Iraq - Economic Indicators

MENA Outlook: Oil and Food Uncertainty

May 27, 2022

The Russian invasion of Ukraine has added strain to global supply chains with Russia being a heavyweight in energy markets and both countries important exporters of agricultural products. While in Western countries energy prices are driving inflation, in the Middle East and North Africa food prices are the driver. House prices in Saudi Arabia, the United Arab Emirates, and Qatar have been on the rise recently after years of decline. As the effect...

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GDP Reference Last Previous Units Frequency
Private Consumption 2020 137,881,648,181,744 176,846,303,887,391 IQD Annual
Investment 2020 34,199,606,034,016 41,637,914,977,475 IQD Annual
Government Consumption 2014 41,176,000 47,755,700 Mil. IQD Annual
Price Reference Last Previous Units Frequency
Wholesale Price Index 1977 118.63 111.21 Index 2010 = 100 Annual
Labor Reference Last Previous Units Frequency
Agriculture Employment 2017 1,984,726 1,883,134 # Annual
Labor Force 2017 10,601,039 10,234,985 # Annual
Trade Reference Last Previous Units Frequency
Exports of Goods and Services 2020 64,448,748,567,610 114,597,234,523,556 IQD Annual
Imports of Goods and Services 2020 82,222,942,422,821 109,620,477,278,754 IQD Annual
Markets Reference Last Previous Units Frequency
Monetary Policy Rate May 2017 4 4 % Monthly
Demographics Reference Last Previous Units Frequency
Net Migration 2017 39,171 # Annual
Birth Rate 2016 33.21 33.63 # per Ths. pop. Annual
Death Rate 2016 5.02 5.1 # per Ths. pop. Annual



Formerly part of the Ottoman Empire, Iraq was occupied by the United Kingdom during the course of World War I; in 1920, it was declared a League of Nations mandate under UK administration. In stages over the next dozen years, Iraq attained its independence as a kingdom in 1932. A "republic" was proclaimed in 1958, but in actuality a series of strongmen ruled the country until 2003. The last was SADDAM Husayn from 1979 to 2003. Territorial disputes with Iran led to an inconclusive and costly eight-year war (1980-88). In August 1990, Iraq seized Kuwait but was expelled by US-led UN coalition forces during the Gulf War of January-February 1991. Following Kuwait's liberation, the UN Security Council (UNSC) required Iraq to scrap all weapons of mass destruction and long-range missiles and to allow UN verification inspections. Continued Iraqi noncompliance with UNSC resolutions over a period of 12 years led to the US-led invasion of Iraq in March 2003 and the ouster of the SADDAM Husayn regime. US forces remained in Iraq under a UNSC mandate through 2009 and under a bilateral security agreement thereafter, helping to provide security and to train and mentor Iraqi security forces.
In October 2005, Iraqis approved a constitution in a national referendum and, pursuant to this document, elected a 275-member Council of Representatives (COR) in December 2005. The COR approved most cabinet ministers in May 2006, marking the transition to Iraq's first constitutional government in nearly a half century. Nearly nine years after the start of the Second Gulf War in Iraq, US military operations there ended in mid-December 2011. In January 2009 and April 2013, Iraq held elections for provincial councils in all governorates except for the three comprising the Kurdistan Regional Government and Kirkuk Governorate. Iraq held a national legislative election in March 2010 - choosing 325 legislators in an expanded COR - and, after nine months of deadlock, the COR approved the new government in December 2010. In April 2014, Iraq held a national legislative election and expanded the COR to 328 legislators. Prime Minister Nuri al-MALIKI dropped his bid for a third term in office, enabling new Prime Minister Haydar al-ABADI, a Shia Muslim from Baghdad, to win legislative approval of his new cabinet in September 2014.
Since 2014, Iraq has been engaged in a military campaign against ISIS to recapture territory lost in the western and northern portion of the country. In 2017, Iraqi forces completed operations to retake Mosul and drove ISIS out of its other urban strongholds in Iraq. In late 2017, in response to a KRG referendum, Iraqi forces took control over disputed territories across central and northern Iraq that were previously occupied and governed by Kurdish forces. In December 2017, Abadi publicly declared victory against ISIS amid continued tensions among Iraq’s enthnosectarian groups. Iraqi politicians are preparing to hold the national legislative election again in May 2018 for the 329-member COR and have decided to postpone provincial elections, originally planned for April 2017, to December 2018.


