Positioned as a nation with a steadily increasing population, Iraq generates substantial demand for food. As such, the country’s food import and export sector carries noteworthy weight in the economic landscape.

Vital Statistics

Iraq’s food import and export sector is characterised by the following key figures:

• Food Imports: Iraq’s food imports are valued at $5 billion.
• Food Exports: The country’s food exports are appraised at $1 billion.
• Leading Food Imports: Iraq chiefly imports wheat, rice, sugar, vegetables, and fruits.
• Principal Food Exports: Dates, olive oil, and meat stand out as Iraq’s main food exports.

Note: These figures may vary due to the dynamic nature of the food import and export sector in Iraq.

Why Set Sights on Iraq’s Food Import and Export Sector?

Foreign investors are strongly urged to contemplate investing in Iraq’s food import and export sector, driven by several persuasive reasons:

1. Expansive and Evolving Market: Iraq’s burgeoning population underscores an escalating demand for food. Anticipated to surge by 20% over the next ten years, this growth is set to further propel the demand for food.
2. Government Backing: The Iraqi government is wholeheartedly dedicated to fostering the food import and export sector. In a bid to draw foreign investment, it has enacted a series of laws and presents favourable terms to overseas investors.
3. Investment Avenues: Iraq’s food import and export sector presents diverse investment opportunities. These encompass importing and exporting food products, investing in food processing plants, and establishing cold storage facilities.

Conclusion: Iraq’s Food Import and Export Sector – A Tasty Investment Proposition

Iraq’s food import and export sector presents a ripe opportunity, teeming with potential for foreign investors. With the government’s commitment to develop the sector, and a variety of investment options available, the food import and export sector certainly promises a lucrative venture.

Connect with Us

If you’re keen to explore more about the prospects of investing in Iraq’s food import and export sector, do get in touch with us today. We’d be delighted to discuss your investment ambitions and how we can assist you in ensuring a successful investment experience.

Make Your Move

The food import and export sector in Iraq is rapidly flourishing and evolving. By making the right investments, foreign investors can play a decisive role in shaping this industry’s future. Don’t hesitate to contact us today to find out how you can make a difference.

References

1. The World Bank, “Iraq Economic Update, September 2022”
2. The Economist Intelligence Unit, “Iraq: Food Import and Export Sector Report, 2022”
3. The United Nations Food and Agriculture Organization (FAO), “Iraq: Country Profile, 2022”

Please note that the above data may change, as the food import and export sector in Iraq is in a state of constant flux. Nonetheless, these figures serve to provide a broad outlook on the sector’s size and growth potential.