Iraq exports more than $7 billion annually to the United States.
The US Bureau of Commerce revealed that Iraqi exports to the United States amounted to more than $7 billion annually.
The office stated in statistics reviewed by Shafaq News Agency that “the value of Iraqi exports of goods to the United States amounts to an average of 7 billion and 420 million dollars annually,” noting that “the United States imposed a customs tariff on Iraq amounting to 39%.”
She added that “the share of Iraqi goods in total US imports from countries around the world is equal to 0.22%,” noting that “the value of the trade balance is equal to $5.70 billion.”
The trade balance is the difference between the value of goods a country exports and the value of goods it imports. If exports exceed imports, the country has a trade surplus and the trade balance is said to be positive.
Advisor to the Prime Minister for Financial Affairs: 95 trillion dinars are outside banks.
The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, stated on Saturday that expanding the use of digital payment systems and e-commerce opens the way for providing low-cost loans to citizens and contributes to reducing reliance on dangerous and illegal parallel markets. Saleh stated in a statement that “the positive steps in activating e-commerce are in line with the government and the Central Bank’s goals to integrate hoarded funds in households, known as cash leakages, into the formal banking system, which strengthens the national economy and contributes to achieving financial stability.”
He also pointed out that “the Monetary Authority has previously developed controls and procedures to regulate the issuance of e-commerce licenses, in a move aimed at regulating the market and enhancing consumer confidence.” He emphasized that “digital transformation projects, most notably the instant payments project, local cards, and unified payment gateways, represent an integrated strategy to enhance financial inclusion and facilitate banking transactions.”
Saleh continued, “Integrating these measures with information technology is in line with the digital renaissance the country is witnessing and contributes to changing society’s financial culture, especially in light of the ongoing phenomenon of hoarding money in homes, which is one of Iraq’s most prominent economic challenges.”
He explained that “estimates indicate that approximately 87% of the money supply, equivalent to 95 trillion dinars out of a total of 109 trillion, is still held outside the banking system, meaning a significant portion of the nation’s wealth is prevented from participating in the economic cycle.”
He also explained that “increasing reliance on digital payment systems and e-commerce enables official banks to expand their lending capacity at lower costs and greater efficiency, thanks to lower interest rates compared to those charged in the parallel market.”
Saleh warned, however, that “the parallel market for usurers represents a high-risk environment, not subject to any legal regulation, and imposing very high interest rates. Furthermore, some of its activities conflict with anti-money laundering laws due to a lack of transparency and governance, which increases trading and recovery risks.”
Prime Minister: Iraq’s interest comes first, and its future cannot be mortgaged to oil alone.
Iraqi Prime Minister Mohammed Shia al-Sudani stressed that there were hasty voices trying to drag Iraq into war, stressing that the interests of Iraq and Iraqis are the government’s priority in its work. He added that Iraq cannot remain hostage to oil alone, especially since it has other important components such as agriculture, industry and tourism. The Prime Minister’s media office said in a statement that al-Sudani met with a group of tribal sheikhs and dignitaries from various components in Baghdad, where he congratulated those present on the occasion of Eid al-Fitr, extending his thanks to Hajj Rahim Majiser al-Baydani for the invitation, emphasizing the social and humanitarian role played by al-Baydani in supporting the security forces and displaced persons during the war on terrorism.
Speaking about the role of tribes, Al-Sudani noted that tribes have consistently supported the state’s progress since its founding. He recalled their sacrifices at various historical junctures, including their active participation in the 1920 Revolution and in the collective jihad against terrorism, where all tribesmen rallied to confront the challenges facing the country.
The Prime Minister also highlighted the importance of the reference made by the supreme religious authority regarding the cultural and intellectual heritage of Iraqis, saying that Iraq, with its civilization and resources, is capable of facing various challenges. He emphasized that the authority’s talk about Iraq’s recovery is a reassuring message to those who seek to spread anxiety and defeatism in society.
Al-Sudani continued, saying that Iraq today is strong, capable, healthy, and progressing, as evidenced by the unprecedented reconstruction and development from Basra to Nineveh. He explained that the government is working according to basic priorities that focus on the needs of the people, far removed from personal or partisan objectives.
