GDP in Iraq
Iraq - GDPIraq’s apparent inability to curtail its oil production is becoming a thorn in OPEC’s side as the cartel attempts to alleviate the oversupply in the global crude market. Although the country, initially reluctant to accept any cut in oil output, finally agreed in late November to reduce production by 4.0%, government records showed a week later that Iraq was actually preparing to boost oil exports by 7.0% in January. The government, however, has used the autonomous Kurdish region as a scapegoat, blaming the region for exporting more than double its allocated share of oil. On a better note, on 20 December the World Bank endorsed a new USD 1.5 billion aid package to the war-torn country to help it cope with both security operations in Mosul and low oil prices.
Iraq - GDP Data
|Economic Growth (GDP, annual variation in %)||7.5||13.9||6.6||-2.1||-|
5 years of economic forecasts for more than 30 economic indicators.
Note: Annual variation of gross domestic product (GDP) in %.
Iraq GDP Chart
Source: World Bank and FocusEconomics calculations
|Exchange Rate||1,182||-2.35 %||Jan 20|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.