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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Industry’s contribution to Iraq’s GDP has decreased 75% since the start of the blockade and continue

rocky
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Industry’s contribution to Iraq’s GDP has decreased 75% since the start of the blockade and continue Empty Industry’s contribution to Iraq’s GDP has decreased 75% since the start of the blockade and continue

Post by rocky Mon 14 Feb 2022, 8:57 am


[size=30]Industry’s contribution to Iraq’s GDP has decreased 75% since the start of the blockade and continued after 2003.. 40% of factories are still closed


2022-02-14
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[You must be registered and logged in to see this link.]Iraqi government forces supported by fighters from the Abbas Brigade, which fights under the umbrella of the popular mobilisation units, towards the cement plant in village of Badush, some 15 kilometres of northwest Mosul, during the ongoing battle to retake the city's west from Islamic State (IS) group jihadists on March 9, 2017. / AFP PHOTO / Mohammed SAWAF
Yes Iraq: Baghdad

The latest statistics of the Iraqi Ministry of Planning revealed, today, Monday, that the contribution of the industrial sector to the country’s gross domestic product amounted to 3% during the past year 2020, which is a low level compared to its contribution before the siege, which amounted to 12%, which means that the contribution of the industrial sector in Iraq decreased by 75% % since the blockade.
And the Central Bureau of Statistics of the Ministry said in a report that “the industry in Iraq has witnessed fluctuation and instability since the beginning of its development in the seventies, between rise and decline to witness progress in the period between 1989 and 1990 to reach 12%.”
He added that "the industry witnessed a significant decline during the years of the economic blockade imposed on Iraq in August 1990 until 2003, as the industry's contribution to local production amounted to less than 2% in 1997."
He pointed out that "the industrial sector has not witnessed a significant development in its contribution to the gross domestic product within the activity of manufacturing industries, since that date due to the almost total dependence on oil production."
As for the period of the Corona pandemic, the report stated, “The percentage of GDP increased by 1% in light of the decline in global oil prices, to reach 3% in 2020.”
While the industry’s contribution to the GDP in 2003 reached 2%, it has been at this level for 18 years and has never progressed.
The number of factories affiliated with public sector companies in Iraq is about 227, of which only 140 are operating, according to data from the Ministry of Industry and Minerals, and 87 others are suspended.
As for the number of fully established industrial projects, it amounts to 20,415 projects, of which only 2,248 projects are operating, which means that 90% of industrial projects are suspended.
The low contribution of the industry to the GDP explains the reason why oil is the dominant one in the GDP, as it reached during 2020 57 percent, while the activity of wholesale and retail trade and hotels came second in terms of contributing to the GDP by 8.05 percent.
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    Current date/time is Thu 01 Dec 2022, 10:57 am