The Iraqi Ministry of Trade announced on Tuesday that Iraq ranks fourth among Arab nations in terms of economic size for 2025. The ministry also noted that trade volume with 11 countries reached $65 billion in the first half of 2024, marking a 10% increase compared to the same period in 2023.

Growing Trade and Economic Presence

Ministry spokesman Mohammed Hanoun stated that Iraq plays a significant economic role in the region, showing remarkable growth in trade with Arab nations while working to strengthen its regional and international economic standing.

- Trade between Iraq and Saudi Arabia reached $1.3 billion in 2024, reflecting a substantial increase compared to previous years.

- Trade with Jordan exceeded $1 billion annually, rising by 45.6% in 2024.

- The United Arab Emirates exported $22 billion worth of goods to Iraq in 2024.

According to a report by CEOWORLD magazine, Iraq is ranked 51st globally and fourth in the Arab world among the largest economies of 2025.

Major Development Projects

Hanoun also highlighted Iraq's strategic economic expansion, including the $17 billion "Development Road" project, which aims to position Iraq as a regional transportation hub by connecting southern regions to the Turkish border in the north. This initiative is designed to boost Iraq’s role as an economic center in the region.

Commitment to Regional Economic Integration

Iraq’s hosting of the Arab Summit reflects its commitment to leading efforts for Arab economic integration and development. The country has called for the formation of an Arab economic bloc, leveraging human and geographical resources to enhance economic cooperation, create jobs, and promote social equity.

As part of its economic vision, Iraq aims to focus on food security, sustainable development, and a unified Arab strategy for food security, while supporting initiatives in artificial intelligence, energy, water, and education to drive regional development.

New Economic Coordination Mechanisms

In previous meetings, including the preparatory session of the Arab Development Economic and Social Summit held in Baghdad, Iraq proposed the establishment of an Arab Council of Trade Ministers under the Arab League umbrella to coordinate and integrate trade policies among member states.