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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 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
GDP166.76 bn USD4,145.86 USD15,291.93 tn USD29,692.11 USD
Gross national product188.10 bn USD4,676.41 USD15,330.84 tn USD29,767.66 USD


Development of the Gross domestic product in billion US Dollar 1970 - 2020



Im- and Exports 2020

 Iraq
Total
Iraq
per capita
EU
Total
EU
per capita
Imports54.72 bn USD1,360.51 USD7,340.01 bn USD14,251.98 USD
Exports50.61 bn USD1,258.33 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 2005 - 2020

Exports
Imports



Iraq: AirportsThe 5 airports in IraqThe 5 biggest airports in Iraq with further information on airlines and destinations
Pariah StatesList of the 11 current Pariah States11 countries, which suffer from the sanctions of the international community because of their mostly autocratic government.
Netherlands: Public HolidaysPublic holidays in the Netherlands 2022-2026Statutory and inofficial holidays in the Netherlands for 2022 to 2026