Middle East, bordering the Persian Gulf, between Iran and Kuwait
Geographic coordinates:
33 00 N, 44 00 E
Map references:
Middle East
total: 438,317 sq km
land: 437,367 sq km
water: 950 sq km
country comparison to the world: 60
Area - comparative:
slightly more than three times the size of New York state
Area comparison map:
Land boundaries:
total: 3,809 km
border countries (6): Iran 1,599 km, Jordan 179 km, Kuwait 254 km, Saudi Arabia 811 km, Syria 599 km, Turkey 367 km
58 km
Maritime claims:
territorial sea: 12 nm
continental shelf: not specified
mostly desert; mild to cool winters with dry, hot, cloudless summers; northern mountainous regions along Iranian and Turkish borders experience cold winters with occasionally heavy snows that melt in early spring, sometimes causing extensive flooding in central and southern Iraq
mostly broad plains; reedy marshes along Iranian border in south with large flooded areas; mountains along borders with Iran and Turkey
mean elevation: 312 m
elevation extremes: lowest point: Persian Gulf 0 m
highest point: Cheekha Dar (Kurdish for "Black Tent") 3,611 m
Natural resources:
petroleum, natural gas, phosphates, sulfur
Land use:
agricultural land: 18.1%
arable land 8.4%; permanent crops 0.5%; permanent pasture 9.2%
forest: 1.9%
other: 80% (2011 est.)
Irrigated land:
35,250 sq km (2012)
Population - distribution:
population is concentrated in the north, center, and eastern parts of the country, with many of the larger urban agglomerations found along extensive parts of the Tigris and Euphrates Rivers; much of the western and southern areas are either lightly populated or uninhabited
Natural hazards:
dust storms; sandstorms; floods
Environment - current issues:
government water control projects drained most of the inhabited marsh areas east of An Nasiriyah by drying up or diverting the feeder streams and rivers; a once sizable population of Marsh Arabs, who inhabited these areas for thousands of years, has been displaced; furthermore, the destruction of the natural habitat poses serious threats to the area's wildlife populations; inadequate supplies of potable water; soil degradation (salination) and erosion; desertification; military and industrial infrastructure has released heavy metals and other hazardous substances into the air, soil, and groundwater; major sources of environmental damage are effluents from oil refineries, factory and sewage discharges into rivers, fertilizer and chemical contamination of the soil, and industrial air pollution in urban areas
Environment - international agreements:
party to: Biodiversity, Law of the Sea, Ozone Layer Protection
signed, but not ratified: Environmental Modification
Geography - note:
strategic location on Shatt al Arab waterway and at the head of the Persian Gulf

