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1 2005 International Monetary Fund August 2005 IMF Country Report No. 05/295 Iraq: Statistical Appendix This Statistical Appendix paper for Iraq was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on July 18, The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Iraq or the Executive Board of the IMF. The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information. To assist the IMF in evaluating the publication policy, reader comments are invited and may be sent by to publicationpolicy@imf.org. Copies of this report are available to the public from International Monetary Fund Publication Services th Street, N.W. Washington, D.C Telephone: (202) Telefax: (202) publications@imf.org Internet: Price: $15.00 a copy International Monetary Fund Washington, D.C.

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3 INTERNATIONAL MONETARY FUND IRAQ Statistical Appendix Approved by Middle East and Central Asia Department July 18, 2005 Contents Page 1. Gross Domestic Product at Current Prices, Gross Domestic Product at Constant 1998 Prices, Crude Oil Production, Electricity Average Monthly Production, Cement Production, Consumer Price Index, Exchange Rate, Interest Rates, Central Bank Survey, Government and Oil Sector Accounts by Source (Economic Classification), Government Recurrent Expenditure by Source (Administrative Classification), Government Capital Expenditure by Source (Administrative Classification), Balance of Payments, Oil Exports, Non-Oil Exports, Exports by Countries of Destination and SITC Classification...17

4 - 2 - Table 1. Iraq: Gross Domestic Product at Current Prices, (In billions of ID, unless otherwise indicated) Economic activity Agriculture, hunting, forestry, and fishing 1,337,577 1,961,779 2,602,212 2,697,266 3,294,802 3,728,259 2,582,601 Mining, crude oil, and quarrying 11,154,595 11,749,021 26,930,706 41,850,176 30,691,994 2,935 20,372,405 Crude oil 11,152,808 11,746,243 26,926,754 41,834,912 30,675,271 29,021, ,497 Other mining 1,788 2,778 3,952 15,264 16,723 23,164 22,633 Manufacturing 98, , , , , , ,297 Electricity and water 11,107 18,622 23,030 37, ,837 59,820 26,405 Construction 26,044 40,236 64,335 93, , , ,915 Wholesale and retail trade, restaurants, and hotels 746,256 1,051,522 1,421,294 1,654,226 2,073,947 2,545,856 2,426,115 Transport, storage, and communications 1,068,952 1,393,204 2,056,679 2,390,507 2,570,297 3,238,287 2,745,802 Finance, insurance, real estate, and business services 260, , , , , ,986 Finance and insurance services 84,917 86, , , , , ,787 Real estate 175, , , , , , ,199 Community, social, and personal services 263, , , , , , ,722 Producers of government services 152, , , , , , ,323 Gross domestic product at current factor costs 15,119,511 17,172,976 34,479,377 50,294,681 40,905,357 41,439,139 30,127,571 Less: Imputed bank service charge 76,647 77, , , , , ,438 Gross domestic product at current factor cost 15,042,864 17,095,017 34,360,213 50,149,141 40,726,636 41,219,402 29,989,133 Plus: Indirect taxes -165, ,674 2,022, ,926-4,198,909-4,095,912-5,326,054 Gross domestic product at market prices 14,877,493 16,959,343 36,382,339 49,904,216 36,527,727 37,123,490 24,663,079 Oil GDP at market prices 10,976,044 11,602,863 28,417,047 41,525,270 27,392,450 25,998,986 16,677,290 Non-oil GDP at market prices 3,901,449 5,356,480 7,965,292 8,378,945 9,135,277 11,124,504 7,985,789 Sources: Authorities data and Fund staff estimates.

