Iraq’s automotive market size is one of the biggest in the Middle East and North Africa (MENA) region. Foreign companies are planning to expand their manufacturing plants in the country, and new players continue to enter the market.
Government support for the industry is strong as they continue to look at the automotive market growth in Iraq as one of the biggest sources of revenue. Foreign direct investments in the industry help make a significant contribution to the country’s total GDP.
Iraq is one of the most promising and fastest-growing automobile markets in the region. Iraq automobile industry is supported by multiple factors such as labor availability, R&D efforts, geographic advantage, and government support. With a positive outlook for the economy and greater household purchasing power, automobile sales in the country are set to witness a strong surge in sales to 2026.