Macro-Level Market Analysis

What is your macro market?

Iraq

What is your micro market?

Duhok

Demographic Trends:

 Iraq’s total population was 45.00 million in January 2023.

 PEOPLE MY APPS REQUIRED AGE:
 10.8 percent are between the ages of 13 and 17.
 13.3 percent are between the ages of 18 and 24.
 15.4 percent are between the ages of 25 and 34.
 11.1 percent are between the ages of 35 and 44.
 8.2 percent are between the ages of 45 and 54.
 4.7 percent are between the ages of 55 and 64.
 3.4 percent are aged 65 and above.
 TOTAL PERCENTAGE: 66.9%
 TOTAL AMOUNT OF POPULATION: 45M * 0.669 * = 30.105M
 INTERNET USERS: 33.72 million
 Gender: Irrelevant
 Place of living (rural, urban): irrelevant
 MY MARKET: 33.72 * 0.669 = 22.56M

https://datareportal.com/reports/digital-2023-iraq

Sociocultural Trends:

 The number of e-commerce users in Iraq is expected to be 22.5 million users by 2025
 For the Iraqi e-commerce market, revenue was US$5,67 million in 2022.
 Revenue in the E-commerce sector in Iraq is expected to show a compound annual growth rate
(CAGR 2023-2027) of 12.8%, resulting in a projected market volume of US$7,371.8 million by
2027.
 As we can see, online shopping in e-commerce is increasing.

https://www.go-globe.com/e-commerce-and-online-payments/
Technological Trends:

 Internet Users: As of your analysis, there were 33.72 million internet users, indicating a
significant digital audience for technology-based solutions.

Economic Trends:

 Revenue Boost: In 2021, government money coming in jumped by 73% from the year
before, helped by higher oil prices, leading to more money in the government's pocket than
spent.
 Public Sector Size: Since 2003, the number of government jobs has grown a lot, making up
over a quarter of the budget in 2023.
 Spending on Building: Money is set aside to fix places hurt by conflicts and for other big
projects.
 Oil Reliance Issues: The country's economy depends a lot on oil, which faces problems like
limits on how much can be produced and issues with oil pipelines.
 Dollar Approval: In 2024, Iraq got the okay from the US to make sure it has enough dollars,
helping to keep the economy stable.

https://www.forbesmiddleeast.com/money/banking-finance/iraq-central-bank-says-us-fed-
approved-usd-supply-for-2024

https://www.aljazeera.com/news/2023/6/26/analysis-iraqs-new-budget-may-hamper-more-than-it-
helps

https://www.focus-economics.com/countries/iraq/

https://www.worldbank.org/en/country/iraq/overview

Regulatory Trends:

 Economic Diversification Efforts: Budget allocations for infrastructure and development aim
to support economic diversification.
 Regulatory Environment: Iraq's regulatory environment continues to evolve, focusing on
stabilizing the economy and fostering growth through various reforms and budget
allocations.

https://www.aljazeera.com/news/2023/6/26/analysis-iraqs-new-budget-may-hamper-more-than-it-
helps

Natural Trends:

 Climate Challenges: Iraq faces significant challenges from water scarcity and the impact of
climate change on agriculture, which are crucial considerations for technology
entrepreneurs, especially those in sectors relying on local resources.

https://www.focus-economics.com/countries/iraq/