Country Report - Browse a full set of economic indicators


Country Report - Includes Iraq real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Iraq economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Iraq best banks and safest banks are also available.

Dependent On Oil Revenue

Despite its abundant oil reserves, Iraq grapples with formidable challenges. According to the World Bank, Iraq’s economy relies on oil for over 99% of its exports, 85% of the government’s budget, and 42% of the total GDP, leaving the nation vulnerable to price fluctuations. Along with the limited diversification of its revenue streams, Iran’s progress is hindered by high public debt, a weak private sector, bureaucratic hurdles and corruption.

Nevertheless, in recent years, Iraq has attracted increasing interest from foreign investors, particularly in sectors such as energy, construction, and retail. Additionally, Iraq can also boast a rapidly growing and youthful population, presenting an opportunity for a dynamic workforce capable of driving economic growth.

GDP & Economic Information

Iraq GDP & Economic Overview

Key Facts

Total Area 438,317 sq km
Type of Government Federal parliamentary republic
Capital City Baghdad
Total Population 44.472 million
Median Age 20.0
Total GDP USD 271.471 millions
Adult Per Capita Income (PPP) USD 17,097

Trade & Finance

International Trade

Total Exports USD 47,848.81 million
Major Exports Crude petroleum
refined petroleum
petroleum coke
natural gas
Major Trade Partners – Export Unspecified
United Arab Emirates
Total Imports USD 1,646,553 million
Major Imports Refined petroleum
broadcasting equipment
Major Trade Partners – Imports China
United Arab Emirates
South Korea
United States

Inbound and Outbound Investment

Data Shows Iraq’s Debt Load To Be Close To The Regional Average

The chart at left compares Iraq’s debt-to-GDP ratio to the regional average. It illustrates how the country has been successful at keeping its debt burden in line with its national productive capacity.

Iraq's Leading Companies

Oil Iraq National Oil Company
Bank Trade Bank of Iraq
Bank Industrial Bank of Iraq
Telecom Asiacell
Construction Ability With Innovation

Global Finance Rankings & Awards: Iraq

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000