Iraq

Iraq ranked No. 55 in total trade value through May with a total of $2.44 billion. Exports totaled $319.38 million and Imports totaled $2.13 billion, a deficit of $1.81 billion.

U.S. trade with Iraq rose to $1.96 billion through May

Iraq’s trade with the United States rose to $1.96 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 25.98 percent below its total trade during the same time period last year. U.S. exports to Iraq decreased 22.11 percent while U.S. imports from Iraq fell 26.58 percent. The U.S. deficit with Iraq was $1.41 billion.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Long Beach; No. 2 Port of Richmond, Calif.; No. 3 Port of Mobile, Ala.; No. 4 Port of Corpus Christi, Texas; and No. 5 Port of Los Angeles. During the same period the previous year, the top five were No. 1 Port of Corpus Christi, Texas; No. 2 Port of Morgan City, La.; No. 3 Port of Houston; No. 4 Port of Port Arthur, Texas and No. 5 Port of Long Beach. In the current time period, the top five accounted for 72.25 percent of Iraq’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Long Beach rose 157.9 percent to $971.95 million.
    Exports rose 19.55 percent to $5.89 million. Imports rose 159.73 percent to $966.06 million.
  • Trade with No. 2 Port of Richmond, Calif. rose 65.42 percent to $361.16 million.
    There were no exports. Imports rose 65.42 percent to $361.16 million.
  • Trade with No. 3 Port of Mobile, Ala. rose 96.15 percent to $169.58 million.
    Exports fell 72.34 percent to $91,984. Imports rose 96.8 percent to $169.49 million.
  • Trade with No. 4 Port of Corpus Christi, Texas fell 75.68 percent to $136.97 million.
    There were no exports. Imports fell 75.68 percent to $136.97 million.
  • Trade with No. 5 Port of Los Angeles fell 53.28 percent to $126.8 million.
    Exports fell 49.09 percent to $2.88 million. Imports fell 53.37 percent to $123.93 million.

Iraq ranked No. 55 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 49.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Iraq by value through May were the categories of Passenger vehicles; Parts for heavy machinery; Misc. aircraft parts; Bombs, grenades, cartridges, parts; and Civilian aircraft, parts, respectively. They accounted for 25.08 percent of total exports to Iraq.

The value of the top five categories of U.S. imports from Iraq –– Oil; Antiques; Jewelry, parts; Cell phones, related equipment; and Vegetable extracts, pectates, agar, etc. –– accounted for 99.98 percent of all inbound shipments.

Looking more closely at U.S. exports to Iraq:

  • Passenger vehicles rose 1.88 percent compared to last year to $18.78 million.
  • Parts for heavy machinery rose 22.42 percent compared to last year to $17.09 million.
  • Misc. aircraft parts rose 14.8 percent compared to last year to $15.81 million.
  • Bombs, grenades, cartridges, parts fell 11.24 percent compared to last year to $14.65 million.
  • Civilian aircraft, parts rose 17.82 percent compared to last year to $13.78 million.

Looking more closely at U.S. imports from Iraq:

  • Oil fell 29.52 percent compared to last year to $2.12 billion.
  • Antiques rose 10100 percent compared to last year to $5.17 million.
  • Jewelry, parts totaled $1.19 million. The previous year, there were no imports in this category.
  • Cell phones, related equipment totaled $575,946. The previous year, there were no imports in this category.
  • Vegetable extracts, pectates, agar, etc. totaled $103,243. The previous year, there were no imports in this category.

In the latest annual figures available, Iraq recorded $8.3 billion in trade with the United States. Total U.S. exports to Iraq were $ 1.28 billion and imports from Iraq were $7.02 billion. The U.S. deficit with Iraq was $5.75 billion.