Iraq’s economy predominantly depends on its oil production; 84% of the country’s export consists of crude oil.
Despite the political turmoil of the past years, which is still continuing in parts of the country, Iraq’s GDP is growing with an impressive 6,8% – in 2013 the GDP amounted 221,8 billion USD. Dutch exports to Iraq include mainly machineries, means of transport, electronics and medical equipment. However, Iraq is in high need of a range of goods and services in order to rebuild the country and the government of Iraq is eager to attract foreign direct investment. Shortages are most importantly in Infrastructure, Essential Services and Agriculture.
In the recent years, numerous inbound and outbound trade missions have taken place, on the sectors Agriculture, Water Management, and Energy.