Current Account in Iraq

Iraq Current Account | Economic News & Forecasts

Iraq - Current Account

Recent data shows that the economy returned to growth in annual terms in Q2, aided by a large expansion in the non-energy sector and a much softer downturn in the energy sector. The improvement likely continued in Q3, with oil output ramping up as OPEC+ curtailments were eased, although electricity shortages amid a summer heatwave could have weighed on the non-energy sector. Turning to the final quarter, oil production picked up further in October, marking the highest reading in over a year. Moreover, a host of recent deals with foreign firms bode well for future energy output. In politics, a new government is yet to be formed following the October elections, and tensions have risen due to the Iran-backed parties’ decision to contest the results, as well as a recent assassination attempt on the incumbent prime minister.

Iraq - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-1.7  1.3  7.8  16.2  7.1  

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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

Value Change Date
Exchange Rate1,1940.0 %Jan 01

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