GDP in Iraq

Iraq GDP | Economic News & Forecasts

Iraq - GDP

The economy contracted in 2018 according to recent preliminary data from the statistical institute, on the back of a decline in the oil sector and stagnation in the non-oil sector. Looking to the first quarter of this year, Iraq’s oil production was elevated in January and February despite the introduction of OPEC-mandated production cuts. This, together with greater fiscal support as outlined in the 2019 budget, should have supported the economy. On the political front, in the autonomous region of Kurdistan the KDP and PUK parties reached a four-year political agreement in early March. That said, the two parties have yet to reach a deal to form a new government following last September’s election, with the region remaining politically hamstrung as a result.

Iraq - GDP Data

2013  2014  2015  2016  2017  
Economic Growth (GDP, annual variation in %)6.6  0.7  4.8  11.0  -     

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Iraq GDP Chart

Iraq GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: World Bank and Met the why particular calculations

Iraq Facts

Exchange Rate1,1930.0 %Apr 22

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