdad faces a widening deficit and depleting foreign exchange reserves

Filter Iraq analysis by sector

MEED comment

Erbil, capital of the Kurdistan region of northern Iraq

Shifting borders in northern Iraq Subscription

24 February 2015 | By

Isis has provided a smokescreen for power plays in embattled region

Iraq's decision to relaunch its private power programme is laudable, but is likely to attract scepticism

Baghdad faces IPP challenge Subscription

22 December 2014

The government’s decision to relaunch its private power programme is laudable, but is likely to attract scepticism due to the many challenges involved

US Secretary of State John Kerry said the attack missions by Iranian jets were a positive development in efforts against Isis

Iran carries out first airstrikes against Isis, US claims Subscription

4 December 2014 | By

Tehran denies offensive despite news footage showing F-4 Phantom II raids in Diyala

Haider al-Abadi

Al-Abadi facing familiar problems in divided Iraq Subscription

13 November 2014 | By

New prime minister a welcome replacement for Al-Maliki, but faces same sectarian pressures

Baiji refinery, north of Baghdad, in Iraq

Erbil strives to meet domestic fuel demand Subscription

6 November 2014 | By

Baiji refinery outage highlights importance of refining expansion in Iraqi Kurdistan

The development of power plants shows the Kurdistan Regional Government is determined to meet the needs of its people and industries

Erbil remains committed to development Subscription

6 November 2014 | By

The development of power plants shows the Kurdistan Regional Government is determined to meet the needs of its people and industries

Iraq's Prime Minister Haidar al-Abadi

Baghdad unity government a positive step Subscription

11 September 2014 | By

Al-Abadi faces huge challenge to bridge sectarian divides

Syria's President Bashar a-Assad

Respite from cold for Al-Assad Subscription

4 September 2014 | By

The West might have to ask the Syrian leader for assistance in stamping out jihadist group Isis

Kurdistan

Isis threatens Kurdish hopes Subscription

21 August 2014 | By

Erbil faces difficult questions about its quest for independence

Iraq: Fighting has displaced 170,000 people in Sinjar

Erbil could face unilateral battle Subscription

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

More MEED commentary

Special reports

Haider al-Abadi

Iraq: Economic fallout from jihadist advance Subscription

13 November 2014

Prime Minister Haider al-Abadi has taken on the leadership of Iraq at a critical time

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 Subscription

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

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

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 Zubaidiya Power Plant: Phase 1 & 2 Power 1,940
4 Kalak Refinery Third Expansion Oil 1,500
4 Baghdad Monorail: Phase 1 Transport 1,500
6 Iraq Energy City Industrial 1,000
7 Badra Oil Field Development: Phase 2: CPF Gas 879
8 Zubair Field Development: North Degassing Station Oil 840
8 Zubair Field Development: North Central Degassing Station Oil 818
10 Akkas Field Development: Gas Processing Facility Gas 750
10 Zubair Field Development: North Degassing Station Oil 818
10 Erbil Media City: Phases 2 & 3 Construction 750
Click through to the full data table on Iraq's biggest projects in construction
Click through to MEED's Q4 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: April 2015

Project awards

Iraq

South Koreans win Iraq infrastructure work Subscription

9 April 2015 | By

Contract follows 2012 development deal

Iraq energy EPC awards

Iraq awards design deal on critical seawater supply project Subscription

16 December 2014 | By

Austria’s ILF Consulting Engineers wins contract on two 150km pipelines

Petrojet wins $143m in Iraq gas contracts

Petrojet wins $143m in Iraq gas contracts Subscription

14 December 2014 | By

Egyptian group to build gas pipeline and undertake work on separation plant

Iraq awards $900m of oil storage and transmission projects

Iraq awards $900m of oil storage and transmission projects Subscription

13 November 2014 | By

Chinese group picks up $667m deal to build depot near Nasiriyah field

Al-Faw Port in Iraq

Petrofac awarded $106m Al-Faw contract extension Subscription

3 November 2014 | By

UK group wins new six-month deal from South Oil Company on export facilities services

