Iraq

Iraq ranked No. 56 in total trade value through April with a total of $1.96 billion. Exports totaled $274.49 million and Imports totaled $1.68 billion, a deficit of $1.41 billion.

U.S. trade with Iraq rose to $1.66 billion through March

Iraq’s trade with the United States rose to $1.66 billion through the first three months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 22 percent below its total trade during the same time period last year. U.S. exports to Iraq decreased 24.27 percent while U.S. imports from Iraq fell 21.65 percent. The U.S. deficit with Iraq was $1.23 billion.

Through March, 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 Los Angeles; No. 4 Port of Corpus Christi, Texas; and No. 5 Port of Mobile, Ala.. During the same period the previous year, the top five were No. 1 Port of Port Arthur, Texas No. 2 Port of Corpus Christi, Texas No. 3 Port of Morgan City, La. No. 4 Port of Houston and No. 5 Port of Los Angeles. In the current time period, the top five accounted for 72.92 percent of Iraq’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Long Beach rose 278.79 percent to $604.88 million.
    Exports fell 18.54 percent to $3.26 million. Imports rose 286.42 percent to $601.63 million.
  • Trade with No. 2 Port of Richmond, Calif. rose 222.66 percent to $252.61 million.
    There were no exports. Imports rose 222.66 percent to $252.61 million.
  • Trade with No. 3 Port of Los Angeles fell 32.59 percent to $125.22 million.
    Exports fell 73.66 percent to $1.3 million. Imports fell 31.47 percent to $123.93 million.
  • Trade with No. 4 Port of Corpus Christi, Texas fell 64.68 percent to $122.34 million.
    There were no exports. Imports fell 64.68 percent to $122.34 million.
  • Trade with No. 5 Port of Mobile, Ala. rose 67449 percent to $104.58 million.
    There were no exports. Imports totaled $104.58 million.

Iraq ranked No. 54 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 48.

Meanwhile, total U.S. trade with the world increased to $964.77 billion, down 4.16 percent compared to the same period last year. The nation’s exports dropped 3.07 percent to $395.69 billion; imports dropped 4.91 percent to $569.09 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $173.4 billion, down compared to the same period of last year when the deficit was $190.25 billion.

The top five U.S. exports to Iraq by value through March were the categories of Bombs, grenades, cartridges, parts; Aircraft engines, engine parts; Passenger vehicles; Civilian aircraft, parts; and Motor vehicle parts, respectively. They accounted for 26.66 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 99.97 percent of all inbound shipments.

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

  • Bombs, grenades, cartridges, parts rose 69.55 percent compared to last year to $14.65 million.
  • Aircraft engines, engine parts rose 15.75 percent compared to last year to $12.85 million.
  • Passenger vehicles rose 18.18 percent compared to last year to $11.61 million.
  • Civilian aircraft, parts rose 68.23 percent compared to last year to $10.74 million.
  • Motor vehicle parts rose 35.93 percent compared to last year to $7.05 million.

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

  • Oil fell 22.04 percent compared to last year to $1.44 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.