5 - 3 - Table 2. Iraq: Gross Domestic Product at Constant 1998 Prices, (In billions of ID, unless otherwise indicated) Economic activity Agriculture, hunting, forestry, and fishing 4,332 4,698 5,438 5,190 6,494 5,766 3,945 Mining, crude oil,and quarrying 12,670 20,956 25,324 25,900 25,701 22,122 13,939 Crude oil 12,656 20,947 25,311 29,878 25,676 22,098 13,917 Other mining Manufacturing 1,822 1,841 1,951 1,864 2,035 1,740 1,244 Electricity and water Construction , Wholesale and retail trade, restaurants, and hotels 1,028 1,262 1,515 1,680 1,810 1,862 1,338 Transport, storage, and communications 1,472 1,672 2,192 2,427 2,243 2,368 1,514 Finance, insurance, real estate, and business services ,061 1,111 1,167 1,189 1,120 Finance and insurance services l Real estate ,002 1,031 Community, social, and personal services Producers of government services 3,754 3,777 3,799 3,822 3,845 3,868 2,089 Gross domestic product at constant factor costs 26,754 35,907 41,987 42,755 44,324 40,716 26,124 Leas: Imputed bank service charge Gross domestic product at current factor cost 26,648 35,813 41,860 42, ,555 26,048 Plus: Indirect taxes , ,554-4,030-4,626 Gross domestic product at constant market prices 26,355 35,529 44,323 42,399 39,614 36,525 21,422 Oil GDP at constant market prices 12,482 20,736 26,733 25,685 22,948 19,824 11,430 Non-oil GDP at constant market prices 13,874 14,793 17,590 16,714 16,666 16,702 9,992 GDP real growth (in percent) Oil GDP real growth (in percent) Non-oil GDP real growth (in percent) Sources: Authorities data and Fund staff estimates.

6 - 4 - Table 3. Iraq: Crude Oil Production, 2004 (In thousands of barrels) Total production January 65,150 February 60,205 March 67,363 April 64,242 May 58,958 June 50,855 July 59,678 August 57,300 September 67,909 October 65,514 November 53,459 December 67,307 Total 737,940 Southern oil January 51,966 February 47,662 March 53,214 April 49,325 May 44,119 June 42,685 July 50,834 August 42,634 September 51,791 October 50,652 November 41,432 December 55,420 Total 581,734 Northern oil company January 13,184 February 12,543 March 14,149 April 14,917 May 14,839 June 8,170 July 8,844 August 14,666 September 16,118 October 14,862 November 12,027 December 11,887 Total 156,206 Source: Authorities data.

7 - 5 - Table 4. Iraq: Electricity Average Monthly Production, (In megawatts) Jan 3,366 3,932 4,463 3,306 Feb 3,477 3,793 4,431 3,545 Mar 2,921 3,231 3,852 3,384 Apr 2,861 3, ,048 May 3,127 3,804 2,136 3,135 Jun 3,720 4,388 2,818 3,621 Jul 4,005 4,601 2,929 3,995 Aug 4,177 4,766 3,018 4,304 Sep 3,888 4,273 3,107 4,119 Oct 3,283 4,004 3,265 4,130 Nov 3,220 3,759 2,938 3,247 Dec 3,488 4,132 2,976 3,320 Total 41,533 47,963 36,644 43,154 Sources: Authorities data.

8 - 6 - Table 5. Iraq: Cement Production, (In tons) White Cement Normal Cement Resistent Cement Total ,619 3,760,686 1,549,435 5,467, ,868 4,897,521 2,098,604 7,170, ,110 1,250, ,352 1,827, , ,619 93, ,389 Source: Authorities data.

9 - 7 - Table 6. Consumer Price Index, (Percentage change) 1993 CPI weights Jan. Feb. Mar. Apr. Cumulative CPI total Tradeables Nontradeables Tradeables Food Tobacco and alcohol Cloths and fabrics Furniture Fuel and light Nontradeables Transportation and communication Medical services and medicine Miscellaneous commodities and services Rent Tradeables Contributions of: Food Tobacco and alcohol Cloths and fabrics Furniture Fuel and light Nontradeables Contributions of: Transportation and communication Medical services and medicine Miscellaneous commodities and services Rent Source: Authorities data.

