GDP in Iraq

Iraq GDP | Economic News & Forecasts

Iraq - GDP

Iraq’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

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 Rate1,182-2.35 %Jan 20

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