Kurdistan Region of Iraq overview
Iraq at a glance
- Population: 26.7 million
- Capital: Baghdad
- Area: 438,317 km2 (169,234 sq miles)
- President: Jalal Talabani
- Major languages: Arabic and Kurdish
- Major religion: Islam
- Monetary unit: Iraqi dinar
- Main exports: Crude oil
- Int. dialling code: +964
Click on thumbnail to view full-size map
The Republic of Iraq, formerly known as Mesopotamia, is a country in the Middle East. It is bordered by Kuwait, Saudi Arabia, Jordan, Syria, Turkey and Iran. Its very narrow coast lies on part of the Persian Gulf. There are two major flowing rivers: the Tigris and the Euphrates. These act as vital sources for the country and provide it with fertile soil in contrast with the desert landscape that covers most of the Middle East.
Iraq's economy is dominated by the oil sector, which has traditionally provided about 95% of foreign exchange earnings. Iraq is a member of OPEC, though not currently subject to production quotas.
Iraq is arguably one the most abundant countries in the world in respect of hydrocarbon resources potentially available to the industry. Iraqi proven oil reserves are conservatively estimated to be in excess of 100 billion barrels. Iraqi authorities have set a production target of 6 MMbbl/d by 2013 and it is expected that the country will require significant levels of foreign investment to finance the reconstruction of its oil industry to achieve that goal.