Indicators of economy in Iraq
The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Iraq reached 4.146 US dollars per inhabitant, or 166.76 bn US Dollar in the whole country. Iraq is therefore currently ranked 53 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Iraq is in the list of the world's richest countries in place 116.Inflation in Iraq was in 2021 at around 6.04%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 63.2% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.
Back to overview: Iraq
Impact of the Covid-19 pandemic in 2020
The consequences of the Covid pandemic in 2020 were considerable in Iraq. Overall, gross domestic product in 2020 fell from 235.10 billion US Dollar auf 166.76 billion US Dollar. With a large drop of 29.07 percent, the economy in Iraq has struggled significantly more than other countries. The tourism sector alone slumped by around 73 percent. The unemployment rate rose from 12.9 to 14.1 percent. The consumer inflation rate has risen from -0.2% previously to 0.6% now.Unemployment rates in percent 1991 - 2021
Economic performance 2020
Iraq Total | Iraq per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 166.76 bn USD | 4,145.86 USD | 15,291.93 tn USD | 29,692.11 USD |
Gross national product | 188.10 bn USD | 4,676.41 USD | 15,330.84 tn USD | 29,767.66 USD |
Development of the Gross domestic product in billion US Dollar 1970 - 2020
› Debt budget development
› Development of inflation
› Corruption in Iraq
› Cost of living in a global comparison
› Development of inflation
› Corruption in Iraq
› Cost of living in a global comparison
Im- and Exports 2020
Iraq Total | Iraq per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 54.72 bn USD | 1,360.51 USD | 7,340.01 bn USD | 14,251.98 USD |
Exports | 50.61 bn USD | 1,258.33 USD | 7,939.04 bn USD | 15,415.11 USD |
Development of imports and exports in billion US dollars 2005 - 2020
Exports
Imports