International consortium wins Iraq desalination contract

International consortium wins Iraq desalination contract Subscription

26 October 2014 | By

Group to provide pretreatment facilities for planned Basra plant

GE to provide turbines for Iraqi Kurdistan power plant

GE to provide turbines for Iraqi Kurdistan power plant Subscription

19 October 2014 | By

Contract signed to supply five turbines to new Bazyan plant

electricity substation

Indian firm to supply substations for Iraq Subscription

13 October 2014 | By

Avantha Group will provide 16 substations for the Electricity Ministry

Projects trends

Gulf projects index

Bahrain makes biggest gains Subscription

14 April 2015

Iran and Qatar also expand, but fail to lift Gulf Projects Index

Gulf projects index

Mass declines on Gulf index Subscription

6 April 2015

Iran leads slump in region, with Bahrain and Iraq only countries to record gains

Gulf projects index

Qatar leads Gulf index growth Subscription

31 March 2015

Kuwait, Oman and Bahrain also record expansions in value

More Gulf Projects Index articles

All companies

Iraq Ministry of Electricity Subscription

Iraq Ministry of Electricity was established in 2003, it is responsible for the generation, transmission and distribution of electricity in Iraq

Iraq State Company for Oil Projects Subscription

Iraq State Company for Oil Projects (Scop) established in 1964 is a state owned company overseen by Iraq’s Ministry of Oil, projects include the Karbala New Refinery

See all company profiles

Clients

People

Abu Bakr al-Baghdadi Subscription

22 January 2015

Head of Islamic State in Iraq and Syria (Isis)

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

See all Iraq biographies

Latest Iraq news

Iraq invites renewables interest

Iraq invites renewables interest Subscription

19 April 2015

Four sites selected for projects

Opec oil output surges

Opec output surges Subscription

16 April 2015

Group pumped 30.79 million barrels a day in March

Karbala in Iraq

Karbala to build industrial city Subscription

13 April 2015

Iraq province hoping to attract foreign direct investment in manufacturing

Six groups have submitted bids for the contract to develop Iraq’s first publicly tendered independent power project

Six groups seek Iraq IPP prequalification Subscription

13 April 2015

Independent power project will be located in southern area of country

Iraq

South Koreans win Iraq infrastructure work Subscription

9 April 2015

Contract follows 2012 development deal

Pipe

Lukoil tenders design for export pipeline Subscription

9 April 2015

Project will link Russian group’s storage facilities with south Iraq oil terminal

Gas turbine generator

Firms submit prequalification entries for Iraq IPP Subscription

5 April 2015

Independent power project will have a capacity of 750MW

Iraq oil exports hit record level

Iraq oil exports hit record level Subscription

2 April 2015

Surge in exports from southern fields

Energy sector

Taqa cuts capital expenditure on oil price drop Subscription

1 April 2015

UAE-based energy firm reports net loss for 2014

Clashes in Tikrit

US continues Tikrit air strikes Subscription

29 March 2015

Coalition forces assisting Baghdad to retake key northern city from Isis

Onshore oil drilling

Gulf Keystone restarts Shaikan oil production Subscription

22 March 2015

UK-listed group receives pre-payments for exports from Iraqi Kurdistan

Pipe yard

Lukoil tenders permanent pipe yard Subscription

18 March 2015

Package is part of second-phase expansion of West Qurna-2 field in Iraq

Iraq oil and gas projects

Lukoil assessing bids for West-Qurna-2 expansion Subscription

9 March 2015

No awards on Iraq oil field expansion a year after tender

Shia fighters fire a rocket during clashes with militants from Islamic State in Iraq and Syria in the Salahuddin province

Iran influence looms large in Tikrit battle Subscription

5 March 2015

Revolutionary Guards commander overseeing Shia paramilitary groups in Salahuddin offensive

Filter Iraq news by sector


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