Iraq oil exports to China in focus after reaching a record-breaking $38.22 billion in 2024. This figure reflects Iraq’s growing role as one of China’s top energy suppliers and highlights the deepening economic ties between the two nations.
According to trade data, Iraq exported over 63.83 million tonnes of oil to China last year. This made up 35% of China’s total crude oil imports, placing Iraq among the leading global exporters to the East Asian giant. The continued rise in export volume marks a major achievement for Iraq’s oil sector.
Over the past four years, Iraq has maintained strong growth in energy exports to China. The compound annual growth rate reached 18%, signaling a sustained upward trend in trade. Iraq oil exports to China in focus show how Baghdad’s strategy to strengthen ties with Asia’s largest economy is paying off.
Crude oil formed the backbone of these exports, totaling $36.97 billion. Other petroleum products also played a role. Iraq shipped $1.2 billion worth of petroleum oils and derivatives, while products like petroleum coke, bitumen, and liquefied petroleum gas (LPG) added another $59.08 million to the total.
This performance highlights Iraq’s ability to remain competitive in a crowded global market. China’s demand for energy continues to grow, and Iraq has positioned itself as a reliable supplier. Iraq oil exports to China in focus reveal a vital partnership that is shaping regional and global energy flows.
The success of Iraq’s oil exports to China also plays a critical role in the country’s economy. Oil sales to China help stabilize Iraq’s revenue stream, fund public spending, and support economic planning. Officials continue to look for ways to expand infrastructure and ensure steady export flows, even during times of market volatility.
Experts believe this momentum could carry into future years, especially if Iraq continues to invest in pipeline projects, export terminals, and refinery upgrades. With energy demand remaining high in Asia, Iraq has a strong chance to increase its market share even further.
In conclusion, Iraq has achieved a milestone by exporting over $38 billion in oil to China in 2024. This growing partnership reinforces Iraq’s standing in the global energy market and shows strong potential for future growth.