Economy of Iraq
Population: 38.43 M (2018)
GDP per Capita: 5,834 USD (2018)
224,230 M.

GDP USD

(2018)

Display Chart
98,590 M.

EXPORTS USD

(2018)

Display Chart
80,610 M.

IMPORTS USD

(2018)

Display Chart
58.92 %

PUBLIC DEBT

(2017)

Display Chart
Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 15.21 % (2016)
GDP of 2010 USD USD 210.50 B. (2018)
GDP Current USD USD 224.23 B. (2018)
GDP per Capita Current USD USD 5,834 (2018)
GDP per capita, PPP USD 15,471 (2018)
GDP per Capita, 2010 USD USD 5,478 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 21.24 % (2018)
Government Spending USD 47.63 B. (2018)
Government Debt % GDP 58.92 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 168.55 (2018)
Trade Openness 79.92 % (2018)
Exports of Goods and Services % GDP 43.97 % (2018)
Exports Goods & Services USD 98.59 B. (2018)
Exports Annual Growth 1.36 % (2018)
Imports as % GDP 35.95 % (2018)
Total Imports USD 80.61 B. (2018)
Foreign Direct Investment % GDP 1.56 % (2012)
Foreign Direct Investment USD 3.40 B. (2012)
Current Account Balance % GDP USD 15.33 % (2018)
Current Account Balance USD 34.37 B. (2018)
Trade Balance % GDP 8.02 % (2018)
Trade Balance USD 35.05 B. (2018)
Foreign Exchange Reserves incl Gold USD 64.72 B. (2018)
Remittances % GDP 0.33 % (2018)
Remittances USD 685 M. (2018)
Balance of Payments USD 579 M. (2006)

Labor Market

Indicator Value
Labor Force 10.38 M. (2019)
Unemployment Rate 7.91 % (2019)
Unemployment Rate Females 30.40 % (2019)
Unemployment Rate Males 10.08 % (2019)
Youth Unemployment (ages 15-24) 16.52 % (2019)
Labor Force Participation Rate 42.60 % (2019)
Labor Force (Percent Female) 13.48 % (2019)
Female Labor Force Participation Rate 12.45 % (2019)
Male Labor Force Participation Rate 72.61 % (2019)
Dependent People 71.56 % (2018)

Agriculture Sector

Indicator Value
Forest Area 1.90 % (2016)
Forest Area km² 8,250 km² (2016)
Agricultural Land 21.42 % (2016)
Agricultural Land km² 93,000 km² (2016)
Employment 18.68 % (2019)
Value added % GDP 2.00 % (2018)
Agriculture Value added USD 4.48 B. (2018)
Crop Production Index 63.80 (2016)
Precipitation 216 mm (2014)
Arable Land 12 % (2016)
Cereal Yield 2,751 kg/hectare (2017)
Food production index 67 (2016)
Rural Population 30 % (2018)
Fertilizer use of Arable Land 36 kg/hectare (2016)
Livestock Production Index 125 (2016)
Economy of Iraq

According to the World Bank and its latest published data, the economy of the Iraq presents a growth rate of 15.21 % (2016) to the previous year.

With a population that reaches 38.43 M (2018) and a gross domestic product of USD 224.23 B. (2018), it translates a Gross Domestic Product per Capita of USD 5,834 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Iraq also has a workforce of 10.38 M. (2019) with an unemployment rate of 7.91 % (2019), where women represent 30.40 % (2019) and men 10.08 % (2019), the unemployment rate for young people between 15-24 years old stood at 16.52 % (2019). The total number of dependent people stands at 71.56 % (2018).

The central government spent 21.24 % (2018) of its gross domestic product that year, which in absolute terms is USD 47.63 B. (2018). Its consolidated public debt reached 58.92 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Iraq exported USD 98.59 B. (2018), which represents 43.97 % (2018) of its gross domestic product, in that same sense its imports reached USD 80.61 B. (2018) with a direct foreign investment of USD 3.40 B. (2012).

Iraq has a forest area of 8,250 km² (2016), which represents 1.90 % (2016) of its total area, an average rainfall of 216 mm (2014) per year and a population of 30 % (2018) living in rural areas. With a total area of 93,000 km² (2016) available for agriculture and 18.68 % (2019) of its employments, the agricultural sector contributes to the economy of the Iraq about USD 4.48 B. (2018) (2.00 % (2018) of its GDP).