Iraq Economic Statistics and Indicators

03, Aug 2015, EDT. Welcome to the Iraq economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Iraq › Change country
National or Regional Currency: Iraqi Dinar, IQD
Year of data: 2014 › Change year
Number of Indicators Listed: 30
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 32,585,692 (July 2014 est.)
Area: total: 438,317 sq km ; land: 437,367 sq km ; water: 950 sq km
Natural Resources: petroleum, natural gas, phosphates, sulfur
Capital: name: Baghdad ; geographic coordinates: 33 20 N, 44 24 E ; time difference: UTC+3 (8 hours ahead of Washington, DC, during Standard Time)

An improving security environment and foreign investment are helping to spur economic activity, particularly in the energy, construction, and retail sectors. Broader economic development, long-term fiscal health, and sustained improvements in the overall standard of living still depend on the central government passing major policy reforms. Iraq's largely state-run economy is dominated by the oil sector, which provides more than 90% of government revenue and 80% of foreign exchange earnings. Iraq in 2012 boosted oil exports to a 30-year high of 2.6 million barrels per day, a significant increase from Iraq's average of 2.2 million in 2011. Government revenues increased as global oil prices remained persistently high for much of 2012. Iraq's contracts with major oil companies have the potential to further expand oil exports and revenues, but Iraq will need to make significant upgrades to its oil processing, pipeline, and export infrastructure to enable these deals to reach their economic potential. The Iraqi Kurdistan Region's (IKR) autonomous Kurdistan Regional Government (KRG) passed its own oil law in 2007, and has directly signed about 50 contracts to develop IKR energy reserves. The federal government has disputed the legal authority of the KRG to conclude most of these contracts, some of which are also in areas with unresolved administrative boundaries in dispute between the federal and regional government. Iraq is making slow progress enacting laws and developing the institutions needed to implement economic policy, and political reforms are still needed to assuage investors' concerns regarding the uncertain business climate, which may have been harmed by the November 2012 standoff between Baghdad and Erbil and the removal of the Central Bank Governor in October 2012. The government of Iraq is eager to attract additional foreign direct investment, but it faces a number of obstacles including a tenuous political system and concerns about security and societal stability. Rampant corruption, outdated infrastructure, insufficient essential services, skilled labor shortages, and antiquated commercial laws stifle investment and continue to constrain growth of private, nonoil sectors. Iraq is considering a package of laws to establish a modern legal framework for the oil sector and a mechanism to equitably divide oil revenues within the nation, although these reforms are still under contentious and sporadic negotiation. Under the Iraqi Constitution, some competencies relevant to the overall investment climate are either shared by the federal government and the regions or are devolved entirely to the regions. Investment in the IKR operates within the framework of the Kurdistan Region Investment Law (Law 4 of 2006) and the Kurdistan Board of Investment, which is designed to provide incentives to help economic development in areas under the authority of the KRG. Inflation has remained under control since 2006 as security improved. However, Iraqi leaders remain hard pressed to translate macroeconomic gains into an improved standard of living for the Iraqi populace. Unemployment remains a problem throughout the country despite a bloated public sector. Encouraging private enterprise through deregulation would make it easier for Iraqi citizens and foreign investors to start new businesses. Rooting out corruption and implementing reforms - such as restructuring banks and developing the private sector - would be important steps in this direction.
More on the Iraq Economy
More on the Iraq Export, Import and Trade

