Industry
Traditionally, Iraq’s manufacturing activity has been closely connected to the oil industry. The major industries in that category have been petroleum refining and the manufacture of chemicals and fertilizers. Before 2003, diversification was hindered by limitations on privatization and the effects of the international sanctions of the 1990s. Since 2003, security problems have blocked efforts to establish new enterprises. The construction industry is an exception; in 2000 cement was the only major industrial product not based on hydrocarbons. The construction industry has profited from the need to rebuild after Iraq’s several wars. In the 1990s, the industry benefited from government funding of extensive infrastructure and housing projects and elaborate palace complexes.
Read more about this topic: Economy Of Iraq
Famous quotes containing the word industry:
“The reason American cars don’t sell anymore is that they have forgotten how to design the American Dream. What does it matter if you buy a car today or six months from now, because cars are not beautiful. That’s why the American auto industry is in trouble: no design, no desire.”
—Karl Lagerfeld (b. 1938)
“The Founding Fathers in their wisdom decided that children were an unnatural strain on parents. So they provided jails called schools, equipped with tortures called an education. School is where you go between when your parents can’t take you and industry can’t take you.”
—John Updike (b. 1932)