People & Society

39,192,111 (July 2017 est.)
country comparison to the world: 35
noun: Iraqi(s)
adjective: Iraqi
Ethnic groups:
Arab 75-80%, Kurdish 15-20%, other 5% (includes Turkmen, Yezidi, Shabak, Kaka'i, bedouin, Romani, Assyrian, Circassian, Sabaean-Mandaean, Persian)
note: data is a 1987 government estimate; no more recent reliable numbers are available
Arabic (official), Kurdish (official), Turkmen (a Turkish dialect), Syriac (Neo-Aramaic), and Armenian are official in areas where native speakers of these languages constitute a majority of the population)
Muslim (official) 95-98% (Shia 64-69%, Sunni 29-34%), Christian 1% (includes Catholic, Orthodox, Protestant, Assyrian Church of the East), other 1-4%
note: while there has been voluntary relocation of many Christian families to northern Iraq, recent reporting indicates that the overall Christian population may have dropped by as much as 50% since the fall of the SADDAM Husayn regime in 2003, with many fleeing to Syria, Jordan, and Lebanon (2015 est.)
religious affiliation:
Age structure:
0-14 years: 39.46% (male 7,895,522/female 7,569,205)
15-24 years: 19.25% (male 3,841,375/female 3,702,187)
25-54 years: 33.84% (male 6,704,201/female 6,558,108)
55-64 years: 3.99% (male 752,598/female 812,683)
65 years and over: 3.46% (male 601,937/female 754,295) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 77.7
youth dependency ratio: 72.3
elderly dependency ratio: 5.5
potential support ratio: 18.3 (2015 est.)
Median age:
total: 20 years
male: 19.8 years
female: 20.3 years (2017 est.)
country comparison to the world: 191
Population growth rate:
2.55% (2017 est.)
country comparison to the world: 17
Birth rate:
30.4 births/1,000 population (2017 est.)
country comparison to the world: 37
Death rate:
3.8 deaths/1,000 population (2017 est.)
country comparison to the world: 212
Net migration rate:
-1.2 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 142
Population distribution:
population is concentrated in the north, center, and eastern parts of the country, with many of the larger urban agglomerations found along extensive parts of the Tigris and Euphrates Rivers; much of the western and southern areas are either lightly populated or uninhabited
urban population: 69.7% of total population (2017)
rate of urbanization: 2.97% annual rate of change (2015-20 est.)
Major urban areas - population:
BAGHDAD (capital) 6.643 million; Mosul 1.694 million; Erbil 1.166 million; Basra 1.019 million; As Sulaymaniyah 1.004 million; Najaf 889,000 (2015)
Sex ratio:
at birth: 1.04 male(s)/female
0-14 years: 1.04 male(s)/female
15-24 years: 1.04 male(s)/female
25-54 years: 1.02 male(s)/female
55-64 years: 0.91 male(s)/female
65 years and over: 0.8 male(s)/female
total population: 1.02 male(s)/female (2017 est.)
Maternal mortality ratio:
50 deaths/100,000 live births (2015 est.)
country comparison to the world: 96
Infant mortality rate:
total: 37.5 deaths/1,000 live births
male: 40.6 deaths/1,000 live births
female: 34.2 deaths/1,000 live births (2017 est.)
country comparison to the world: 48
Life expectancy at birth:
total population: 74.9 years
male: 72.6 years
female: 77.2 years (2017 est.)
country comparison to the world: 117
Total fertility rate:
4 children born/woman (2017 est.)
country comparison to the world: 35
Contraceptive prevalence rate:
52.5% (2011)
Health expenditures:
5.5% of GDP (2014)
country comparison to the world: 124
Physicians density:
0.85 physicians/1,000 population (2014)
Hospital bed density:
1.4 beds/1,000 population (2014)
Drinking water source:
urban: 93.8% of population
rural: 70.1% of population
total: 86.6% of population
urban: 6.1% of population
rural: 31.5% of population
total: 14.6% of population (2015 est.)
Sanitation facility access:
urban: 86.4% of population
rural: 83.8% of population
total: 85.6% of population
urban: 13.6% of population
rural: 16.2% of population
total: 14.4% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
HIV/AIDS - people living with HIV/AIDS:
HIV/AIDS - deaths:
Major infectious diseases:
degree of risk: intermediate
food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid fever (2016)
Obesity - adult prevalence rate:
30.4% (2016)
country comparison to the world: 23
Children under the age of 5 years underweight:
8.5% (2011)
country comparison to the world: 74
Education expenditures:
definition: age 15 and over can read and write
total population: 79.7%
male: 85.7%
female: 73.7% (2015 est.)


