Shafaq News – Baghdad

The Central Bank of Iraq (CBI) reported on Thursday that Iraq placed third among Arab countries in global trade during 2024, with a 7.6% share.

In a statement, the CBI said the United Arab Emirates held the top spot at 26.7%, followed by Saudi Arabia at 24.2%. Together with Iraq, the three accounted for 59% of total Arab trade.

Crude oil dominated Iraq’s exports, making up 95.7% of the total, while petroleum products and other natural resources contributed 4.7%.

Read more: Without oil: Iraq's economic future hanging in the balance

On the import side, volumes surged 76.7%. Capital goods represented the largest category at 58.5%, followed by consumer goods at 30.7%—a high level given Iraq’s agricultural capacity—and government imports at 10.8%.