GDP in Iraq
Iraq - GDPIraq 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
|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||1,179||-1.69 %||Feb 16|
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