Country name:
conventional long form: Republic of Iraq
conventional short form: Iraq
local long form: Jumhuriyat al-Iraq/Komar-i Eraq
local short form: Al Iraq/Eraq
etymology: the name probably derives from "Uruk" (Biblical "Erech"), the ancient Sumerian and Babylonian city on the Euphrates River
Government type:
federal parliamentary republic
name: Baghdad
geographic coordinates: 33 20 N, 44 24 E
time difference: UTC+3 (8 hours ahead of Washington, DC, during Standard Time)
Administrative divisions:
18 governorates (muhafazat, singular - muhafazah (Arabic); parezgakan, singular - parezga (Kurdish)) and 1 region*; Al Anbar; Al Basrah; Al Muthanna; Al Qadisiyah (Ad Diwaniyah); An Najaf; Arbil (Erbil) (Arabic), Hewler (Kurdish); As Sulaymaniyah (Arabic), Slemani (Kurdish); Babil; Baghdad; Dahuk (Arabic), Dihok (Kurdish); Dhi Qar; Diyala; Karbala'; Kirkuk; Kurdistan Regional Government*; Maysan; Ninawa; Salah ad Din; Wasit
3 October 1932 (from League of Nations mandate under British administration); note - on 28 June 2004 the Coalition Provisional Authority transferred sovereignty to the Iraqi Interim Government
National holiday:
Independence Day, 3 October (1932); Republic Day, 14 July (1958)
history: several previous; latest adopted by referendum 15 October 2005
amendments: proposed by the president of the republic and the Council of Minsters collectively, or by one-fifth of the Council of Representatives members; passage requires at least a two-thirds majority vote by the Council of Representatives, approval by referendum, and ratification by the president; passage of amendments to articles on citizen rights and liberties requires a two-thirds majority vote of Council of Representatives members after two successive electoral terms, approval in a referendum, and ratification by the president (2016)
Legal system:
mixed legal system of civil and Islamic law
International law organization participation:
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Iraq
dual citizenship recognized: yes
residency requirement for naturalization: 10 years
18 years of age; universal
Executive branch:
chief of state: President Fuad MASUM (since 24 July 2014); Vice Presidents Ayad ALLAWI (since 9 September 2014), Nuri al-MALIKI (since 8 September 2014), Usama al-NUJAYFI (since 9 September 2014)
head of government: Prime Minister Haydar al-ABADI (since 8 September 2014)
cabinet: Council of Ministers proposed by the prime minister, approved by Council of Representatives
elections/appointments: president indirectly elected by Council of Representatives (COR) to serve a 4-year term (eligible for a second term); election last held on 30 April 2014 (next to be held in May 2018); prime minister nominated by the majority COR bloc and submission of COR minister nominees for majority COR approval; disapproval requires designation of a new prime minister candidate
election results: Fuad MASUM elected president; Council of Representatives vote - Fuad MASUM (PUK) 211, Barham SALIH (PUK) 17
Legislative branch:
description: unicameral Council of Representatives or Majlis an-Nuwwab al-Iraqiyy (329 seats; 320 members directly elected in multi-seat constituencies by open-list proportional representation vote and 9 seats at the national level reserved for minorities - 5 for Assyrians, 1 each for Mandaeans, Yazidis, Shabaks, Feyli Kurds; 25% of seats allocated to women; members serve 4-year terms); note - Iraq's constitution calls for the establishment of an upper house, the Federation Council, but it has not been instituted
elections: last held on 12 May 2018 (next to be held in 2022)
election results: percent of vote by party/coalition - NA; seats by party/coalition – Alliance Towards Reform 54, Fatah Alliance 47, Victory coalition 42, KDP 25, State of Law Coalition 25, National Alliance 21, National Wisdom Movement 19, PUK 18, Decision Alliance 14, Anbar Our Identity 6, Gorran Movement 5, New Generation 4, Baghdad Alliance 4, other 43, independent 2
Judicial branch:
highest court(s): Federal Supreme Court or FSC (consists of 9 judges); note - court jurisdiction limited to constitutional issues and disputes between regions or governorates and the central government; Court of Cassation (consists of a court president, 5 vice-presidents, and at least 24 judges)
judge selection and term of office: Federal Supreme Court and Court of Cassation judges selected by the president of the republic from nominees selected by the Supreme Judicial Council (SJC), a 25-member committee of judicial officials that manage the judiciary and prosecutors; FSC members appointed for life; Court of Cassation judges appointed by the SJC and confirmed by the Council of Representatives to serve until retirement nominally at age 63
subordinate courts: Courts of Appeal (governorate level); civil courts including first instance, personal status, labor, and customs; criminal courts including felony, misdemeanor, investigative, major crimes, juvenile, and traffic; religious courts
Political parties and leaders:
Alliance Towards Reform or Sayirun alliance (2018 electoral coalition of Iraqi Communist Party and Sadrist Trend)
Anabar is Our Identity [Mohammad Rikan al-HALBUSI] (a coalition of 5 parties)
Badr Organization [Hadi al-AMIRI]
Da`wa Party [Nuri al-MALIKI]
Decision Alliance or Muttahidoon [Usama al-NUJAYFI]
Duat al-Islam [Khalid al-ASADI]
Fadilah Party [Muhammad al-YAQUBI]
Fatah coalition [Hadi al-AMIRI]
Gorran Party [Omar SAYYID ALI]
Iraq Decision coalition [Usama al-NUJAYFI]
Iraqi Communist Party [Hamid Majid MOUSA]
Islamic Supreme Council of Iraq or ISCI/Muwatin Coalition [Humam HAMOUDI]
Kurdistan Democratic Party or KDP [Masud BARZANI]
Kurdistan Islamic Union or KIU [Salahaddin Muhammad Bahaaeddin SADIQ]
National Reform Trend [Ibrahim al-JAFARI]
National Wisdom Trend [Ammar al-HAKIM]
New Generation Movement [Shaswar Abdulwahid QADIR] (formed in 2018)
Patriotic Union of Kurdistan or PUK [KOSRAT Rasul Ali, acting]
Sadrist Trend [Muqtada al-SADR]
State of Law coalition [Nuri al MALIKI]
Victory coalition [Haydar al-ABADI]
note: Wataniyah coalition [Ayad ALLAWI]
numerous smaller religious, local, tribal, and minority parties
Political pressure groups and leaders:
Sunni militias; Shia militias, some associated with political parties
International organization participation:
Diplomatic representation in the US:
chief of mission: Ambassador Farid YASIN (since 18 January 2017)
chancery: 3421 Massachusetts Avenue, NW, Washington, DC 20007
telephone: [1] (202) 742-1600
FAX: [1] (202) 333-1129
consulate(s) general: Detroit, Los Angeles
Diplomatic representation from the US:
chief of mission: Ambassador Douglas A. SILLIMAN (since 1 September 2016)
embassy: Al-Kindi Street, International Zone, Baghdad
mailing address: APO AE 09316
telephone: 0760-030-3000
Flag description:
three equal horizontal bands of red (top), white, and black; the Takbir (Arabic expression meaning "God is great") in green Arabic script is centered in the white band; the band colors derive from the Arab Liberation flag and represent oppression (black), overcome through bloody struggle (red), to be replaced by a bright future (white); the Council of Representatives approved this flag in 2008 as a compromise temporary replacement for the Ba'thist SADDAM-era flag
note: similar to the flag of Syria, which has two stars but no script; Yemen, which has a plain white band; and that of Egypt, which has a golden Eagle of Saladin centered in the white band
National symbol(s):
golden eagle; national colors: red, white, black
National anthem:
name: "Mawtini" (My Homeland)
lyrics/music: Ibrahim TOUQAN/Mohammad FLAYFEL
note: adopted 2004; following the ouster of SADDAM Husayn, Iraq adopted "Mawtini," a popular folk song throughout the Arab world; also serves as an unofficial anthem of the Palestinian people