10 - 8 - Table 7. Iraq: Exchange Rate, (In dinar per US dollar) Average exchange Amount bought Amount sold rate in dinar per by the Central Bank by the Central Bank US dollar of Iraq at auction of Iraq at auction in millions of US dollars in millions of US dollars 2003 October 1, November 1, December 1, January 1, February 1, March 1, April 1, May 1, June 1, July 1,460 1, August 1, September 1,461 12, October 1, ,210.5 November 1,460 2, ,189.5 December 1, Source: Authorities data.

11 - 9 - Table 8. Iraq: Interest Rates, (In percent) Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Ministry of Finance Treasury bills Overdraft Central Bank of Iraq (CBI) Policy rate Primary credit rate Secondary credit rate Lender of last resort Overnight deposits Commercial banks rates ID bank deposits (one year fixed) FX bank deposits (one year fixed) ID bank loans (1 5 years) FX bank loans (1 5 years) Source: Authorities data.

12 Table 9. Iraq: Central Bank Survey, (In billions of ID, unless otherwise indicated) Dec. Dec. Jan. Feb. Mar. Net foreign exchange assets 1/ 1,600 10,743 12,176 12,966 11,247 Foreign exchange assets 1,916 11,538 12,967 13,765 12,045 Gold 2/ Other 1,803 11,422 12,851 13,645 11,928 CBI Vaults 1,803 10,361 11,809 12,601 10,886 SDR Account 0 1,061 1,042 1,044 1,042 Foreign exchange liabilities Of which: IMF liabilities Net domestic assets 4,038 1, ,098 1,675 Domestic assets 3,698 4,345 2,681 2,916 3,494 Net claims on general government 3,698 4,336 2,672 2,907 3,338 Holdings of treasury bills 2,874 2,589 2,589 2,589 2,528 Holdings of discounted treasury bills Overdrafts 909 1,637 1,851 1,821 1,821 Domestic currency deposits Foreign currency deposits ,628-1,769-1,003 Claims on nonbank public institutions Claims on commercial banks Monetary policy instruments 3/ ,639 Other items net 339-2,859-1,952-1, Base money 5,638 12,228 12,904 14,064 12,922 Currency outside banks 2,606 7,163 7,578 8,278 8,561 Currency issued 4,586 8,021 8,361 9,122 9,463 less cash in vaults of commercial banks 1, Banks reserves 1,052 4,208 4,543 4,942 3,459 Required 717 2,287 2,287 2,285 1,390 Excess 335 1,921 2,256 2,657 2,069 Memorandum items: Base money (annual growth, in percent) Currency issued (annual growth, in percent) Gross foreign exchange assets (in millions of U.S. dollars) 1,134 7,902 8,882 9,421 8,239 Gold CBI vaults 1,067 7,097 8,088 8,625 7,446 Deposits at state banks IMF disbursement Foreign exchange liabilities (in millions of U.S. dollars) Net foreign exchange assets (in millions of U.S. dollars) 947 7,358 8,339 8,874 7,692 Exchange rate (end-period) (in ID per dollar) 1,690 1,460 1,460 1,461 1,462 Gross foreign exchange assets/base money (in percent) Claims on banks/base money (in percent) Bank reserves 3,032 5,065 5,327 5,786 4,362 Base money coverage (in percent) Currency in circulation /base money (in percent) Sources: Authorities data, and Fund staff calculations. 1/ Valued at market exchange rates. 2/ Valued at historic or market price, whichever is lower. 3/ This mainly represents the ID and US$ overnight standing deposit facilities.

