The export business has always remained lucky in Iraq. Iraq has very huge oil reserves that are enough for getting out Iraq from the financial crises. Every year Iraq exporting oil to many countries. There are also many other things that Iraq is exporting. Iraq’s main exports include food, different kinds of medicines, and a lot of other manufactures. Oil has alone made huge revenue for the country. Almost 85% export relies on oil. The main partners, which are the partners of Iraq in export include China, Turkey, Syria, United States, and Korea. They together export their products to China, Italy, India, Korea, Spain, and Canada. The export is recorded 88 billion in the year 2012.
The rate of unemployment has dropped very much. Many people are getting new jobs in Iraq. Iraq has planned many vacancies in the last years. This is why experts say the condition of the economy is getting stable. Local industries have developed which have not only contributed to production they have also created employments for various people. Now the rate of unemployment is 16% which was at more than 60% in the year 2003.
Many countries have started trusting Iraq once again. Different regions have started sharing production with Iraq. They include UK, US, Europe, Russia, and Asia. Iraq’s labor force is also very strong. According to an estimate, there are more than 6.5 millions people working in Iraq and this number is ever increasing. Iraq is going fast towards the regular life that it used to enjoy before the 60’s. The days are not far when the economy will get even stronger and currency value will once again compete in international market. The investors who have recently jumped into the trade of dinar should be happy about the progress. The time of making big profits is not far.