Economy - overview:
Iraq's GDP growth slowed to 1.1% in 2017, a marked decline compared to the previous two years as domestic consumption and investment fell because of civil violence and a sluggish oil market. The Iraqi Government received its third tranche of funding from its 2016 Stand-By Arrangement (SBA) with the IMF in August 2017, which is intended to stabilize its finances by encouraging improved fiscal management, needed economic reform, and expenditure reduction. Additionally, in late 2017 Iraq received more than $1.4 billion in financing from international lenders, part of which was generated by issuing a $1 billion bond for reconstruction and rehabilitation in areas liberated from ISIL. Investment and key sector diversification are crucial components to Iraq’s long-term economic development and require a strengthened business climate with enhanced legal and regulatory oversight to bolster private-sector engagement. Sustained improvements in the overall standard of living depend heavily on global oil prices, the central government passage of major policy reforms, a stable security environment post-ISIS, and the resolution of civil discord with the Kurdish Regional Government (KRG).
Iraq's largely state-run economy is dominated by the oil sector, which provides roughly 85% of government revenue and 80% of foreign exchange earnings, and is a major determinant of the economy's fortunes. 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.
In 2017, Iraqi oil exports from northern fields were disrupted following a KRG referendum that resulted in the Iraqi Government reasserting federal control over disputed oil fields and energy infrastructure in Kirkuk. The Iraqi government and the KRG dispute the role of federal and regional authorities in the development and export of natural resources. In 2007, the KRG passed an oil law to develop IKR oil and gas reserves independent of the federal government. The KRG has signed about 50 contracts with foreign energy companies to develop its reserves, some of which lie in territories taken by Baghdad in October 2017. The KRG is able to unilaterally export oil from the fields it retains control of through its own pipeline to Turkey, which Baghdad claims is illegal. In the absence of a national hydrocarbons law, the two sides have entered into five provisional oil- and revenue-sharing deals since 2009, all of which collapsed.
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. 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. 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 local governments. 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. 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.
GDP (purchasing power parity):
$660.7 billion (2017 est.)
$663.7 billion (2016 est.)
$598 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 35
GDP (official exchange rate):
$192.7 billion (2017 est.)
GDP - real growth rate:
-0.4% (2017 est.)
11% (2016 est.)
4.8% (2015 est.)
country comparison to the world: 203
GDP - per capita (PPP):
$17,000 (2017 est.)
$17,500 (2016 est.)
$16,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 103
Gross national saving:
13.4% of GDP (2017 est.)
11.9% of GDP (2016 est.)
18% of GDP (2015 est.)
country comparison to the world: 135
GDP - composition, by end use:
household consumption: 50.4%
government consumption: 18.8%
investment in fixed capital: 23.5%
investment in inventories: -4.5%
exports of goods and services: 39.7%
imports of goods and services: -27.9% (2016 est.)
GDP - composition, by sector of origin:
agriculture: 4.8%
industry: 40.6%
services: 54.6% (2017 est.)
Agriculture - products:
wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry
petroleum, chemicals, textiles, leather, construction materials, food processing, fertilizer, metal fabrication/processing
Industrial production growth rate:
0.8% (2017 est.)
country comparison to the world: 175
Labor force:
8.9 million (2010 est.)
country comparison to the world: 57
Labor force - by occupation:
agriculture: 21.6%
industry: 18.7%
services: 59.8% (2008 est.)
Unemployment rate:
16% (2012 est.)
15% (2010 est.)
country comparison to the world: 175
Population below poverty line:
23% (2014 est.)
Household income or consumption by percentage share:
lowest 10%: 3.6%
highest 10%: 25.7% (2007 est.)
revenues: $63.97 billion
expenditures: $76.35 billion (2017 est.)
Taxes and other revenues:
33.2% of GDP (2017 est.)
country comparison to the world: 67
Budget surplus (+) or deficit (-):
-6.4% of GDP (2017 est.)
country comparison to the world: 181
Public debt:
63.7% of GDP (2016 est.)
55% of GDP (2015 est.)
country comparison to the world: 67
Fiscal year:
calendar year
Inflation rate (consumer prices):
2% (2017 est.)
0.4% (2016 est.)
country comparison to the world: 92
Central bank discount rate:
6% (2016 est.)
6% (2015 est.)
country comparison to the world: 71
Commercial bank prime lending rate:
4% (31 December 2017 est.)
4% (31 December 2016 est.)
country comparison to the world: 160
Stock of narrow money:
$62.01 billion (31 December 2017 est.)
$59.84 billion (31 December 2016 est.)
country comparison to the world: 50
Stock of broad money:
$77.06 billion (31 December 2017 est.)
$74.52 billion (31 December 2016 est.)
country comparison to the world: 62
Stock of domestic credit:
$3.504 billion (31 December 2017 est.)
$3.191 billion (31 December 2016 est.)
country comparison to the world: 135
Market value of publicly traded shares:
$4 billion (9 December 2011 est.)
$2.6 billion (31 July 2010 est.)
$2 billion (31 July 2009 est.)
country comparison to the world: 93
Current account balance:
$-12.22 billion (2017 est.)
$-14.9 billion (2016 est.)
country comparison to the world: 188
$56.74 billion (2017 est.)
$28.36 billion (2016 est.)
country comparison to the world: 48
Exports - commodities:
crude oil 99%, crude materials excluding fuels, food, live animals
Exports - partners:
China 25.4%, India 17.3%, US 14.3%, South Korea 12%, Italy 6.5%, Greece 6.1% (2016)
$36.47 billion (2017 est.)
$19.57 billion (2016 est.)
country comparison to the world: 59
Imports - commodities:
food, medicine, manufactures
Imports - partners:
China 23.5%, Turkey 23%, Iran 20%, South Korea 5%, US 4% (2016)
Reserves of foreign exchange and gold:
$47.02 billion (31 December 2017 est.)
$45.36 billion (31 December 2016 est.)
country comparison to the world: 41
Debt - external:
$73.43 billion (31 December 2017 est.)
$64.16 billion (31 December 2016 est.)
country comparison to the world: 60
Stock of direct foreign investment - at home:
$26.63 billion (2015 est.)
$23.16 billion (2014 est.)
country comparison to the world: 71
Stock of direct foreign investment - abroad:
$2.109 billion (2015 est.)
$1.956 billion (2014 est.)
country comparison to the world: 82
Exchange rates:
Iraqi dinars (IQD) per US dollar -
1,184 (2017 est.)
1,182 (2016 est.)
1,182 (2015 est.)
1,167.63 (2014 est.)
1,213.72 (2013 est.)