Regarding the economy, Al-Sudani emphasized that the country’s future cannot be mortgaged solely to oil. He noted that Iraq possesses significant potential in agriculture, industry, and tourism, explaining that Iraq’s geographic location as a global trade corridor constitutes a strategic advantage, which is why the “Development Road” project was launched.
He added that the government is working to implement important reforms and has achieved remarkable progress in this area over the past two and a half years.
In concluding his remarks, Mr. Al-Sudani addressed regional and international positions, noting that the Iraqi government faced significant challenges amid the exceptional circumstances facing the region, while maintaining Iraq’s principled position on the Palestinian issue. He emphasized that the continued aggression against the Palestinians demonstrates the international community’s failure to address the issue.
Al-Sudani: Iraq is witnessing an unprecedented phase of reconstruction and development.
Prime Minister Mohammed Shia al-Sudani said on Friday, April 4, 2025, that: “Iraq is witnessing an unprecedented phase of reconstruction and development.”
During his meeting today with a group of tribal sheikhs and dignitaries from various communities at the guest house of Hajj Rahim Majisar al-Baydani in Baghdad, Al-Sudani affirmed that “the tribes have always been with the state since its founding, beginning with the 1920 Revolution, and their contributions and sacrifices have continued effectively at various stages and times.”
The Prime Minister pointed to “the role of the tribes and their honorable stance in responding to the religious authority’s call for sufficient jihad, the call of the nation, as all members of the tribes that bear the Iraqi color lined up in the trench of confrontation against terrorism. This stance came at a time when it was rumored that Iraq had ended as a state, only for the country to return safe and unified.”
Al-Sudani stressed that “the supreme religious authority’s indication that Iraqis have a cultural and intellectual heritage that they must study, understand, and rely on is a fitting indication, and that our country, with its culture and resources, is capable of facing various challenges.” He emphasized that “her talk about Iraq’s recovery and being on the right path is a reassuring message to some alarmists who paint a picture of anxiety, panic, and defeatism among society.”
He explained, “What we enjoy today is thanks to the sacrifices and honorable stances of the tribes, which we cannot forget. Iraq is strong, capable, healthy, and progressing, as attested to by all regional and international institutions.” He indicated that “Iraq has an important pioneering role, and the reconstruction and development it is witnessing, from Basra to Nineveh, is an unprecedented phase.”
He continued, “From the outset, the government has worked on priorities based on the needs of the people, far removed from any personal or partisan objectives. We cannot mortgage the country’s future solely to oil, especially since Iraq possesses the potential for agriculture, industry, and tourism.”
Al-Sudani stated, “Our country is distinguished by its geographical location as a global trade corridor. That’s why we launched the Development Road project, and we are working day and night to achieve our commitment. We have the capabilities, resources, and determination to face various challenges.”
He pointed out that “work is continuing on a project to transport gas to our power stations, and there is a genuine will to implement reforms, and we have made significant progress in this regard, in a timeframe not exceeding two and a half years of the government’s term.”
He continued, “The region has witnessed exceptional circumstances, and the government’s greatest test was how to handle this crisis, given Iraq’s principled position on the Palestinian issue. The continued Zionist aggression against the Palestinians has demonstrated the failure of the international community.”
He explained, “We were able to preserve Iraq by acting wisely and responsibly to avoid slipping into the arena of war and conflict. Some emotional and hasty voices wanted Iraq to go to war and conflict.”
The Prime Minister stressed that “the interests of Iraq and Iraqis are the government’s top priority, and there is no room for favoritism toward any internal or external party.” He explained that “the government’s approach is to preserve the supreme interests of the state, and we have full hope that the clerics, tribal sheikhs, and elites will promote a discourse of unity, solidarity, and brotherhood among all members of society.”
He continued, “There are those who thrive on the rhetoric of sedition, crisis, and conspiracies, and we must pay attention to this matter, especially with the upcoming elections. We are confident that Iraq’s future is promising, thanks to its people, capabilities, resources, and sound principles for governing the state.”
