Iraq’s National Economy
(2025 - Estimated):
|
GDP (billion $)
|
265.460
|
|
Real GDP Growth Rate (%)
|
0,5
|
|
GDP per capita ($)
|
5.832 $
|
|
Export (billion $)
|
89,5
|
|
Import (billion $)
|
74,5
|
|
Rate of Unemployment (%)
|
14,75
|
|
Foreign exchange reserves (billion $)
|
91
|
|
External debt (public) (billion $)
|
55,2
|
|
External debt /GDP (%)
|
20,8
|
|
Budgetary deficit/GDP (%)
|
4,3
|
|
Consumer price inflation (%)
|
2,9
|
Major Trade Partners: China, India, Türkiye, U.S.A., South Korea,
UAE, Iran
Major Export Items: Crude oil and oil products.
Major Import Items: Machinery, motor vehicles, cereals, iron
and steel
Bilateral Commercial and Economic Relations
Major Exports to Iraq: Jewelry items, machinery, furniture,
textiles, milling products, plastic products, construction materials, iron
and steel products, garments, food products.
Major Imports from Iraq: Crude oil, jewelry, copper and
copper products.
Number of Iraqi tourists visiting Türkiye: 1.031.257 (2025 / Ministry of Culture and Tourism of the Republic of Türkiye)
Weekly flights: In the 2025-26 winter season, Turkish
carriers are permitted 104 frequencies authorizations, while Iraqi carriers
are permitted 113 frequencies.
Bilateral Cooperation Mechanisms:
- Joint Economic Commission (JEC): The latest and 19th of
the JEC meetings was held in Baghdad on November 21-22, 2023.
- Business Council: Türkiye-Iraq Business Council was
established in 2001. Turkish Co-Chairman of the Council is Halit Acar
(Acarsan Holding), and the Iraqi Co-Chairman is Jafar Rasul Al-Hamadani
(President of the Federation of Iraqi Chambers of Commerce). On the margins
of the official visit of President Erdoğan to Iraq on April 22, 2024,
Türkiye-Iraq Economic Forum Roundtable meeting was organized in Baghdad by
DEİK (Foreign Economic Relations Board of Türkiye). Also, a Memorandum of
Understanding was signed between DEİK and the Federation of Iraqi Chambers
of Commerce during this visit. The last Türkiye-Iraq Roundtable Meeting was
held on May 8, 2025 in Ankara, with the participation of the Minister of
Trade of the Republic of Türkiye, Prof. Dr. Ömer Bolat, the Minister of
Trade of the Republic of Iraq, Atir El-Gireyri, Deputy Minister of Trade of
the Republic of Türkiye, Mustafa Tuzcu, the President of DEİK, Nail Olpak,
the Chairman of the DEİK/Türkiye-Iraq Business Council, Halit Acar, and
business people.
A delegation led by the Minister of Trade of the Republic of Türkiye, Prof.
Dr. Ömer Bolat visited Baghdad on October 30, 2025, as part of the Baghdad
Turkish Export Products Fair and the Iraq General Trade and Contracting
Delegation Program. The program included the inauguration of the Iraq
Turkish Export Products Fair and a "Roundtable Meeting between Turkish
Contracting Companies and Iraqi Employer Administrations", which was
moderated by the President of the Turkish Contractors Association, M. Erdal
Eren.
- Joint Land Transport Commission:
The latest meeting was held in Ankara, on December 16-17, 2025.
- Türkiye-Iraq Business Forum: It was launched by former
Minister of Trade, Ms. Ruhsar Pekcan, and former Iraqi Minister of Trade,
Dr. Mohammed Hachim Al-Ani, on 20 June 2019.
- Joint Economic and Trade Commission (JETCO): During the
visit of President Erdoğan to Iraq on April 22, 2024, a Memorandum of
Understanding was signed between Türkiye and Iraq regarding the
establishment of JETCO. The first meeting of JETCO was held in Istanbul on
December 2-3, 2024 and the second meeting was held in Baghdad on October 30,
2025.