Iraq-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $5.09B total volume •Iraq surplus: $3.15B
Iraq → Italy
$4.12B
Exports (2023)
Italy → Iraq
$973.16M
Imports (2023)
Trade Balance
$3.15B
Surplus for Iraq
Total Trade
$5.09B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Iraq and Italy. Green line shows exports from Iraq, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Iraq-Italy commercial relationship and competitive positioning in global markets.
Iraq → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Iraq's export portfolio to Italy demonstrates strategic specialization, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
Italy → Iraq Imports
Import Dependency Profile
📦 Import Strategy Analysis
Iraq's import pattern from Italy reveals significant dependencyin pumps and compressors: parts, of air or vacuum pumps, air or other gas compressors and fans, ventilating or recycling hoods incorporating a fan, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Iraq demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $5.09B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Iraq-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $5.09 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Iraq maintains a surplus of $3.15 billion
- Export Focus: Iraq's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, petroleum bitumen: obtained from bituminous minerals
- Import Dependencies: Key imports from Italy include pumps and compressors: parts, of air or vacuum pumps, air or other gas compressors and fans, ventilating or recycling hoods incorporating a fan, taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves, iron or steel (excluding cast iron or stainless steel): seamless, casing and tubing, of a kind used in drilling for oil or gas
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $5.09B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Iraq leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Iraq's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in pumps and compressors: parts, of air or vacuum pumps, air or other gas compressors and fans, ventilating or recycling hoods incorporating a fan.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $5.09B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $5.09B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $5.09 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and pumps and compressors: parts, of air or vacuum pumps, air or other gas compressors and fans, ventilating or recycling hoods incorporating a fan demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Iraq's trade surplus of $3.15 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Iraq and Italy represents a total trade volume of $5.09 billion in 2023. This partnership demonstrates a favorable trade balance for Iraq, with exports exceeding importsby $3.15 billion.
Export Strengths
Iraq's exports to Italy total $4.12 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $3.72B or90.3% of bilateral exports.
Import Dependencies
Imports from Italy amount to $973.16 million, highlighting economic interdependence in pumps and compressors: parts, of air or vacuum pumps, air or other gas compressors and fans, ventilating or recycling hoods incorporating a fan, with Pumps and compressors: parts, of air or vacuum pumps, air or other gas compressors and fans, ventilating or recycling hoods incorporating a fan comprising11.4% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Iraq's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Iraq and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023