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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

Nouri al-Maliki

Iraq's ill-equipped prime minister

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

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

More MEED commentary

Iraq trends

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

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

Dubai’s Mall of the World boosts index Subscription

17 July 2014

UAE and Bahrain are the outstanding markets of the week

Gulf Projects Index

Four Gulf states keep index stable Subscription

10 July 2014

Growth in Oman, Iraq, the UAE and Saudi Arabia cancels out decline in Kuwait

Gulf projects index

Iraq and UAE weigh on projects index Subscription

3 July 2014

Index slips as projects reach completion or stall in some countries, while Bahrain’s market leads growth 

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

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

Iraq in crisis

Iraq

Iraq violence is about money not religion

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

Construction

Suleimaniyah steps out of the wings Subscription

The region’s second city is attracting the interest of property developers

Ramp up: Oil exports reportedly exceeded 2.5 million barrels a day in April 2014

Insurgency to end growth story in Iraq Subscription

The crisis that has engulfed Iraq in June threatens to break the country apart and bring to an end an impressive story of economic growth

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MEED events

kurdistan

Kurdistan Projects 2014

Detailing investment opportunities accross the Kurdistan region of Iraq

More MEED events

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