GDP in Iraq

Iraq GDP | Economic News & Forecasts

Iraq - GDP

Iraq seems to have shrugged off concerns over its ability or willingness to reduce crude production by 210,000 barrels per day. Oil minister Jabar Ali al-Luaibi announced in late January that the country was complying with OPEC’s plan, noting that it had already cut output by 180,000 barrels and planned to cut the remaining amount before the end of the month. The bulk of these cuts have been made at the southern fields, where multiple oil rigs have brought forward maintenance work. The question remains however as to whether the reduction will be sustained for long enough for it to have a significant effect on prices. Iraq is coping both with security operations in Mosul and efforts to restore its oil industry, which could prompt its authorities to increase oil production again before the OPEC deal expires in June.

Iraq - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)7.5  13.9  6.6  -2.1  -     

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Iraq GDP Chart

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

Iraq Facts

Exchange Rate1,179-1.69 %Feb 16

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