Iraq gold imports reached 28.3 tons between October 2023 and December 2024. The Ministry of Planning confirmed that the shipments arrived through Baghdad and Najaf airports. Revenues from these imports exceeded 5.536 billion Iraqi dinars, equal to nearly $4.24 million in total earnings.
According to Fayyadh al-Dalimi, head of the Central Organization for Standardization and Quality Control, Iraq imported almost four tons in the last quarter of 2023. However, activity expanded quickly in 2024, with more than 24 tons imported during that year alone. This sharp increase highlights the stronger demand across Iraq’s jewelry industry and its expanding investment market, attracting both local and regional buyers.
Furthermore, Iraq’s gold reserves recorded a noticeable rise in value in 2025. In August, the Eco Iraq Observatory reported that the value of these reserves grew by 4.76% during the first half of the year. Rising global gold prices supported this positive trend, boosting the strength of Iraq’s financial position and adding confidence among investors.
The observatory also revealed that Iraq currently holds 162 tons of gold as part of its national reserves. International market prices rose from $105 million per ton in January 2025 to $110 million per ton by June. This steady climb created additional stability for the Iraqi economy and reinforced its foreign assets.
In addition, the Central Bank of Iraq confirmed that the gold share within its foreign currency reserves increased notably. By April 2025, the value of gold reserves reached 22.492 trillion dinars, around $17.21 billion. This represented a 5.62% increase from March, when the figure stood at 21.228 trillion dinars, equal to nearly $16.23 billion.
Overall, the steady rise in Iraq gold imports and the higher value of reserves underline the importance of the precious metal. Gold continues to act as a safeguard for financial stability while offering Iraq an important long-term investment opportunity for growth.