About Iraq's economy

The Iraqi economy is heavily reliant on the oil sector, which accounts for over 95% of government revenue and about 60% of GDP. Iraq is the world's fifth-largest oil producer, with proven oil reserves of 143 billion barrels, the fifth-largest in the world. The country's economy has been volatile in recent years due to political instability and conflict, but it is expected to grow by 2.8% in 2021. Iraq's main trading partners are China, India, and Turkey. The country's main exports are crude oil, while its main imports are machinery, food, and chemicals. Government procurement is a significant driver of economic activity in Iraq. The government is expected to spend over $100 billion on public projects in 2023.

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Benefits of using GlobalTenders.com to search for Global Iraq tenders

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Collaboration: Partner with other businesses in Iraq to expand your capabilities and secure larger projects.

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