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Iraq ranked 82nd in the manufacturing index
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Economy News - Baghdad
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Added 08/02/2024 - 1:42 PM
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Economy News - Baghdad
The head of the Strategic Center for Human Rights, Fadhel Al-Gharawi, confirmed today, Friday, that the manufacturing industries in Iraq are still suffering from many challenges, noting that Iraq ranked 82nd out of 126 countries in the Industrial Manufacturing Index.
Al-Gharawi said in a statement today that China topped the world in manufacturing production, with more than $4.97 trillion, followed by Germany ($751 billion), India ($450 billion), South Korea ($426 billion), and Russia ($287 billion).
He added that Iraq recorded $4 billion and 750 million in 2023 and $4 billion and 725 million in 2022, up from $4 billion and 630 million in 2021, indicating that the highest production of manufacturing industries witnessed by Iraq during the past five years was in 2019, when it amounted to $4 billion and 994 million.
Al-Gharawi noted that Iraq has 4,000 diverse factories, including a group of factories specialized in manufacturing industries, adding, "However, most of them are stopped due to poor management and planning and the lack of marketing and support for the national product."
The head of the center continued by saying that the manufacturing industries may be an important economic resource for the country, contributing to the diversification of the economy’s sources instead of relying on oil.
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Added 08/02/2024 - 1:42 PM
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