Figures sourced from SOMO, Shafaq News, OEC, Reuters, and international institutions (2023–2025).
Iraq's Largest Trading Partners
Annual trade volume in USD billions, ranked by size. Sources: OEC, Shafaq News, SOMO, US Census Bureau (2023–2024).
Imports & Exports by Major Partner
| Country / Region | Iraq Exports | Iraq Imports | Net Balance | Trend |
|---|---|---|---|---|
| China | $19B | $38B | −$19B | |
| India | $29.6B | $0.4B | +$29.2B | |
| Turkey | $1.5B | $12.8B | −$11.3B | |
| UAE | $0.3B | $22B | −$21.7B | |
| Iran | <$1B | $10B | −$9B | |
| United States | $7.5B | $2.2B | +$5.3B | |
| South Korea | $16.9B | $1.2B | +$15.7B | |
| Jordan | $0.9B | $1B | −$0.1B |
Major Agreements & Diplomatic Visits 2023–2025
A chronological record of key events shaping Iraq's international relations.
TotalEnergies $27B deal signed
Iraq and France's TotalEnergies finalized a $27B energy agreement for four projects covering oil, gas, renewables, and seawater treatment in Basra over 25 years. TotalEnergies 45%, QatarEnergy 25%, Basrah Oil Company 30%.
Erdogan visits Baghdad — 24 MoUs signed
First visit by a Turkish president to Baghdad since 2011. Erdogan and al-Sudani witnessed the signing of 24 MoUs covering economy, security, health, and education, and established permanent joint committees.
Development Road Agreement signed (Iraq–Turkey–UAE–Qatar)
Iraq, Turkey, UAE, and Qatar signed a foundational MoU for the $17B Development Road project, linking Grand Faw Port in the south to Turkey via 1,200 km of road and rail infrastructure.
Al-Sudani visits Washington, meets Biden
Iraq's PM met President Biden to reinforce the US–Iraq Strategic Framework Agreement, discuss military withdrawal timelines, and encourage US energy investment in Iraq.
Iranian President Pezeshkian's official visit to Baghdad
First official visit by Iran's new president to Baghdad, consolidating Iraq–Iran ties in energy, trade, and security. Gas and electricity supply contracts discussed for renewal.
Iraq hosts 34th Arab League Summit
Baghdad hosted the Arab League Summit with leaders from 22 states — Iraq's most prominent multilateral diplomatic moment in years. Visits from Spain, UN, Qatar, Egypt, and Palestine.
China consolidates dominance over Iraqi oil sector
Chinese firms now manage ~66% of Iraqi oil output (~3M bpd), with the 2021 Iraq-China Framework Agreement granting discounts of up to 30%. Total bilateral trade exceeded $54B in 2023.
ExxonMobil returns to Iraq
ExxonMobil signed an agreement to re-enter Iraq and operate the Majnoon oilfield in Basra, after fully exiting in January 2024. Part of al-Sudani's push to diversify partnerships and attract Western investment.
Oil-for-Infrastructure deal with China (100K bpd)
Agreement for Iraq to supply China 100,000 bpd in exchange for infrastructure development. Deal was temporarily suspended mid-2024 amid negotiations on terms, then restarted.
US–Iraq Strategic Framework: transition negotiations
US-Iraq Higher Coordinating Committee meetings held in 2023–2024. Third TIFA Council meeting in May 2024. International Coalition mission formally concluded by end-2025, with bilateral security cooperation continuing.
Methodology & Sources
The observatory draws on open data from credible international institutions, with figures updated when new official estimates are published.
- Time scope Trade data covers 2023–2024; diplomatic events tracked through May 2025.
- Trade sources SOMO, UN Comtrade, OEC World, US Census Bureau, Turkish Foreign Ministry official statistics.
- Agreements sources Iraqi Ministry of Foreign Affairs (mofa.gov.iq), Reuters, Daily Sabah, Atlantic Council, Carnegie Endowment.
- Update cadence Periodic review upon release of official statistics or major international reports on Iraq's relations.
- Iraq SOMO — shafaq.com/en (January 2025)
- Shafaq News — shafaq.com (H1 2024 trade)
- OEC World — oec.world/en/profile/country/irq
- Reuters — reuters.com (TotalEnergies July 2023; Development Road April 2024)
- Daily Sabah — dailysabah.com (Turkey visit April 2024)
- US Census Bureau — census.gov/foreign-trade
- Atlantic Council — atlanticcouncil.org (China-Iraq 2026)
- Carnegie Endowment for International Peace — carnegieendowment.org
- TotalEnergies — totalenergies.com/company/projects/gas/ggip
- US Trade Representative USTR — ustr.gov (TIFA Council May 2024)
- IMF Article IV Consultation 2024 — imf.org
- World Bank — worldbank.org