Iraq Economic News and Points To Ponder Thursday Morning 2-11-26
Iraq ranks second top importer of Jordanian goods in January
2026-02-12 Shafaq News- Baghdad/ Amman Iraq ranked second among the top importers of goods certified by the Amman Chamber of Commerce in January, with imports valued at 47 million Jordanian dinars (around $33 million), according to data released on Thursday.
The chamber said it issued 2,279 certificates of origin during the first month of the year, up 2.7% from 2,219 certificates in January last year. The total value of certificates of origin rose 32.2% to approximately 155 million dinars, compared with 116 million dinars in the same period a year earlier.
Switzerland topped the list of countries by value of certificates issued, with 52 million dinars through eight certificates. Iraq ranked second, followed by Saudi Arabia, Syria, and Egypt.
Separate data from the chamber showed that Jordan’s exports to Iraq rose 4.5% in 2025 to 1.016 billion dinars ($1.43 billion), compared with 972 million dinars ($1.37 billion) the previous year.
https://www.shafaq.com/en/Economy/Iraq-ranks-second-top-importer-of-Jordanian-goods-in-January
Global oil demand to rise 850 kb/d in 2026
2026-02-12 Shafaq News- London Global oil demand is forecast to grow by 850,000 barrels per day (kb/d) in 2026, up from 770 kb/d last year, with non-OECD economies accounting for the entire increase, the International Energy Agency (IEA) said in a new report.
According to IEA data, world oil supply fell sharply by 1.2 million barrels per day (mb/d) in January to 106.6 mb/d, as severe winter weather disrupted operations in North America, while outages and export constraints reduced flows from Kazakhstan, Russia, and Venezuela. After expanding by nearly 3.1 mb/d in 2025, global oil output is projected to rise by 2.4 mb/d in 2026 to reach 108.6 mb/d, with growth expected to be evenly split between OPEC+ producers and non-OPEC+ countries.
Global refinery crude throughputs declined from a record 86.3 mb/d in December to 85.7 mb/d in January, reflecting seasonal maintenance and weaker refining margins. For 2026, crude runs are forecast to increase by an average of 790 kb/d to 84.6 mb/d, led by non-OECD regions, compared with a rise of nearly 1 mb/d in 2025. Refining margins fell further in January as stronger December runs eased tightness in product markets.
Earlier today, oil prices edged higher, with Brent crude rising 27 cents to $69.67 a barrel and US West Texas Intermediate gaining 29 cents to $64.92, as escalating US-Iran tensions fueled concerns that potential attacks on Tehran or regional shipping routes could disrupt supply. https://www.shafaq.com/en/Economy/Global-oil-demand-to-rise-850-kb-d-in-2026
Iraq’s Imports From Brazil Exceed $1.4B In 2025
2026-02-12 Shafaq News- Baghdad Iraq’s imports from Brazil reached $1.49 billion in 2025, marking a 21.3% decline compared with 2024, according to data from the United Nations International Trade Statistics Database (COMTRADE).
The figures place Iraq as Brazil’s third-largest Arab trading partner during the year, after the United Arab Emirates and Saudi Arabia.
According to COMTRADE, sugar and related products ranked as the largest imported category at $374 million, followed by meat at $324 million. Oil seeds, vegetable oils, and related products totaled $263 million, while live animal imports reached $171 million. Grain imports amounted to $167 million, in addition to iron products, metal goods, and other commodities.
Data from Brazil’s Ministry of Development, Industry, Trade, and Services, compiled by the Market Intelligence department of the Arab-Brazilian Chamber of Commerce (ABCC), also showed that Iraqi imports from Brazil stood at $1.490 billion in 2025, down from $1.900 billion in 2024, but higher than the $1.300 billion recorded in 2023.
https://www.shafaq.com/en/Economy/Iraq-s-Imports-from-Brazil-exceed-1-4B-in-2025
Iraq Leads Importers Of Iranian Agricultural And Food Products
2026-02-12 Shafaq News- Baghdad/ Tehran Iraq ranked as the largest importer of Iranian agricultural and food products during the first nine months of the current Iranian year, which ends in March 2026, according to Iran’s National Center for Strategic Studies of Agriculture and Water, affiliated with the Iran Chamber of Commerce.
