Iraq

The basis of Iraq's economy is oil production and export: nowadays, the oil sector provides about 99.7% of the country's foreign exchange earnings.

The areas suitable for agriculture in the country are about 5,450 thousand hectares, or 1/8 of its entire territory. Up to 4000 thousand hectares are occupied by pastures. Agriculture is impossible in the rest of Iraq due to aridity or salinization of soils, including those caused by insufficient drainage of previously irrigated lands. The main agricultural crops are wheat and barley, for which half of the arable land is allocated, mainly in the humid northern regions. Animal husbandry is mainly represented by the breeding of sheep and goats.

Iraq's agricultural sector is suffering from a shortage of fresh water. Experts predict that up to 25% of farmers in southern Iraq may leave their homes due to water shortages and land depletion.

Iraq has the third proven hydrocarbon reserves in the world. It has the second largest proven oil reserves in the world and is among the world's leading oil states.

Between June 2009 and February 2010, the Iraqi Oil Ministry conducted one of the largest sales of oil field development rights in its history. Some of the largest 8 oil and 2 gas fields in the country were put up for tender. The Government of Iraq reserves a 25% stake in all fields where development contracts have been awarded.

At the end of 2019, the Iraqi electric power industry, according to EES EAEC data, is characterized by - installed capacity – net power plants - 27,412 MW, including: thermal power plants burning organic fuel - 92.7%, renewable energy sources - 7.3%.

Main export goods: crude oil, petroleum products, natural gas, fruits.

The main imported goods are jewelry, packaged medicines, poultry meat, cars.

Main buyers: India, China, USA, South Korea and Greece. Main suppliers: Turkey, China, South Korea, India and Brazil.