Economic Indicator Listing
  For Iraq in year 2014 Indicator Value
GDP Growth (Constant Prices, National Currency) -2.664 %
GDP (Current Prices, National Currency)IQD 270,766.02 Billion.
GDP (Current Prices, US Dollars)US$ 232.218 Billion
GDP Deflator 380.243 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)IQD 1,985,141.88 .
GDP Per Capita (Current Prices, National Currency)IQD 7,548,354.95 .
GDP Per Capita (Current Prices, US Dollars)US$ 6,473.72
GDP (PPP), US DollarsUS$ 494.453 Billion
GDP Per Capita (PPP), US DollarsUS$ 13,784.25
GDP Share of World Total (PPP) 0.462 %
Implied PPP Conversion Rate 547.607
Gross National Savings (% of GDP) 17.971 %
Inflation, Average Consumer Prices (Indexed to Year 2000) 149.493 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) 4.73 %
Inflation, End of Year (Indexed to Year 2000) 156.492 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) 8 %
Population 35.871 Million
General government revenue (National Currency)IQD 114,401.57 Billions.
General government revenue (% of GDP) 42.251 %
General government total expenditure (National Currency)IQD 122,583.21 Billions.
General government total expenditure (% of GDP) 45.273 %
Total Government Net Lending/ Borrowing (National Currency)IQD -8,181.64 Billions.
Total Government Net Lending/ Borrowing (% of GDP) -3.022 %
Fiscal Year Gross Domestic Product, Current PricesIQD 270,766.02 Billions.
Current Account Balance (US Dollars)US$ 7.044 Billion
Current Account Balance (% GDP) 3.034 %
Economic Indicators for Iraq 2014

GDP (Constant Prices, National Currency) for Iraq in year 2014 is IQD 71,208.76 Billion.

GDP Growth (Constant Prices, National Currency) for Iraq in year 2014 is -2.664 %.

GDP (Current Prices, National Currency) for Iraq in year 2014 is IQD 270,766.02 Billion.

GDP (Current Prices, US Dollars) for Iraq in year 2014 is US$ 232.218 Billion.

GDP Deflator for Iraq in year 2014 is 380.243 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Iraq in year 2014 is IQD 1,985,141.88 .

GDP Per Capita (Current Prices, National Currency) for Iraq in year 2014 is IQD 7,548,354.95 .

GDP Per Capita (Current Prices, US Dollars) for Iraq in year 2014 is US$ 6,473.72 .

GDP (PPP), US Dollars for Iraq in year 2014 is US$ 494.453 Billion.

GDP Per Capita (PPP), US Dollars for Iraq in year 2014 is US$ 13,784.25 .

GDP Share of World Total (PPP) for Iraq in year 2014 is 0.462 %.

Implied PPP Conversion Rate for Iraq in year 2014 is 547.607 .

Gross National Savings (% of GDP) for Iraq in year 2014 is 17.971 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Iraq in year 2014 is 149.493 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Iraq in year 2014 is 4.73 %.

Inflation, End of Year (Indexed to Year 2000) for Iraq in year 2014 is 156.492 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Iraq in year 2014 is 8 %.

Population for Iraq in year 2014 is 35.871 Million .

General government revenue (National Currency) for Iraq in year 2014 is IQD 114,401.57 Billions.

General government revenue (% of GDP) for Iraq in year 2014 is 42.251 %.

General government total expenditure (National Currency) for Iraq in year 2014 is IQD 122,583.21 Billions.

General government total expenditure (% of GDP) for Iraq in year 2014 is 45.273 %.

Total Government Net Lending/ Borrowing (National Currency) for Iraq in year 2014 is IQD -8,181.64 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Iraq in year 2014 is -3.022 %.

Fiscal Year Gross Domestic Product, Current Prices for Iraq in year 2014 is IQD 270,766.02 Billions.

Current Account Balance (US Dollars) for Iraq in year 2014 is US$ 7.044 Billion.

Current Account Balance (% GDP) for Iraq in year 2014 is 3.034 %.

* Source: IMF
Aggregate Indicators for Iraq
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Iraq
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Iraq
  Natural Resources, Agricultural Products, Land Use and Water Use for Iraq
  Nationality, Ethnic Groups, Languages and Religions for Iraq
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Iraq
  Age Structure, Median Age, Gender and Urbanization for Iraq
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Iraq
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Iraq
  HIV, AIDS and Other Major Infectious Disease Rates for Iraq
  Literacy Rate, Educational Expenditure and School Life Expectancy for Iraq
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Iraq
  Industries and Industrial Growth Production Rate for Iraq
  Labor Force by Occupation for Iraq
  Poverty Line, Gini Index, Household Income and Consumption for Iraq
  National Budget and Public Debt for Iraq
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Iraq
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Iraq
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Iraq
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Iraq
  Foreign Exchange Reserves and Gold Reserves for Iraq
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Iraq
  Exchange Rate Statistics for Iraq
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Iraq
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Iraq
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Iraq
  Television and Radio Statistics (TV Stats, Radio Stats) for Iraq
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Iraq
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Iraq
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Iraq
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Iraq
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Iraq
* Source: CIA
Internet Indicators for Iraq
Indicators
  Number of Internet Users for Iraq
  Internet Penetration Rate for Iraq
  Number of Facebook Accounts for Iraq
  Facebook Penetration Rate for Iraq
* Source: IWS
Economic Freedom Indicators for Iraq
Indicators
  Economic Freedom World Rank for Iraq
  Economic Freedom Regional Ranking for Iraq
  Business Freedom for Iraq
  Trade Freedom for Iraq
  Fiscal Freedom for Iraq
  Government Spending for Iraq
  Monetary Freedom for Iraq
  Investment Freedom for Iraq
  Financial Freedom for Iraq
  Property Rights for Iraq
  Freedom from Corruption for Iraq
  Labor Freedom for Iraq
  Tariff Rate for Iraq
  Income Tax Rate for Iraq
  Corporate Tax Rate for Iraq
  Tax Burden % of GDP for Iraq
  Government Expenditure % of GDP for Iraq
* Source: HFO
Corruption Perceptions Index Rank and Score for Iraq
Indicator
  Corruption Perceptions Index Rank and Score for Iraq
* Source: TIO
Iraq Economic Indicators in other Years
  Iraq Economic Indicators for Year 2019 (Forecast)
  Iraq Economic Indicators for Year 2018 (Forecast)
  Iraq Economic Indicators for Year 2017 (Forecast)
  Iraq Economic Indicators for Year 2016 (Forecast)
  Iraq Economic Indicators for Year 2015 (Forecast)
Iraq Economic Indicators for Year 2014 (Current)
  Iraq Economic Indicators for Year 2013
  Iraq Economic Indicators for Year 2012
  Iraq Economic Indicators for Year 2011
  Iraq Economic Indicators for Year 2010
  Iraq Economic Indicators for Year 2009
  Iraq Economic Indicators for Year 2008
  Iraq Economic Indicators for Year 2007
  Iraq Economic Indicators for Year 2006
  Iraq Economic Indicators for Year 2005
  Iraq Economic Indicators for Year 2004
  Iraq Economic Indicators for Year 2003
  Iraq Economic Indicators for Year 2002
  Iraq Economic Indicators for Year 2001
  Iraq Economic Indicators for Year 2000
  Iraq Economic Indicators for Year 1999
  Iraq Economic Indicators for Year 1998
  Iraq Economic Indicators for Year 1997
  Iraq Economic Indicators for Year 1996
  Iraq Economic Indicators for Year 1995
  Iraq Economic Indicators for Year 1994
  Iraq Economic Indicators for Year 1993
  Iraq Economic Indicators for Year 1992
  Iraq Economic Indicators for Year 1991
  Iraq Economic Indicators for Year 1990
  Iraq Economic Indicators for Year 1989
  Iraq Economic Indicators for Year 1988
  Iraq Economic Indicators for Year 1987
  Iraq Economic Indicators for Year 1986
  Iraq Economic Indicators for Year 1985
  Iraq Economic Indicators for Year 1984
  Iraq Economic Indicators for Year 1983
  Iraq Economic Indicators for Year 1982
  Iraq Economic Indicators for Year 1981
  Iraq Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International