US-Iraq Trade Falls 8% in 2024 to $12bn

By John Lee.

The Office of the United States Trade Representative (USTR) has reported that U.S. goods and services trade with Iraq totalled an estimated $12.0 billion [IQD 15.7 trillion] in 2024, down 8.1 percent ($1.0 billion) [IQD 1.3 trillion] from 2023.

• Total U.S.-Iraq Trade (2024)
  • Goods and services trade: $12.0 billion
  • Change from 2023: down 8.1% ($1.0 billion)
• Goods Trade (2024)
  • Total goods trade: $9.2 billion
  • Goods exports: $1.7 billion (down 25.9% / $583.9 million from 2023)
  • Goods imports: $7.5 billion (down 10.8% / $909.1 million from 2023)
  • Goods trade deficit: $5.9 billion (down 5.2% / $325.2 million from 2023)
• Services Trade (2024)
  • Total services trade: $2.8 billion
  • Services exports: $2.2 billion (up 23.9% / $432 million from 2023)
  • Services imports: $532 million (up 2.1% / $11 million from 2023)
  • Services trade surplus: $1.7 billion (up 32.7% / $420 million from 2023)

(Source: USTR)