Current Account in Iraq
Iraq - Current AccountThe economy has likely performed fairly well so far this year. Oil output was up markedly in annual terms in Q1, despite OPEC-mandated production cuts, while oil exports in April netted the government around USD 7 billion—the highest monthly figure so far this year—thanks to the recent uptick in oil prices. In addition, economic agreements reached in recent months with Jordan and Russia are likely supporting business confidence. This comes after preliminary data from the statistical office showed that the economy unexpectedly contracted in 2018 on the back of a decline in the oil sector and stagnation in the non-oil sector. On the political front, Saudi Arabia pledged USD 1 billion in financial support in early April and reopened a consulate in Baghdad, which bodes well for future trade ties.
Iraq - Current Account Data
|Current Account (% of GDP)||9.6||10.2||-1.1||2.1||-|
5 years of economic forecasts for more than 30 economic indicators.
Iraq Current Account Chart
Source: World Bank. and FocusEconomics calculations
|Exchange Rate||1,193||0.0 %||May 13|
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