IMF: Iraq Is The Fifth Largest Arab Economy
Economy | 03/08/2025 Mawazine News – Baghdad Data released by the International Monetary Fund (IMF) on Sunday showed that Iraq ranked fifth among the largest Arab economies in 2025 in terms of nominal GDP, with a total of $259.02 billion.
According to the ranking, Saudi Arabia topped the list with a GDP of $1.083 trillion, followed by the UAE in second place with $548.6 billion, Egypt in third place with $347.59 billion, and Algeria in fourth place with $268.88 billion, ahead of Iraq, which came in fifth.
The other rankings were as follows:
Qatar: $222.78 billion (sixth)
Morocco: $165.84 billion (seventh)
Kuwait: $153.1 billion (eighth)
Oman: $103.35 billion (ninth)
Tunisia: $96.29 billion (tenth)
These data reflect a clear disparity in the sizes of Arab economies, with Gulf countries dominating the top ranks thanks to their oil resources and significant investments, while North African countries occupy intermediate and varying positions based on demographic factors and different economic structures.
The Iraqi economy continues to maintain its position among the five largest Arab economies, despite the political, security, and service-related challenges it faces, relying primarily on its oil exports and strategic geographic location.
Observers believe that stable oil prices and the government’s drive to diversify sources of income and revitalize the agriculture, industry, and services sectors may provide Iraq with a real opportunity to strengthen its economic position in the coming years.
https://www.mawazin.net/Details.aspx?jimare=264554
OPEC: Iraq’s Production To Rise To 4.22 Million Barrels In September
Time: 2025/08/03 14:50:04 Reading: 450 times {Economic: Al Furat News} OPEC+ announced on Sunday that eight of its member countries will raise their oil production ceiling by 547,000 barrels per day in September, thus ending their voluntary production cuts of 2.2 million barrels per day.
This decision comes as part of a gradual return to the voluntary cuts that have been in place since 2023. With the current compensation plans, the total production ceiling for the eight countries will increase by 528,000 barrels per day.
As a result, Russian oil production is set to rise to 9.449 million barrels per day in September, while Saudi production will increase to 9.976 million barrels per day. These figures do not include countries’ compensation plans for previous overproduction.
In addition, the production ceiling will be raised for other members:
– Iraq: 4.22 million barrels per day.
-Kazakhstan: 1.55 million barrels per day.
The next meeting of the eight OPEC+ countries to discuss oil production quotas is scheduled for September 7. LINK
Within A Week, Iraq’s Oil Exports To The US Declined.
Economy | 03/08/2025 Mawazine News – Follow-up The US Energy Information Administration announced, on Sunday, a decline in Iraqi oil exports to the United States during the past week.
The administration said in its statistics, “The average US imports of crude oil during the past week from nine major countries amounted to 5.368 million barrels per day, an increase of 17,000 barrels per day compared to the previous week, which averaged 5.351 million barrels per day.”
It added that “Iraqi oil exports to the United States amounted to an average of 214,000 barrels, a decrease of 59,000 barrels per day compared to the previous week, which averaged 273,000 barrels per day.”]
The administration also indicated that “the largest oil revenues to the United States during the past week came from Canada, at an average of 4.089 million barrels per day, followed by Nigeria with an average of 250,000 barrels per day, from Saudi Arabia with an average of 223,000 barrels per day, and from Mexico with an average of 172,000 barrels per day.”
According to the table, “US crude oil imports from Colombia averaged 165,000 barrels per day, from Ecuador 98,000 barrels per day, from Libya 87,000 barrels per day, and from Brazil 70,000 barrels per day, while no imports were made from Venezuela.” https://www.mawazin.net/Details.aspx?jimare=264531
For Several Days The Exchange Rate In Baghdad Has Been Stable.
Economy | 03/08/2025 Mawazine News – Baghdad – The exchange rate of the dollar against the dinar witnessed stability in the Iraqi local markets on Sunday.
The selling price reached 140,500 dinars for $100, while the buying price reached 138,500 dinars for $100. https://www.mawazin.net/Details.aspx?jimare=264541
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