13 Table 10. Iraq: Government and Oil Sector Accounts by Source (Economic Classification), 2004 (In billions of ID) Budget OFFP 1/ Oil Donors Total enterprises 2/ Revenues and grants 25, ,424 30,018 Revenues 25, ,595 Crude oil export revenues 25, ,326 Revenues of oil-related state owned enterprises Tax revenues Direct taxes Indirect taxes Non-tax revenues Grants 0 0 3,424 3,424 Expenditures 35,039 5, ,424 45,243 Operating expenditures 29,972 3, ,409 36,921 Salary and pension 4, ,532 Goods and Services (non-oil sector) 3/ 6,985 1, ,409 11,017 Goods and Services (oil sector) 4, ,612 Transfers 11,959 2, ,085 Social safety net 3,829 2, ,956 Transfers to SOEs 1, ,237 Transfers to Kurdish area 6, ,782 Others Interest payments War reparations 1, ,304 Investment expenditures 5,066 2, ,014 8,323 Non-oil investment expenditures 4,087 1, ,135 Oil investment expenditures (including on refinerie 980 1, ,188 Overall balance -9,243-5, ,225 Total financing 8,974 5, ,965 External financing 10,177 5, ,169 Reimbursement of arrears Domestic financing Residual Sources: Authorities data and Fund staff estimates. 1/ Expenditure related to letters of credit financed under the oil-for-food program administered by the UN. 2/ Expenditure of oil related state-owned enterprises financed from their own resources. 3/ Includes overhead costs and security spending associated with projects financed by donors.

14 Table 11. Iraq: Government Recurrent Expenditure by Source (Administrative Classification), 2004 (In billions of ID) Budget OFFP 1/ Oil Donors Total enterprises 2/ Financial Surveillance Office Ministry of Foreign Affairs Ministry of Finance 22, ,685 Ministry of Internal Affairs ,006 Ministry of Labor and Social Affairs Ministry of Health Ministry of Security and National Defense Ministry of Justice Ministry of Education 1, ,131 Ministry of Youth and Sports Ministry of Trade 6 2, ,346 Ministry of Culture Ministry of Transportation Ministry of Public Works and Municipalities Ministry of Housing and Construction Ministry of Agriculture Ministry of Financial Resources Ministry of Petroleum ,144 Ministry of Planning and Development Cooperation Ministry of Industry and Mining Minintry of Higher Education and Academic Research Ministry of Religious Endowments & Religious Affairs Baghdad Secretariat Ministry of Electricity Ministry of Science and Technology Ministry of Communications Ministry of the Environment Ministry of Immigration and Emigration Ministry of Human Rights Council of Justice Council of Judges (General Secretariat) Unclassified 3/ 3, ,728 5,384 Total 29,972 3, ,409 36,920 Sources: Authorities data and Fund staff estimates. 1/ Expenditure related to letters of credit financed under the oil-for-food program administered by the UN. 2/ Expenditure of oil related state-owned enterprises financed from their own resources. 3/ Includes overhead costs and security spending associated with projects financed by donors.

15 Table 12. Iraq: Government Capital Expenditure by Source (Administrative Classification), 2004 (In billions of ID) Budget OFFP 1/ Donors Total Financial Surveillance Office Ministry of Foreign Affairs Ministry of Finance Ministry of Internal Affairs Ministry of Labor and Social Affairs Ministry of Health Ministry of Security and National Defense ,031 Ministry of Justice Ministry of Education Ministry of Youth and Sports Ministry of Trade Ministry of Culture Ministry of Transportation Ministry of Public Works and Municipalities Ministry of Housing and Construction Ministry of Agriculture Ministry of Financial Resources Ministry of Petroleum 980 1, ,190 Ministry of Planning and Development Cooperation Ministry of Industry and Mining Minintry of Higher Education and Academic Research Ministry of Religious Endowments & Religious Affairs Baghdad Secretariat Ministry of Electricity 1, ,300 Ministry of Science and Technology Ministry of Communications Ministry of the Environment Ministry of Immigration and Emigration Ministry of Human Rights Council of Justice Council of Judges (General Secretariat) Unclassified Total 5,066 2,242 1,014 8,323 Sources: Authorities data and Fund staff estimates. 1/ Expenditure related to letters of credit financed under the oil-for-food program administered by the UN.

