Iraq Economic News And Points To Ponder Sunday Afternoon 4-19-26

EIA: Iraq’s Oil Exports To US Dip Over The Week

2026-04-19   Shafaq News- Baghdad/ Washington  Iraq’s crude oil exports to the United States dropped 11,000 barrels per day (bpd) last week, US Energy Information Administration (EIA) data showed on Sunday.

Iraqi shipments averaged 109,000 bpd last week, 9.17% less than the previous week’s average of 120,000 bpd.

Total US crude imports from eight major suppliers fell to 4.675 million bpd, down 947,000 bpd from 5.622 million bpd the previous week.

Canada remained the top supplier at 3.519 million bpd, followed by Venezuela with 412,000 bpd, Saudi Arabia with 249,000 bpd, and Mexico with 145,000 bpd.

Imports also included Colombia at 130,000 bpd, Ecuador at 68,000 bpd, and Brazil at 43,000 bpd. No oil was imported from Nigeria and Libya this week. https://www.shafaq.com/en/Economy/EIA-Iraq-s-oil-exports-to-US-dip-over-the-week-0-2

Dollar Rises In Baghdad And Erbil Markets

2026-04-  Shafaq News- Baghdad/ Erbil   The US dollar opened Sunday’s trading higher in Iraq, hovering around 153,000 dinars per 100 dollars. According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,200 dinars per 100 dollars, up from the previous session’s 152,500 dinars.

In the Iraqi capital, exchange shops sold the dollar at 153,750 dinars and bought it at 152,750 dinars, while in Erbil, selling prices stood at 153,150 dinars and buying prices at 153,000 dinars.

https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-and-Erbil-markets-8

Gold Prices Rise In Baghdad, Stabilize In Erbil

2026-04-19   Shafaq News- Baghdad/ Erbil   On Sunday, gold prices hovered around 1 million IQD per mithqal in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.

Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1,046,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1,042,000 IQD. The same gold had sold for 1,041,000 IQD on Saturday.

The selling price for 21-carat Iraqi gold stood at 1,016,000 IQD, with a buying price of 1,012,000 IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1,045,000 and 1,055,000 IQD, while Iraqi gold sold for between 1,015,000 and 1,025,000 IQD.

In Erbil, 22-carat gold was sold at 1,085,000 IQD per mithqal, 21-carat gold at 1,035,000 IQD, and 18-carat gold at 887,000 IQD.

https://www.shafaq.com/en/Economy/Gold-prices-rise-in-Baghdad-stabilize-in-Erbil-2-2

EA Proposes Basra–Ceyhan Pipeline To Bypass Hormuz

2026-04-19   Shafaq News- Basra   A new oil pipeline linking Iraq’s Basra fields to Turkiye’s Ceyhan terminal on the Mediterranean has been proposed to reduce reliance on the Strait of Hormuz and strengthen energy supply security, particularly for Europe, Executive Director of the International Energy Agency (IEA) Fatih Birol said on Sunday.

Speaking to Hurriyet, Birol said the Basra–Ceyhan pipeline could be “critically important” for Iraq, Turkiye, and regional supply security, adding that financing challenges could be overcome and that the project requires a political agreement between Baghdad and Ankara.

He noted that Iraq exports about 90% of its oil through the Strait of Hormuz from Basra ports, which hold reserves estimated at around 90 billion barrels, warning that disruptions to maritime traffic in the strait would have severe consequences.

The proposal comes amid renewed tensions in Hormuz, where Iran has reimposed navigation restrictions after briefly reopening the waterway, prompting some gas tankers to reroute.

Birol said the pipeline is no longer just an economic option but a strategic necessity for Iraq, and an opportunity for Turkiye and Europe to enhance energy security.

Turkiye has previously proposed expanding oil infrastructure linking Ceyhan with Iraq, including plans extending from Kirkuk southward as part of a broader trade corridor connecting Iraq’s Al-Faw port to Turkiye.

Read more: Iraq’s oil bottleneck: Abundance trapped by dependency

https://www.shafaq.com/en/Economy/IEA-proposes-Basra-Ceyhan-pipeline-to-bypass-Hormuz

US Dollar Drops In Baghdad And Erbil Markets

2026-04-19 Shafaq News- Baghdad/ Erbil   The US dollar closed Sunday's trading lower in Iraq at around 153,000 dinars per 100 dollars. According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,000 dinars per 100 dollars, up from the morning session’s 153,200 dinars.

In the Iraqi capital, exchange shops sold the dollar at 153,500 dinars and bought it at 152,500 dinars, while in Erbil, selling prices stood at 153,000 dinars and buying prices at 152,850 dinars.

https://www.shafaq.com/en/Economy/US-dollar-drops-in-Baghdad-and-Erbil-markets-8

Iraq Targets Unemployment Reduction Via Farm, Industry Push

2026-04-19   Shafaq News- Baghdad   Iraq is seeking to reduce unemployment, currently around 13%, by expanding domestic production through agriculture and industry, Prime Minister’s financial adviser Mudher Mohammed Salih said on Sunday.

Salih told Shafaq News that the policy focuses on boosting grain output through above-market procurement, input support, and crop planning, alongside measures to support industry, including land allocation, fuel supply, technology imports, and financing initiatives to expand private-sector factories.

He said more than 1,300 industrial projects are being supported, with over one trillion Iraqi dinars (about $760 million) allocated as sovereign guarantees to enable private firms to secure foreign financing for projects linked to construction and industrial value chains. A planned “Riyada Bank” is expected to provide financing for small businesses and youth-led initiatives.

The push comes as data point to a gap between production and imports. Economist Manar Al-Obaidi said Iraq’s roughly 1,200 medium and large industrial projects generate no more than 7 trillion dinars (about $5.3 billion) annually, compared with imports exceeding 100 trillion dinars.

He added that the sector provides about 50,000 jobs, rising to around 100,000 including informal labor, against roughly 500,000 new entrants to the labor market each year, while growth of about 5% in large projects has yet to make industry a significant contributor to GDP. Read more: The rentier trap: Iraq’s existential reform race

https://www.shafaq.com/en/Economy/Iraq-targets-unemployment-reduction-via-farm-industry-push