Iraq earned $97.6 billion from oil sales in 2023, a significant drop from the record $115 billion in 2022. In December, Iraq exported more than 108 million barrels of oil, averaging 3.4 million barrels per day at an average price of $77 per barrel.
The revenues from December brought Iraq's total annual revenue to $97.6 billion, down roughly $18 billion from 2022, although the revenue at the time was mainly driven by a surge in global oil prices amid fears following Russia's invasion of Ukraine. Additionally, the decline in annual revenue was partly due to the halt of Kurdish oil exports in April.
The South Korean-owned automotive supplier, BC GEN Hungary Kft., has announced a new investment of HUF 21 billion, which will create 400 new jobs in Salgótarján. The announcement was made by Minister of Foreign Affairs and Trade Péter Szijjártó in Budapest on Tuesday.
In recent years, China has pivoted its investment strategy in Central Asia, particularly in Kazakhstan and Uzbekistan, towards renewable energy projects. Notably, agreements were signed in 2023 for Chinese companies to build substantial solar photovoltaic plants in multiple Uzbek regions, representing a total of $4 bn in investment.
Japan welcomed a record 17.78 million foreign visitors in the first half of 2024, the country’s tourism agency has said, as the weak yen helped drive tourist numbers above pre-pandemic levels.