Iraq Tenders


Capital Baghdad
ISO 3166 Code IQ
Population 36,004,552
Area, Sq KM 437,072
Currency Iraqi dinar
Official Language Kurdish, Arabic
GDP, Billion USD 2,29,327
GDP Growth Rate, % -0.5
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 1157.15
International dial code 964
Time Zone GMT+03:00
Internet TLD .iq

Iraq is officially known as the Republic of Iraq and is a country located in Western Asia. Iraq is bordered and surrounded by various countries that include Iran to the east, Syria to the west, Turkey to the north, , Kuwait to the southeast, Jordan to the southwest and Saudi Arabia to the south. The Arabian Peninsula comprises the southern part of Iraq. The capital, Baghdad is the capital of Iraq and is also located in the center of the country. Bagdad is the largest city of this country. Majority of the ethnic groups in Iraq are Kurds and Arabs. The coastline of Iraq is quite narrow and measures only up to 58 km on the northern Persian Gulf. Two major rivers of the country, namely, the Tigris and Euphrates, provide the country with significant amounts of fertile land. Mesopotamia is known to be the world’s oldest civilization and the region between the Euphrates and Tigris rivers is referred to as Mesopotamia where ancient civilization flourished ages ago and mankind learned to write, create laws, read or form a government. This region has therefore been an ideal home to successive civilizations since the 6th millennium BC. The modern borders of this country were demarcated mostly by the League of Nations in 1920 which resulted into Iraq being placed under the authority of the United Kingdom. Iraq gained its independence from Britain in 1932. The economy of Iraq is dominated hugely by the oil sector. These oil sectors have provided traditionally about 95% of the foreign exchange earnings. However, there is not much development in the other sectors and as a result of which the unemployment rate was recorded around 18 to 20 percent and the per capita GDP of was recorded at mere 4,000 dollars. In 2011, public sector employment accounts for almost 60% of the full-time employment. The oil export industry, surprisingly doesn’t contribute much in improving the unemployment rate of the country. Agriculture happens to be the main occupation of the people in Iraq and previously Iraq’s planned economy restricted foreign ownership of the business that is carried out in Iraq. However, in the year 2003, after the Invasion of Iraq, the Coalition Provisional Authority began issuing several binding orders that led to privatizing Iraq's economy and finally opening it up to the foreign investors. Iraq was in huge debt when it was invaded and somehow from 120 billion dollars in 2003, the debt has grown into 125 billion dollars by 2004.

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