International organization participation:
ABEDA, ACC, AFESD, AL, AMF, CAEU, EAPC, ESCWA, FAO, G-19, G-77,
IAEA, IBRD, ICAO, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO,
Interpol, IOC, ISO, ITU, NAM, OAPEC, OIC, OPEC, PCA, UN, UNCTAD,
UNESCO, UNIDO, UPU, WCO, WFTU, WHO, WIPO, WMO, WToO
Diplomatic representation in the US:
in transition following April 2003 defeat of SADDAM Husayn regime
by US-led coalition
Diplomatic representation from the US:
in transition following April 2003 defeat of SADDAM Husayn regime
by US-led coalition
Flag description:
three equal horizontal bands of red (top), white, and black with
three green five-pointed stars in a horizontal line centered in the
white band; the phrase ALLAHU AKBAR (God is Great) in green Arabic
script - Allahu to the right of the middle star and Akbar to the
left of the middle star - was added in January 1991 during the
Persian Gulf crisis; similar to the flag of Syria which has two
stars but no script and the flag of Yemen, which has a plain white
band; also similar to the flag of Egypt which has a symbolic eagle
centered in the white band
Economy Iraq
Economy - overview:
Iraq's economy is dominated by the oil sector, which has
traditionally provided about 95% of foreign exchange earnings. In
the 1980s financial problems caused by massive expenditures in the
eight-year war with Iran and damage to oil export facilities by Iran
led the government to implement austerity measures, borrow heavily,
and later reschedule foreign debt payments; Iraq suffered economic
losses from the war of at least $100 billion. After hostilities
ended in 1988, oil exports gradually increased with the construction
of new pipelines and restoration of damaged facilities. Iraq's
seizure of Kuwait in August 1990, subsequent international economic
sanctions, and damage from military action by an international
coalition beginning in January 1991 drastically reduced economic
activity. Although government policies supporting large military and
internal security forces and allocating resources to key supporters
of the regime have hurt the economy, implementation of the UN's
oil-for-food program beginning in December 1996 helped improve
conditions for the average Iraqi citizen. Iraq was allowed to export
limited amounts of oil in exchange for food, medicine, and some
infrastructure spare parts. In December 1999 the UN Security Council
authorized Iraq to export under the program as much oil as required
to meet humanitarian needs. Oil exports have recently been more than
three-quarters prewar level. However, 28% of Iraq's export revenues
under the program have been deducted to meet UN Compensation Fund
and UN administrative expenses. The drop in GDP in 2001-02 was
largely the result of the global economic slowdown and lower oil
prices. Per capita food imports increased significantly, while
medical supplies and health care services steadily improved. Per
capita output and living standards were still well below the prewar
level, but any estimates have a wide range of error. The military
victory of the US-led coalition in March-April 2003 resulted in the
shutdown of much of the central economic administrative structure
and the loss of a comparatively small amount of capital plant.
GDP:
purchasing power parity - $58 billion (2002 est.)
GDP - real growth rate:
-3% (2002 est.)
GDP - per capita:
purchasing power parity - $2,400 (2002 est.)
GDP - composition by sector:
agriculture: 6%
industry: 13%
services: 81% (1993 est.)