The Iraq Economy: A High Level Overview Info Graphic
With the oil prices dipping alarmingly at international markets, many economic pundits prophesied the decline of the Iraq economy, an economy primarily based on oil revenues. The Iraqi people have faced quite a few political hurdles too, including numerous wars, the U.S. invasion and most recently the insurgency of the Islamic State militants. On each occasion, however, the Iraq economy has risen up strong from the debris of the disaster, and marched ahead after the brief setback. The resilience of the Iraq economy has time and again surprised the trade experts and the common citizen alike.
The reason Iraq economy was able to turn around fast every time is the fact that its economy has diversified significantly. The Crude Oil trade is still the major contributor to the economy, but sectors like real estate, construction, healthcare, and agriculture has registered noticeable growth over the years. Foreign direct investments have steadily flowed in to Iraq, providing the Iraq economy the requisite impetus. As far as the oil industry is concerned, Iraq has registered record amount of oil production in the first and second quarter of 2015, with no signs of slowing down in the coming months.
This infographic takes you around the various economic sectors of Iraq, and speaks of their stories in numbers. It gives the full idea on the current position of the Iraq Economy with numerical data that points to the stability and resilience of the Iraq Economy, unlike many other third world countries.
You can learn more about the fascinating story of the Iraq Economy below: