Demographic and SocioEconomy

Location

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Strategic geopresence in the Middle East locked between Turkey, Iran, Kuwait/Persian Gulf, Saudi Arabia, Jordan and Syria (33 00 N 44 00 E).

AreaLand 437, 317 sq km.Water 950 sq km.

Environment

Thirteen per cent of the land is arable. Once the largest irrigation system in the Middle East, with 35,250 sq m of land irrigated using Dijlah and Furat cross-country rivers, years of neglect have caused low supply of potable water, desertification, salination, erosion and air and water pollution.

Administration

Eighteen provinces or ‘governorates’ administered by elected councils and regulated by 36 cabinet ministers. Ministers report to the prime minister who reports to the president.

Legal system

Based on European civil and Islamic laws under the framework outlined in the constitution promulgated in October 2005.

Population

28,945,657 – June 2009 est. 41st in the world.

Baghdad 6,325,000 – 45% of the populace lives in top 10 cities.Erbil 1,400,000 – 51% male, 49% female.Mosul 1,200,000 – 60% under 30 years of age.Sulemaniyah 1,100,000 – 39% aged between one and 14.Basrah 1,000,000 – median age is 20.5 years.Kirkuk 850,000 – population growth rate is 2.5% a year.Najaf 750,000 – 80% Arabs, 15% Kurds, 5% others.Karbala 650,000 – 97% Muslim – 60% Shia, 40% Sunni.

Nasiriyah

 500,000 – languages are Arabic, Kurdish and Turkish.

Ramadi

300,000 – literacy is 74%.

Natural resources

Oil and natural gas, phosphate, sulphur, rivers.

Agricultural produce

Crops (wheat, barley, rice, cotton), dates, fruits, vegetables, livestock, poultry.

Industries

Petroleum, chemicals, fertiliser, plastics, textiles, leather, pharmaceuticals, cement, metal fabrication, agricultural produce, food processing, livestock, fisheries, poultry, tourism, telecommunications.

ECONOMIC INDICATORS

GDP nominal

$104bn – June 2008 est. 66th in the world.

Forecast

$118bn in 2010

$136bn in 2011

$167bn in 2012

GDP growth

5% in 2009

Forecast 6% to 7% between 2010 and 2012

GDP per capita (nominal)

$3400 in 2009

Forecast

To exceed $5200 in 2012

GDP components

Oil and gas 70%

Services 25%

Agricultural 5%

Industrial production growth

10% forecasted for 2010 to 2012

Oil production

2.4 million bbl/day in 2008, 13th in the world

Forecast

3 million bbl/day in 2012

Oil consumption

295,000 bbl/day.

Oil exports

1.8 million bbl/day

Oil-related imports

104,300 bbl/day

Oil – proved reserves

112.5 billion bbl, third largest in the world after Saudi Arabia and Iran. If under-exploration and obsolete data are technically updated, Iraq’s reserves could be number one in the world.

Natural gas reserves

3170 billion m3; 10th largest in the world

Oil and gas – 10-year forecast

Oil production is forecasted to increase by 86.5%, with crude volumes rising to 4 million b/d by the end of 2018. Oil consumption over the next 10 years is set to increase by 111%, with growth slowing to 5% per annum by 2018 and the country using 1.31 million b/d by 2018. Gas production is expected to climb to 35 bcm by 2018. With 10-year demand growth of 166%, the export potential of gas is expected to rise to 24.4 bcm by 2018.

Inflation

7%

Labour force

7.75 million, est. 2008

Unemployment

18%, est. to remain at 18% between 2010 and 2012

FINANCIAL INDICATORS

Exports

$28.2bn (crude oil 84%)

Forecast

$55bn in 2012

US 43%, Italy 11%, South Korea 7%, Canada 5%, France 4%

Imports

$22.1bn (food, basic supplies, machinery)

Forecast

$28bn in 2012

Syria 28%, Turkey 21%, US 11%, China 7%, Jordan 5%

Trade balance

$6.1bn

Forecast

$27bn in 2012

Current account

$1bn

Forecast

$21bn in 2012

Foreign debt

$33bn

Forecast

$35bn in 2012

FX and gold reserves

$50bn

Forecast

$79bn in 2012

Imports cover

1175 ID = $1

(1890 in mid-2003, US invasion)

Exchange rate

21 months

Forecast

27 months in 2012

Source: Dijlah & Furat Bank

The cost of this supplement was underwritten by the United States government. Reporting and editing were carried out independently by fDi Magazine.