The report showed that Iraq accounted for 39% of Iran’s total agricultural commodity exports during the period, while its share of Iranian food industry exports reached 50%.
Key exports to Iraq included dairy products, vegetables such as tomatoes and cucumbers, fruits including apples and watermelons, as well as dates.
Most agricultural shipments to Iraq originated from Iran’s western and southwestern provinces, particularly Khuzestan, Kermanshah, and Ilam, which border Iraq and serve as key trade corridors.
After Iraq, the United Arab Emirates ranked second, accounting for 21% of Iran’s agricultural exports. Russia followed with 10%, Pakistan with 5%, and Afghanistan with 4%. Other destinations included Oman, Turkiye, Turkmenistan, India, and Qatar, each holding shares ranging between 2% and 3%.
Data from the Islamic Republic of Iran Customs Administration (IRICA) showed that Iraq also remained the top destination for Iranian agricultural and food exports in 2024, purchasing between $1.4 billion and $1.7 billion worth of goods during the first nine to eleven months of the year. The figure represented nearly one-third of Iran’s total exports in this category. https://www.shafaq.com/en/Economy/Iraq-leads-importers-of-Iranian-agricultural-and-food-products
Dollar Rise In Iraq's Baghdad And Erbil Markets
2026-02-12 Shafaq News- Baghdad/ Erbil The US dollar opened Thursday’s trading higher in Iraq, gaining 500 dinars in Baghdad compared with Wednesday’s rates.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 150,600 dinars per 100 dollars, up from 150,100 dinars.
In the Iraqi capital, exchange shops sold the dollar at 151,000 dinars and bought it at 150,000 dinars.
In Erbil, selling prices stood at 150,250 dinars per 100 dollars and buying prices at 150,150 dinars.
https://www.shafaq.com/en/Economy/Dollar-rise-in-Iraq-s-Baghdad-and-Erbil-markets
Precious Metals Retreat As Dollar Firms And Yields Reprice
2026-02-12 Shafaq News Gold prices dipped on Thursday as the U.S. dollar firmed after stronger-than-expected January jobs data dented expectation for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues.
Spot gold edged 0.3% lower to $5,063.11 per ounce by 0453 GMT. It closed Wednesday with a more than 1% gain.
U.S. gold futures for April delivery lost 0.3% to $5,083.90 per ounce.
"The stronger jobs report leading to a slight pare back in Fed rate-cut expectations may have played a role in gold's lacklustre move," said Christopher Wong, a strategist at OCBC.
The U.S. dollar index (.DXY) rose following the surprisingly strong employment report that suggested underlying U.S. economic health. A stronger dollar makes greenback-priced metals more expensive for other currency holders.
"Sensitivity to the dollar, yield repricing, and uncertainty around Fed policy should continue to pose two-way risks for gold in the interim," Wong said.
U.S. job growth unexpectedly accelerated in January and the unemployment rate fell to 4.3%, though the largest increase in payrolls in 13 months likely exaggerates the labour market's health, as revisions showed the economy added only 181,000 jobs in 2025 instead of the previously estimated 584,000.
The U.S. budget deficit will grow slightly in fiscal 2026 to $1.853 trillion, the Congressional Budget Office forecast on Wednesday, showing that on balance, President Donald Trump's economic policies are worsening the country's fiscal picture amid low economic growth.
The Federal Reserve will keep rates unchanged through Chair Jerome Powell's term ending in May but cut immediately afterward in June, a Reuters poll showed, with economists warning that policy under his likely successor, Kevin Warsh, could become too loose.
Investors now await the weekly jobless claims report on Thursday and inflation data on Friday for more cues on the Fed's monetary policy path.
Spot silver fell 0.8% to $83.32 per ounce, after a 4% climb on Wednesday.
Spot platinum shed 0.8% to $2,113.79 per ounce, while palladium rose 0.9% to $1,715.30.
(Reuters) https://www.shafaq.com/en/Economy/Precious-metals-retreat-as-dollar-firms-and-yields-reprice