Iraq's Imports Surge 73% In 2025
2026-10-24 10:16 Shafaq News- Baghdad Iraq's imports rose 72.6% to $72.3 billion in 2025, compared with $41.9 billion in 2024, according to Iraq's General Authority for Statistics and Geographic Information Systems.
The authority's figures put non-oil goods imports at $70.8 billion, up 77.9% from $39.8 billion a year earlier, while imports of petroleum products fell from $2.1 billion to $1.5 billion.
China ranked as Iraq's largest source of non-oil goods imports, accounting for $30.9 billion, or 43.7% of the total, followed by Iran at 8.4% and the United Arab Emirates at 8.1%.
Imports through seaports reached $49.3 billion, up from $25.6 billion in 2024, while land crossings handled $14.6 billion and airports $6.9 billion.
October recorded the highest monthly import value at $8.8 billion, representing 12.2% of the annual total.
Iraq relies on imports for about 95% of its market needs, excluding grains supplied through the food ration system, according to the Prime Minister's financial adviser Mudher Saleh. He estimated annual private-sector imports of goods and services at $50 billion, rising to $70 billion when government imports are included.
https://shafaq.com/en/Economy/Iraq-s-imports-surge-73-in-2025
Oil Minister Presses For Faster Iraqi Tanker Purchases
2026-10-24 15:03 Shafaq News- Baghdad Iraq must accelerate procedures to buy oil tankers to support exports and government revenue, Oil Minister Basim Al-Abadi said on Saturday, citing financial pressure from the Strait of Hormuz crisis.
Earlier this month, Al-Abadi said the ministry was considering buying 10 supertankers at an estimated cost of $2 billion, with financing options under review. Saturday's statement did not announce any completed purchases or a procurement timetable.
The minister said Iraq had achieved strong export results in September and October, with rates comparable to those recorded before the Hormuz crisis. On October 19, he reported that crude exports had exceeded 3.4 million barrels per day in October through the Strait of Hormuz, Turkiye's Ceyhan port, and tanker trucks via Syria.
Al-Abadi also called for rehabilitating oil wells, increasing production, and ensuring that companies operating Iraqi oilfields meet their contractual development obligations. He directed officials to maintain aging refineries, expand strategic fuel reserves to safeguard domestic supplies, and advance projects to capture associated gas and develop gas fields.
Oil accounts for more than 90% of Iraq's government revenue. The country has sought alternative export routes and a larger state-owned tanker fleet to maintain crude shipments and government revenue despite disruptions to shipping through the Strait of Hormuz.
Read more: Iraq’s oil bottleneck: Abundance trapped by dependency
https://shafaq.com/en/Economy/Oil-minister-presses-for-faster-Iraqi-tanker-purchases
US Records Fourth Consecutive Week Without Iraqi Crude
2026-10-25 03:16 Shafaq News- Baghdad/ Washington US crude oil imports from Iraq remained at zero for a fourth consecutive week, data from the US Energy Information Administration (EIA) showed on Sunday.
Overall US crude imports from ten major suppliers averaged 5.300 million bpd, down 107,000 bpd from 5.407 million bpd the previous week.
Canada remained the largest supplier at 3.902 million bpd, followed by Venezuela at 571,000 bpd, and Brazil at 183,000 bpd. Saudi Arabia supplied 176,000 bpd, Mexico 154,000 bpd, Colombia 122,000 bpd, Argentina 100,000 bpd, Guyana 80,000 bpd, and Nigeria 12,000 bpd.
https://shafaq.com/en/Economy/US-records-fourth-consecutive-week-without-Iraqi-crude
US Dollar Dips In Baghdad And Erbil
2026-10-25 03:45 Shafaq News- Baghdad/ Erbil The US dollar opened Sunday’s trading lower in Iraq, hovering around 168,500 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 168,550 dinars per 100 dollars, down from the previous session’s 168,900 dinars.
In the Iraqi capital, exchange shops sold the dollar at 169,000 dinars and bought it at 168,000 dinars, while in Erbil, selling prices stood at 168,500 dinars and buying prices at 168,450 dinars. https://shafaq.com/en/Economy/US-dollar-dips-in-Baghdad-and-Erbil-6
Gold Retreats In Baghdad, Edges Higher In Erbil
2026-10-25 05:11 Shafaq News- Baghdad/ Erbil On Sunday, gold prices fell in Baghdad but rose in Erbil markets, hovering around 950,000 IQD per mithqal, according to a Shafaq News survey.
Gold prices on Baghdad’s Al-Nahr Street recorded a selling price of 944,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 940,000 IQD, down from 946,000 IQD on Saturday.
The selling price for 21-carat Iraqi gold stood at 914,000 IQD, while the buying price reached 910,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 945,000 and 955,000 IQD, while Iraqi gold sold for between 915,000 and 925,000 IQD.
In Erbil, 22-carat gold was sold at 1,003,000 IQD per mithqal, 21-carat gold at 958,000 IQD, and 18-carat gold at 821,000 IQD.
https://shafaq.com/en/Economy/Gold-retreats-in-Baghdad-edges-higher-in-Erbil
CBI Foreign Currency Sales Rise 8.8% In September
2026-10-25 05:52 Shafaq News- Baghdad
Foreign currency sales by the Central Bank of Iraq (CBI) rose 8.8% to $4.021 billion in September 2026, up $324 million from August, according to the CBI data.
September sales included $249 million in cash and $3.772 billion to boost banks' balances abroad.
The data also showed that foreign currency sales reached $39.294 billion in the first nine months of 2026, comprising $1.988 billion in cash sales and $37.306 billion to boost banks' balances abroad.
In August, sales totaled $3.697 billion, including $270 million in cash and $3.427 billion to boost banks' balances abroad.
For the full year 2025, the CBI recorded $80.363 billion in foreign currency sales, compared with $77.652 billion in 2024.
https://shafaq.com/en/Economy/CBI-foreign-currency-sales-rise-8-8-in-September