Iraq’s primary natural resource is petroleum, but the country also has an abundance of natural gas, phosphates and sulfur. As of 2014, Iraqi officials report that the country’s petroleum reserves represent 115 billion barrels, but some analysts suspect that an additional 200 billion barrels of oil await discovery. Iraq has the second most abundant petroleum reserves in the world, trailing only Saudi Arabia.Know More
A small number of oil fields are located in central and eastern Iraq, but the majority of the country’s reserves are in the northern and southern ends of the nation. The northern oil-rich region is called Kirkuk, while the southern oil fields make up the region known as Rumaylah. As of 2014, the total value of Iraq’s petroleum exports is approximately 89.4 billion dollars.
Aside from petroleum, most of Iraq’s economy is based around agriculture. Nevertheless, only about 12 percent of Iraq’s land area is used for farming, as of 2014. Farmers use irrigation systems to keep their crops watered in the dry desert-like climate of the country. Some areas, especially those between the Tigris and Euphrates rivers, have richer soils and are very important agricultural regions. Iraq’s primary agricultural products are wheat, rice and barley. Additionally, Iraq produces a significant portion of the world’s dates.Learn more about Geography
According to Fanack, Saudi Arabia has the largest natural resource deposits in the Middle East, with oil and gas being the most important. According to 2008 estimates, the Kingdom has over 267 billion barrels of recoverable oil reserves, which will last for several decades at the current oil-extraction rates of between 9 and 10 million barrels daily. Other mineral resources include: gold, copper, silver, zinc and iron.Full Answer >
The Middle East is composed of several countries including Israel, Cyprus, Bahrain, Egypt, Iraq, Iran, Kuwait, Jordan, Oman, Lebanon, Saudi Arabia, United Arab Emirates, Qatar, Syria and Yemen. Collectively, these countries have a wealth of natural resources. Apart from having half of the world’s oil reserves, countries such as Israel, Oman, Qatar, Bahrain, United Arab Emirates, Yemen and Iran have natural gas reserves.Full Answer >
Iraq is on the continent of Asia. The country is located in the region known as the Middle East, which is in the western part of Asia.Full Answer >
The capital and largest city of Iraq is Baghdad. Baghdad is situated along the Tigris River, comprising an area of about 80 square miles at an elevation of 112 feet above sea level. The city had a population of approximately 7.2 million people as of 2011.Full Answer >