kurdistan's economy

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Economic Overview

The Kurdistan Region has a burgeoning economy built upon progressive economic policies and growing government transparency. Investment opportunities span every sector, including oil and gas, electricity, agricultural and the service industries.

Since the liberation of Iraq from the rule of Saddam Hussein, the Kurdistan Region has undergone great economic growth as international sanctions were lifted, including UN-imposed international sanctions on Iraq and Iraqi sanctions on the Kurdistan Region. With an abundant amount of proven natural resources and a tremendous labor force, the Kurdistan Region has the potential to become a regional economic powerhouse.

The Kurdistan Regional Government has been taking steps to facilitate opportunities, and has passed laws and regulations and promotes foreign venture by providing numerous incentives and legal guarantees to protect investment in the Kurdistan region.

Budget
MOF

$9.6 billion (2010) est.
Regions comparison to the world: 96

GDP: Real growth rates

4.3% (2009) est.
Regions comparison to the world: 35
1.5% (2008) est.

GDP - per capita (PPP)

MOF

$4,500(2009) est.
Country comparison to the world: 117
$3,500 (2008) est.
$3,200 (2007) est.
Note: data are in (2009) US dollars

GDP -
Composition by sector

Univeristy of  Salahadin

Agriculture: 6.8%
Industry: 22%
Services: 1.4 %
Housing: 20.6%
Tourism: 19.3%
Trade: 14.5%


ALL INVEST in the future

Agricultural Products

Wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry

Industries

Petroleum, chemicals, textiles, leather, construction materials, food processing, fertilizer, metal fabrication/processing

Electricity Production

220V

Oil Production

100,000 bl/day (2009) est.
Country comparison to the world: 51

Oil - Proved Reserves

45 billion bbl 1 January (2009) est.
Country comparison to the world: 9

Natural Gas - Production

1.88 billion cu m (2008) est.
Country comparison to the world: 58

Natural Gas - Proved reserves

3 trillion cu m 1 January (2009) est.
Country comparison to the world: 11

Export - Commodities

Crude oil 84%, crude materials excluding fuels, food and live animals

Imports - Commodities

Food, medicine, manufactures

Partners

Syria, Lebanon, Turkey, US, Jordan, China, UAE

Exchange Rates
Currency XE

Iraqi dinars (IQD) per US dollar - 1,194 2010, 1,117 (2009), 1,255 (2007), 1,466 (2006), 1,475 (2005)


Communications

Telephones - Mobile Cellular

2 million (2009)

Radio Broadcasting Stations

55 (station frequency types NA) (2009)

Television Broadcasting Stations

11 (2009)

Internet Country Code

.iq

Internet Users

250,000 (2008)

Airports

2 (2009)
Erbil International Airport
As Sulaymaniah International Airport