Economy overview: The central place in the economy of Iraq is occupied by the oil sector, which traditionally brings the country about 95% of foreign exchange earnings. In the 1980s financial problems, caused by the enormous costs of the eight-year war with Iran and the damage inflicted by Iran on the oil export sector, forced the government to take tough measures, incur heavy debts, and subsequently achieve an extension of the terms of the external debt repayment; The damage caused to the Iraqi economy by the war is at least $100 billion. After the end of hostilities in 1988, oil exports gradually increased due to the construction of new pipelines and the restoration of destroyed enterprises. Iraq’s invasion of Kuwait in August 1990, international economic sanctions caused by the invasion, and damage inflicted on Iraq in January 1991 armed forces of the international coalition, catastrophically reduced economic activity. The government’s policy of funding the military and internal security forces, as well as a tendency to hand over control of natural resources to supporters of the ruling regime, exacerbated the budget deficit. Launched in December 1996, the United Nations’ oil-for-food swap program helped improve economic conditions. During the first six phases of the program (each lasting six months), Iraq was allowed to export a limited amount of oil in exchange for food, medicine, and some items needed to keep the infrastructure running. In December 1999, the UN Security Council allowed Iraq to export as much oil under this program as needed to meet humanitarian needs. Oil export volumes today are about three-quarters of pre-war volumes. Food imports per capita have since risen substantially, and medical supplies and medical care have been on the rise. Per capita production and living standards are still below pre-war levels, but any estimates remain rough. See cheeroutdoor.com to know more about Iraq Business.
GDP: at purchasing power parity – $57 billion (2000 est.).
Real GDP growth rate: 15% (2000 est.).
GDP per capita: Purchasing power parity – $2,500 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 6%; industry: 13%; services: 81% (1993 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 100% (2000 est.).
Labor force: 4.4 million people (1989).
Employment structure: no data.
Unemployment rate: no data.
Budget: income: no data; costs: no data.
Spheres of economy: oil production, chemical industry, textile industry, production of building materials, food industry.
Growth in industrial production: no data available.
Electricity generation: 29.42 billion kWh (1999).
Sources of electricity generation: fossil fuels: 97.96%; hydropower: 2.04%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 27.361 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: wheat, barley, rice, vegetables, dates, cotton; livestock, sheep.
Export: $21.8 billion (2000 est.)
Export items: crude oil.
Export partners: Russia, France, Switzerland, China (2000).
Imports: $13.8 billion (2000 est.)
Import articles: food, medicines, manufactured goods.
Import partners: Russia, France, Egypt, Vietnam (2000).
External debt: $139 billion (2000 est.) Economic aid recipient: $327.5 million (1995)
Economic aid donor:
Currency: Iraqi dinar.
Currency code: IQD.
Exchange rate: IQD/USD -0.3109 (fixed official rate since 1982); black market rate: IQD/USD – 1,910 (December 1999), 1,815 (December 1998), 1,530 (December 1997), 3,000 (December 1995); exchange rates are constantly fluctuating.
Fiscal year: calendar year.
Telecommunications Telephone lines: 675,000 (1995).
Mobile cellular phones: no data available; Cellular networks exist in northern Iraq (2001).
Telephone system: The reconstruction of the telecommunications system began after the end of the Gulf War; most of the destroyed stations have been rebuilt; domestic: system consisting of coaxial cables and microwave radio relay; international: satellite earth stations -2 Intelsat (1 Atlantic and 1 Indian Ocean), 1 Intersputnik (Atlantic Ocean region) and 1 Arabsat (not active); coaxial cable and microwave radio relay to Jordan, Kuwait, Syria and Turkey; the Kuwaiti line is probably out of service.
Broadcast stations: AM -19 (5 of them do not work), FM – 51, shortwave – 4 (1998).
Radio receivers: 4.85 million (1997)
Television broadcast stations: 13 (1997).
Televisions: 1.75 million (1997)
Internet country code: iq
Internet service providers: 1 (2000).
Number of users: no data.
Transport Railways: total length: 2,032 km; with standard gauge: 2,032 km (1.435 m gauge); note: rail link between Iraq and Syria was re-established in 2000 after a nineteen-year hiatus.
Roads: total length: 45,550 km; coated: 38,400 km; unpaved: 7,150 km (1996 est.).
Waterways: 1,015 km; 130 km of Shatt al-Arab are usually navigable for maritime water transport; the channel has been cleared to a depth of 3 m and is currently in use; the rivers Tigris and Euphrates are navigable in some parts for ships with a small draft; The Shatt al-Basra Canal was navigable until it was closed due to the Gulf War.
Pipelines: for crude oil – 4,350 km; for oil products – 725 km; for natural gas – 1,360 km.
Ports and harbours: The ports of Umm Qasr, Qawr al-Zubair and Basra are underutilized.
Merchant fleet: total: 30 ships (displacement 1,000 tons or more) with a total displacement of 453,273 gross register tons / 779,662 long tons of gross tonnage; ships of various types: cargo ships – 14, passenger ships – 1, cargo-passenger ships – 1, oil tankers – 12, refrigerated ships – 1, ferries – 1 (2000 est.).
Airports: 110 (2000 est.).
Airports with paved runways: total: 76; over 3047 m:20; from 2438 to 3047 m: 36; from 1,524 to 2,437 m: 6; from 914 to 1,523 m: 7; less than 914 m: 7 (2000 est.).
Airports with unpaved runways: total: 34; over 3,047 m: 3; from 2438 to 3047 m:5; from 1,524 to 2,437 m: 4; from 914 to 1523 m:10; less than 914 m: 12 (2000 est.). Helipads: 4 (2000 est.).
Branches of the Armed Forces: Army, Republican Guard, Navy, Air Force, Air Defense Forces, Border Guard Forces, Fedayina Saddam.
Enlistment age: 18 years old.
Total Military Manpower: Male 15 to 49: 5,902,215 (2001 est.).
Eligible for military service: men aged 15 to 49: 3,301,880 (2001 est.).
Number of persons reaching military age each year: male: 274,035 (2001 est.).
Military spending in dollar terms: no data available.
Military spending as part of GDP: no data available.
International Issues International Disputes: Iran and Iraq resumed diplomatic relations in 1990, but have yet to reach a written agreement on the main points of contention that led to the eight-year war; among these issues are the definition of the border, the fate of the prisoners and the question of freedom of movement in the Shatt-ep-Arab and sovereignty over it; in November 1994, Iraq officially recognized the border with Kuwait, the location of which is determined by UN Security Council resolutions No. 687 (1991), 773 (1993) and 883 (1993); Iraq’s recognition of this boundary puts an end to all its claims to Kuwait territory and the islands of Bubiyan and Warba, although the government makes rhetorical claims from time to time; there are also disagreements with Turkey on the use of the waters of the Tigris and Euphrates rivers.