Current Account in Iraq
Iraq - Current AccountRecent 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
|Current Account (% of GDP)||-1.7||1.3||7.8||16.2||7.1|
5 years of economic forecasts for more than 30 economic indicators.
Iraq Current Account Chart
Source: World Bank. and FocusEconomics calculations
|Exchange Rate||1,194||0.0 %||Jan 01|
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