Iraq – Market overview
While the business environment is improving in Iraq, numerous challenges remain in place, such as heavy bureaucracy, high levels of corruption, a private sector that is only marginal and continuing insecurity. Nonetheless, Iraq presents a large potential for Canadian companies looking for new opportunities in the Middle East.
Important points to know about Iraq
- The Iraqi economy depends 90% on oil export earnings, in addition of being dependent on imports to cover its needs for several products
- There is a high degree of interest for foreign investment in Iraq to help the economic recovery following the conflict against Daesh and the decrease in oil prices amid the COVID-19 pandemic.
Trade and investment between Iraq and Canada
Canadian exports to Iraq: $146,680,440
Canadian imports from Iraq: $415,528
FDI in Canada (2018): $ million
CDI in the country (2018): $22 million
Source: Statistics Canada
Sectors
- Agriculture and processed foods
- Oil and gas
- Infrastructure
- Education
- Life sciences
Contact a trade commissioner
Get help with export advice and guidance to help you achieve your international business goals. Our trade commissioners can provide you with key business insights and access to an unbeatable network of international contacts.
Contact our team – Embassy of Canada in Iraq
Related links
Country facts – Iraq
General information about Iraq prepared by the Iraqi National Investment Commission.
Ministry of Trade - Iraq
Get information on Iraq’s trade and investment policies.
