India-Iraq Trade 2026: The Definitive Outlook
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$33.1 b
Bilateral Trade Value
Petroleum crude oil
Top Traded Products
SAFTA
Active Trade Agreements
~17.07%
Annual Growth Rate
India-Iraq Trade Intelligence: Market Data & Insights
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Executive Summary:
India-Iraq trade exhibits a strong 17.07% growth trajectory, with total trade volume reaching $33.1 billion in 2024. The market is primarily driven by India's energy requirements, with Petroleum crude oil ($28.1B) acting as the cornerstone of bilateral commerce. While India maintains a substantial trade deficit, its exports have more than doubled since 2020, rising to $3.26 billion. The market peaked in 2022 due to global pricing trends, but remains a critical energy corridor. Strategic opportunities exist in diversifying exports beyond petroleum-related products into agricultural and industrial sectors.
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Complete 5-Year Trade Overview
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Total trade peaked in 2022 at over $41.2 billion. While there has been a moderate stabilization in 2023 and 2024, the overall market has seen significant expansion since 2020, when trade volume was only $17.6 billion. This represents a substantial long-term increase in bilateral economic activity.
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Access Market IntelligenceImport & Export Breakdown
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The trade balance is heavily weighted toward imports, which reached a high of $38.7 billion in 2022. Notably, exports have shown a consistent upward trajectory, growing from $1.45 billion in 2020 to over $3.26 billion in 2024, reflecting a strengthening export sector despite the overall trade deficit.
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Visualize Trade FlowsWhat India Buys from Iraq
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The bilateral trade relationship demonstrates a robust growth rate of 17.07%. This double-digit growth indicates a strong and resilient economic partnership, driven by consistent demand and expanding market opportunities between the two nations over the five-year period.
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Uncover Growth NichesWhat Iraq Buys from India
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No data available for this specific product category. The current dataset does not contain specific records for the requested import metrics, which may suggest that trade in these categories is either negligible or not classified within the provided parameters.
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Trade is dominated by energy commodities, with Petroleum crude oil leading at $28.1 billion in 2024. Other significant products include petroleum ether ($914 million) and bitumen ($556 million). Non-petroleum goods like Dates ($83 million) and soybean oil ($61 million) also represent key components of the trade mix.
India-Iraq Trade Regulations Explained
List of Trade requirements for India
Before Shipment
Documentation Required
List of Trade requirements for Iraq
Before Shipment
Documentation Required
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View Compliance ChecklistIndia-Iraq FTA Opportunities
Don’t let complex trade agreements eat into your profits. Navigate India-Iraq FTAs with ease, confirm your eligibility, and ensure you’re paying the lowest possible duty rates.
Check FTA Eligibility- SAFTA
- India-UAE CEPA
- India-ASEAN AITIGA
- Greater Arab Free Trade Area (GAFTA)
- India-Korea CEPA
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