Electricity access:
population without electricity: 600,000
electrification - total population: 98%
electrification - urban areas: 99.6%
electrification - rural areas: 95.4% (2013)
Electricity - production:
84 billion kWh (2016 est.)
country comparison to the world: 38
Electricity - consumption:
66 billion kWh (2016 est.)
country comparison to the world: 41
Electricity - exports:
0 kWh (2016 est.)
country comparison to the world: 151
Electricity - imports:
12 billion kWh (2016 est.)
country comparison to the world: 22
Electricity - installed generating capacity:
28 million kW (2017 est.)
country comparison to the world: 35
Electricity - from fossil fuels:
87.3% of total installed capacity (2017 est.)
country comparison to the world: 67
Electricity - from nuclear fuels:
0% of total installed capacity (2017 est.)
country comparison to the world: 115
Electricity - from hydroelectric plants:
6.2% of total installed capacity (2017 est.)
country comparison to the world: 127
Electricity - from other renewable sources:
0% of total installed capacity (2017 est.)
country comparison to the world: 189
Crude oil - production:
4.452 million bbl/day (2016 est.)
country comparison to the world: 4
Crude oil - exports:
2.792 million bbl/day (2015 est.)
country comparison to the world: 3
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 142
Crude oil - proved reserves:
142.5 billion bbl (1 January 2017 est.)
country comparison to the world: 5
Refined petroleum products - production:
484,800 bbl/day (2014 est.)
country comparison to the world: 32
Refined petroleum products - consumption:
850,000 bbl/day (2015 est.)
country comparison to the world: 26
Refined petroleum products - exports:
7,080 bbl/day (2014 est.)
country comparison to the world: 89
Refined petroleum products - imports:
295,300 bbl/day (2014 est.)
country comparison to the world: 26
Natural gas - production:
1.002 billion cu m (2015 est.)
country comparison to the world: 68
Natural gas - consumption:
1.27 billion cu m (2015 est.)
country comparison to the world: 93
Natural gas - exports:
0 cu m (2013 est.)
country comparison to the world: 124
Natural gas - imports:
0 cu m (2013 est.)
country comparison to the world: 141
Natural gas - proved reserves:
3.158 trillion cu m (1 January 2017 est.)
country comparison to the world: 12
Carbon dioxide emissions from consumption of energy:
137 million Mt (2013 est.)
country comparison to the world: 35


