Kurdistan Region Facts & Figures

  • Area: 40,643 sq km
  • Population: 5.3 Million
  • Capital: Erbil
  • Established: 1991
  • Status: Federal Region
  • Government: Parliamentary Democracy
  • Legislative Power: 111-seat Kurdistan Parliament
  • Offical Languages: Kurdish, Arabic
  • Ethnic Groups: Kurds, Assyrians, Chaldeans, Turkmen, Armenians, Arabs
  • Neighbors: Turkey, Syria, Iran
  • Currency: Iraqi Dinar
  • Religion: Muslims, Christians, Yazidi
  • Time Zone: GMT +3
  • Tel. Code: +964
  • Climate: Semi-arid Continental

Economy

GDP

$26.5B

Per Capita Income

$7,000

Government Budget

$17.5B

Total Investment

$42B

Inflation

3%

Unemployment

10%

Growth Target

8%

GDP Growth

  • $18B
  • $24B
  • $27B

FDI

$3B

Banks

41

Foreign Banks

13

Investment projects banking

$2.3B

Energy

Oil Reserves

45 BBL

Gas Reserves

165 TCF

Oil Production

400K

Oil & Gas
Investment

$20B

Refineries

Bazian, Kalak

Power Generation Investment

$7B

Electricty

15%

Total Capacity

3,886

The Kurdistan Region has exported over 34.5 million barrels of oil in 2014.
In total, around $3 billion-worth of oil has been sold to customers around the world.

Real Estate & Construction

Housing Demand

58K

Total Investment

$13.7B

Total Investment

  • $2.2B
  • $2.5B
  • $8.8B

Investment Needed

$1.3B
283K
6,057
700%

Total Projects

166

High-profile commercial and residential projects are going up quickly, big residential developments on the outskirts of Erbil are in progress and will greatly expand residential real estate supply in 2-3 years, and much-needed office space is increasingly coming online.

ICT

90%
3G
10%
8%
30%
5%
.krd
3

Internet penetration rates have been climbing steeply, with major growth in local Internet services providers (ISPs). Mobile penetration rates—already relatively high at roughly 93% within the Kurdistan Region—are continuing to rise.

Transport

15%
14,841
$5.2B
2
300K
1.2M
27
4.5M

Construction at Duhok International Airport (DIA) is ongoing, with a projected completion date in 2017. Airport officials aim to see 328,000 passengers, 8,700 tons of cargo, and 3,540 aircraft movements at the airport in its inaugural year.

Agriculture

10%
$1.2B
$704M

Total Investment

  • $430M
  • $263M
  • $10M

$250M
7%
9%
25

Studies have indicated that approximately 50% of the water in the Kurdistan Region exists domestically (in contrast to an estimated 8% in the rest of Iraq).

Higher Education

115,000+
12,000
5,000+
$668M
12
13
5%
Top Majors

Enrollment in private universities has expanded rapidly. In 2014, Kurdistan’s 12 private universities admitted 12,000 new students, an increase of 5,000 over the year prior.

Human Capital

1.4M
2.1M
38%
90%

Unemployment

4.6%

Unemployment

12.6%
$100M
63%

A doubling of Kurdistan’s workforce presents much more opportunity than liability—the addition of 1 million bright, capable entrants to the workforce carries with it unrivaled untapped potential for the Region’s economy and business environment.

Health

$927M
$2.1B
$195M
34
101
42
2,090
4.8%

Foreign and local investors have contributed $927 million to Kurdistan's health sector since 2006.

Tourism

$6.3 Billion
$3.2 Billion
$1 Billion+
7%
35%
380
119
7M

UNESCO’s World Heritage Committee has named the Erbil Citadel to its list of World Heritage Sites after 18 of the Committee’s 21 members voted to approve its application. The Citadel is one of the oldest inhabited cities in the world, with a history that stretches 6,000 years.