Iraq's New Prime Minister Under Scrutiny
The new prime minister’s resolve to tackle runaway government salaries faces an early test.
Iraq GDP and Economic Data
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.
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Real GDP growth
| 2017 | 2018 | 2019 | 2020* | 2021* |
| -3.4% | 4.7% | 5.8% | -15.7% | 3.6% |
*Estimate
Source
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GDP - composition by sector
- agriculture: 6.1%
- industry: 44.4%
- services: 50.8%
(2016 estimate)
Inflation
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 0.2% | 0.4% | -0.2% | 0.6% | .64% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 59.1% | 47.8% | 45.1% | 84.2% | 59.4% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| -0.5% | 9.1% | 1.8% | -11.52% | -0.5% |
*Estimate
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Government bond ratings
Standard & Poor's: B–
Moody's: Caa1
Standard & Poor's / Moody's (Updated January 2017)
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Exports as percent of GDP (Exports of goods and services)
37.8% (2019)
Shares in world total merchandising export
0.24% (2020)
Shares in world total commercial services export
0.07% (2020)
Export commodities
Crude petroleum, refined petroleum, gold, dates, petroleum coke (2019)
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Import commodities
Refined petroleum, broadcasting equipment, cars, jewelry, cigarettes (2019)
Exports - major partners
China 26%, India 24%, South Korea 9%, United States 8%, Italy 6%, Greece 6% (2019)
Imports - major partners
United Arab Emirates 28%, Turkey 21%, China 19% (2019)
FDI inflows
| 2018 | 2019 | 2020 |
| USD -4,885 million | USD -3,076million | USD -2,896 million |
FDI outflows
| 2018 | 2019 | 2020 |
| USD 188 million | USD 194 million | USD 149 million |
Value of cross-border M&A, by country of purchaser
N/A
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 172 out of 190 countries (2020)
Subcategories:
Starting a Business: 154 out of 190 countries
Dealing with Construction Permits: 103 out of 190 countries
Getting Electricity: 131 out of 190 countries
Registering Property: 121 out of 190 countries
Getting Credit: 186 out of 190 countries
Protecting Minority Investors: 111 out of 190 countries
Paying Taxes: 131 out of 190 countries
Trading across Borders: 181 out of 190 countries
Enforcing Contracts: 147 out of 190 countries
Resolving Insolvency: 168 out of 190 countries
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Languages
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
Religions
Muslim (official) 95-98% (Shia 61-64%, Sunni 29-34%), Christian 1% (includes Catholic, Orthodox, Protestant, Assyrian Church of the East), other 1-4% (2015 est.)
Total population
| 1990 | 2000 | 2010 | 2015* | 2020* |
| N/A | N/A | 30.962 million | 36.067 million | 40.959 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 43% | 66% | 69% | 70% |
Literacy
Total population: 79.7%
Male: 85.7%
Female: 73.7% (2015 est.)
(age 15 and over can read and write)
% of population living on less than $3.10 a day
0.1% (2013)
Freedom House rating
Political Rights: 5
Civil Liberties: 6 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 5.58% Mobile 93.83% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)