Current Account in Iraq

Iraq Current Account | Economic News & Forecasts

Iraq - Current Account

The economy likely performed well in the second quarter. Oil production was up roughly 6% year-on-year in the period according to EIA data, boding well for the energy sector. Moreover, the non-oil sector should be benefiting from the loose fiscal stance and stronger electricity generation. This comes after the economy bounced back in the first quarter according to Statistical Institute data, driven by expansions in the oil and non-oil sectors. Less positively, security concerns are elevated amid intensifying U.S.-Iran and Israel-Iran tensions, which could hurt business investment. In particular, Iran-backed Iraqi paramilitary groups were targeted via air strikes in late August, with Iraqi authorities blaming Israel for the attacks. In late July, the IMF concluded a staff visit, with the Fund warning of worsening fiscal and external metrics without reform efforts.

Iraq - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)1.1  2.6  -6.4  -7.8  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 %Sep 04

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