Iraq is bounded on the east by Iran, on the north by Turkey, on the west by Syria and Jordan, and on the south by Saudi Arabia and Kuwait. Most Iraqis speak Arabic, although Kurdish is also used especially in the northern part of the country.
The country has arid desert land west of the Euphrates, a broad and fertile central valley between the Euphrates and the Tigris, and mountains in the northeast.
Two-thirds of the Iraqi economy is powered by oil production. Various estimates indicate that Iraq has approximately 141 billion barrels of oil that is one of the largest reserve in the world. Existing oil fields are widely dispersed with fields in the South of the country currently producing the highest output.
Iraq has significant gas reserves, usually found in conjunction with oil. Significant gas reserves remain untapped. These gas reserves could either be exported or used to provide a significant and sustainable energy source for electricity production, which in turn could drive new domestic manufacturing industry.
Apart from petroleum and natural gas, Iraq’s other natural resources include natural gas, phosphates and sulphur.
Agriculture has historically been of great economic importance for Iraq. Livestock including cattle, sheep, goats and poultry are important industries with training in farm management, animal husbandry and pasture improvement. Government of Iraq is currently focused on modernization of the agriculture sector as a crucial step forward in developing a diversified economy.
Iran is a founding member of the UN, OPEC and Arab League.
|Land (1000 sq. km)||438 (2011)|
|Head of State||President HE Fuad Masum|
|Population (million inhabitants)||33.2|
|National currency||Iraqi dinar|
|Energy sources||Petroleum, Natural Gas, Phosphates and Sulphur|
|GDP per capita (current US$)||5,435|
|GDP (current billion US$)||180.6|
|GDP growth %||8.6|
|Value of exports (billion $)||83.01|
|Value of oil exports (billion $)||82.99|
|Value of gas exports (billion $)||n/a|
|Current account balance (BoP, billion $)||26.365|
|Proven crude oil reserves (billion barrels)||141.35|
|Crude oil production, NGPL and other||2,653|
|liquids (1,000 b/d)|
|Refinery capacity (1,000 b/d)||800 Design, 565 Actual|
|Production of refined petroleum||551|
|products (1,000 b/d)|
|Consumption of petroleum products (1,000 b/d)||512|
|Crude oil exports (1,000 b/d)||2,166|
|Exports of refined petroleum products (1,000 b/d)||1.1|
|Proven natural gas reserves (trillion cu. m.)||3.158(2011)|
|Natural gas exports (billion cu. m.)||n/a|
|Domestic Dry Natural gas consumption||7.384|
|(billion cu. m.)|
|Marketed production of natural gas (billion cu. m.)||0|