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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 2021 was at about 12.259 USD per capita. GDP in Iraq, on the other hand, reached USD 5.048 per capita, or 207.89 billion USD in the whole country. Iraq is therefore currently ranked 52 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 109.

Inflation in Iraq was in 2021 at around 6.04%. Within the EU, the average in the same year was 2.55%. 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

The consequences of the Covid pandemic in 2020 were considerable in Iraq. Overall, gross domestic product in 2020 fell from 233.64 billion US Dollar auf 184.37 billion US Dollar. With a large drop of 21.09 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 2021

 Iraq
Total
Iraq
per capita
EU
Total
EU
per capita
GDP207.89 bn USD5,048.39 USD17.09 tn USD33,228.68 USD
Gross national product207.35 bn USD5,035.17 USD16.78 tn USD32,621.03 USD


Development of the Gross domestic product in billion US Dollar 1970 - 2021



Im- and Exports 2020

 Iraq
Total
Iraq
per capita
EU
Total
EU
per capita
Imports54.72 bn USD1,328.90 USD8,916.24 bn USD17,337.55 USD
Exports50.61 bn USD1,229.09 USD9,554.34 bn USD18,578.33 USD


Development of imports and exports in billions of USD 2005 - 2020

Exports
Imports



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