Telephones - fixed lines:
total subscriptions: 2.031 million
subscriptions per 100 inhabitants: 5 (July 2016 est.)
country comparison to the world: 58
Telephones - mobile cellular:
total: 30,203,100
subscriptions per 100 inhabitants: 77 (July 2016 est.)
country comparison to the world: 42
Telephone system:
general assessment: the 2003 liberation of Iraq severely disrupted telecommunications throughout Iraq; widespread government efforts to rebuild domestic and international communications have slowed due to the conflict with ISIS/ISIL
domestic: the mobile cellular market continues to expand (cell phones were banned prior to 2003 under the SADDAM regime); 3G services offered by three major mobile operators in 2015; conflict has destroyed infrastructure in areas
international: country code - 964; satellite earth stations - 4 (2 Intelsat - 1 Atlantic Ocean and 1 Indian Ocean, 1 Intersputnik - Atlantic Ocean region, and 1 Arabsat (inoperative)); local microwave radio relay connects border regions to Jordan, Kuwait, Syria, and Turkey; international terrestrial fiber-optic connections have been established with Saudi Arabia, Turkey, Kuwait, Jordan, and Iran; links to the Fiber-Optic Link Around the Globe (FLAG) and the Gulf Bridge International (GBI) submarine fiber-optic cables have been established (2017)
Broadcast media:
the number of private radio and TV stations has increased rapidly since 2003; government-owned TV and radio stations are operated by the publicly funded Iraqi Media Network; private broadcast media are mostly linked to political, ethnic, or religious groups; satellite TV is available to an estimated 70% of viewers and many of the broadcasters are based abroad; transmissions of multiple international radio broadcasters are accessible (2015)
Internet country code:
Internet users:
total: 8,098,401
percent of population: 21.2% (July 2016 est.)
country comparison to the world: 54


