Iraq-United Kingdom Bilateral Trade Analysis 2023
Complete trade statistics: $550.51M total volume •Iraq deficit: $550.51M
Iraq → United Kingdom
$0
Exports (2023)
United Kingdom → Iraq
$550.51M
Imports (2023)
Trade Balance
$550.51M
Deficit for Iraq
Total Trade
$550.51M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Iraq and United Kingdom. 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-United Kingdom commercial relationship and competitive positioning in global markets.
Iraq → United Kingdom Exports
Export Market Intelligence
🎯 Strategic Export Focus
Iraq's export portfolio to United Kingdom demonstrates strategic specialization, with petroleum bitumen: obtained from bituminous minerals representing a key competitive advantage in this bilateral market.
United Kingdom → Iraq Imports
Import Dependency Profile
📦 Import Strategy Analysis
Iraq's import pattern from United Kingdom reveals significant dependencyin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Iraq demonstrates competitive strength in exportingpetroleum bitumen: obtained from bituminous minerals to United Kingdom, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $550.51M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Iraq-United Kingdom Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $550.51 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Iraq maintains a deficit of $550.51 million
- Export Focus: Iraq's primary exports include petroleum bitumen: obtained from bituminous minerals, oils and other products of the distillation of high temperature coal tar: n.e.c. in heading no. 2707, sugars: molasses, from sugar cane, resulting from the extraction or refining of sugar
- Import Dependencies: Key imports from United Kingdom include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, whiskies, blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale
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 $550.51M 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 petroleum bitumen: obtained from bituminous minerals.
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 petroleum bitumen: obtained from bituminous mineralscomplements United Kingdom's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $550.51M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $550.51M 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 $550.51 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum bitumen: obtained from bituminous minerals and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Iraq's trade deficit of $550.51 million impacts 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 United Kingdom represents a total trade volume of $550.51 million in 2023. This partnership demonstrates an unfavorable trade balance for Iraq, with imports exceeding exportsby $550.51 million.
Export Strengths
Iraq's exports to United Kingdom total $0.00, with competitive advantages in petroleum bitumen: obtained from bituminous minerals, representing $9.58M orInfinity% of bilateral exports.
Import Dependencies
Imports from United Kingdom amount to $550.51 million, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising10.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Iraq's strategic sourcing from United Kingdom. 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 United Kingdom in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023