Current Account in Iraq

Iraq Current Account | Economic News & Forecasts

Iraq - Current Account

Although the economy seems to have gained impetus in Q4 2018 due to higher oil production, OPEC supply cuts have weighed on production since, which could undermine the recovery ahead. According to OPEC data, Iraq pumped 4.7 million barrels per day (mbpd) in January, down almost 0.5 mbpd from December’s level but still above the 4.5 mbpd agreed upon. That being said, a tighter global oil market is pushing up oil prices, which could help replenish Iraq’s coffers somewhat. Meanwhile, France allocated a USD 1.15 billion loan to assist in the reconstruction of the region, with French companies expected to participate in Iraqi efforts to rebuild next quarter.

Iraq - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)9.6  10.2  -1.1  2.1  -     

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Iraq Current Account Chart

Iraq Current Account
Note: Current account balance as % of GDP.
Source: World Bank. and FocusEconomics calculations

Iraq Facts

Exchange Rate1,1930.0 %Mar 11

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