Iraq is known economically for its oil sector providing significant part of international exchange earnings. Thus Iraq’s economy relies primarily on oil.
Iraq’s major import sources are China, Iran, Turkey, India, South Korea, the US, and Japan. The top imports of Iraq are refined petroleum, broadcasting equipment, cars, jewelry, and rolled tobacco. The main exports of Iraq are crude petroleum, refined petroleum, gold, tropical fruits, and petroleum coke. The most important destinations of Iraq’s exports are China, India, South Korea, the United States, and Italy. Iraq’s economic forecasted growth for 2022 is 5.52%.