Indicators of economy in Iraq
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Iraq, on the other hand, reached USD 4,775 per capita, or 207.89 billion USD for the whole country. Iraq is therefore currently ranked 52 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Iraq ranks 120th in the list of the richest countries.Inflation in Iraq in 2021 was around 6.04%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 63.2 percent lower.
The index for perceived corruption in the public sector is 23, which is rather poor by global standards.
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 dollars to 184.37 billion US dollars. 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 percent previously to 0.6 percent now.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Iraq Total | Iraq per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 207.89 bn USD | 4,775.38 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 207.08 bn USD | 4,756.84 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in billions of USD 1970 - 2021
› 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
Imports and Exports 2021
Iraq Total | Iraq per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 54.72 bn USD | 1,257.04 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 50.61 bn USD | 1,162.62 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 2005 - 2021
Exports
Imports