16 Table 13. Iraq: Balance of Payments, / (In millions of U.S. dollars, unless otherwise indicated) Trade balance -1,788 Exports 17,782 Crude oil 17,329 Other exports (including petroleum products other than crude oil) 452 Imports 2/ -19,569 Government imports -13,761 UN Oil for Food Program (OFFP) -3,488 Other consumption imports (non-offp) -3,843 Other non-oil related capital imports (non-offp) -2,352 Oil-related capital imports -1,429 Refined oil products -2,648 Private sector imports -5,809 Of which: refined oil products 0 Income, net 3/ -5,381 Services, net 2/ -4,257 Transfers, net 1,979 Private, net (incl. NGOs) 500 Official 1,479 Receipts 2,345 Payments -866 Current Account -9,447 Capital Account 0 Financial Account 10,842 Direct investment 200 Other capital, net 10,642 Official, net 10,835 Assets 10,835 Liabilities 0 Loan disbursements 0 Amortization 0 Private, net -193 Errors and omissions 178 Overall balance 1,573 Financing -1,573 Central bank (increase -) -6,768 Reserves (net; increase -) -6,332 Liabilities (increase +) 436 Fund credit (net) 436 Disbursement 436 Repayments 0 Deferred accrued interest 4/ 5,380 Change in arrears (net, decrease -) 5/ -35,858 Debt forgiveness 6/ 35,673 Memorandum items: Central Bank reserves 7,902 Central Bank reserves (in months of imports of goods and services) 3.2 Sources: Iraqi authorities and staff estimates. 1/Excludes U.S. military spending in Iraq. 2/Goods imports exclude freight and insurance, which are included in services. Goods imports in the EPCA include freight and insurance. 3/Includes interest accrued, deferred, and capitalized. 4/ Estimates accrued interest on existing stock of debt prior to Paris Club agreement. 5/ Includes debt forgiveness and clearance of arrears on multilateral debt. 6/ Reflects the first tranche of debt reduction (30 percent) at end 2004 as per Paris Club agreement of November 21, 2004, and assumes comparable debt reduction from non-paris Club creditors.

17 Table 14. Iraq: Oil Exports, In millions of U.S. dollars In barrels In millions of barrels per day In U.S. dollars per barrel 2003 July August September October November December 1, Total 3, January 1,248 47,260, February 1,157 43,930, March 1,292 43,337, April 1,552 52,871, May 1,477 46,766, June 1,411 43,719, July 1,326 40,583, August 1,429 40,057, September 1,515 43,505, October 1,937 50,344, November 1,744 46,813, December 1,242 41,662, Total 17, ,853, Source: Authorities data.

18 Table 15. Iraq: Non-Oil Exports, 2004 (F.O.B., in thousand of U.S. dollars) Q1 Q2 Q3 Q Dates 1, ,348 52,513 55,599 Books 0 7, ,288 Habaya 759 2,119 1, ,797 Clover 0 3,242 1, ,677 Skins ,177 2,501 4,581 Pig Iron 2,257 1, ,667 Mash bean ,281 3,432 Wool 293 1, ,228 Cotton 1, ,441 Licorice roots 18 1, ,048 Painting solvent , ,661 Bulgur wheat ,078 Rice Sesame Dried clover Thinner Cheese Wood Cement Date molasses Fertilizer Aniseed Paints Truffle Corn Cotton seeds Ink solvent Canning machines Broad bean Silvanos Acid Seeds Sulfur Other commodities ,198 Total 10,348 21,700 11,421 61, ,329 Sources: Authorities data and Fund staff calculations.

19 Table 16. Iraq: Exports by Countries of Destination and SITC Classification (In millions of U.S. dollars) Total exports 10,082 17,782 By countries of destination Arab countries 887 1,557 North and South American countries 7,179 10,792 European Union countries 1,341 3,127 Other European countries Asian countries 282 2,155 Other countries By SITC classification SITC Description 0 Food and live animals Beverages and tobacco Crude materials, inedible, except fuels Mineral fuels, lubricants, and related materials 8,459 17,675 4 Animal and vegetable oils, fats, and waxes Chemicals and related products Manufactured goods classified chiefly by materials Machinery and transport equipment Miscellaneous manufactured articles Commodities not classified anywhere in the SITC 0 0 Source: Authorities data.