National air transport system:
number of registered air carriers: 4
inventory of registered aircraft operated by air carriers: 39
annual passenger traffic on registered air carriers: 484,803
annual freight traffic on registered air carriers: 10,758,230 mt-km (2015)
Civil aircraft registration country code prefix:
YI (2016)
102 (2013)
country comparison to the world: 55
Airports - with paved runways:
total: 72
over 3,047 m: 20
2,438 to 3,047 m: 34
1,524 to 2,437 m: 4
914 to 1,523 m: 7
under 914 m: 7 (2017)
Airports - with unpaved runways:
total: 30
over 3,047 m: 3
2,438 to 3,047 m: 5
1,524 to 2,437 m: 3
914 to 1,523 m: 13
under 914 m: 6 (2013)
16 (2013)
gas 2,455 km; liquid petroleum gas 913 km; oil 5,432 km; refined products 1,637 km (2013)
total: 2,272 km
standard gauge: 2,272 km 1.435-m gauge (2014)
country comparison to the world: 69
total: 59,623 km
paved: 59,623 km (includes Kurdistan Region) (2012)
country comparison to the world: 71
5,279 km (the Euphrates River (2,815 km), Tigris River (1,899 km), and Third River (565 km) are the principal waterways) (2012)
country comparison to the world: 22
Merchant marine:
total: 77
by type: general cargo 1, oil tanker 6, other 70 (2017)
country comparison to the world: 100
Ports and terminals:
river port(s): Al Basrah (Shatt al-'Arab); Khawr az Zubayr, Umm Qasr (Khawr az Zubayr waterway)

Military & Security

Military expenditures:
3.63% of GDP (2016)
5.35% of GDP (2015)
2.95% of GDP (2014)
3.32% of GDP (2013)
1.9% of GDP (2012)
country comparison to the world: 18
Military branches:
Ministry of Defense: Iraqi Army (includes Army Aviation Directorate), Iraqi Navy, Iraqi Air Force; National-Level Security Forces: Iraqi Counterterrorism Service, Iraqi Federal Police (includes Emergency Response Division), Iraqi Border Guard Force, Popular Mobilization Committee Forces (2017)
Military service age and obligation:
18-40 years of age for voluntary military service; no conscription (2017)

Transnational Issues

Disputes - international:
Iraq's lack of a maritime boundary with Iran prompts jurisdiction disputes beyond the mouth of the Shatt al Arab in the Persian Gulf; Turkey has expressed concern over the autonomous status of Kurds in Iraq
Refugees and internally displaced persons:
refugees (country of origin): 15,692 (Turkey); 7,703 (West Bank and Gaza Strip); 7,545 (Iran) (2016); 249,641 (Syria) (2018)
IDPs: 3,159,380 (includes displacement between 2006 and 2008 due to ethno-sectarian violence and displacement in central and northern Iraq since January 2014) (2018)
stateless persons: 48,200 (2016); note - in the 1970s and 1980s under SADDAM Husayn's regime, thousands of Iraq's Faili Kurds, followers of Shia Islam, were stripped of their Iraqi citizenship, had their property seized by the government, and many were deported; some Faili Kurds had their citizenship reinstated under the 2006 Iraqi Nationality Law, but others lack the documentation to prove their Iraqi origins; some Palestinian refugees persecuted by the SADDAM regime remain stateless
note: estimate revised to reflect the reduction of statelessness in line with Law 26 of 2006, which allows stateless persons to apply for nationality in certain circumstances; more accurate studies of statelessness in Iraq are pending (2015)

Economic Indicators for Iraq including actual values, historical data, and latest data updates for the Iraq economy.