GDP in Iraq

Iraq GDP | Economic News & Forecasts

Iraq - GDP

The economy’s performance in H2 last year was likely much improved relative to H1, due to oil output being ramped up considerably as OPEC+ curtailments were eased. In November, oil production hit the highest level in over a year and a half. Meanwhile, elevated energy prices in H2 will have buoyed government coffers, while a series of investment deals clinched with foreign firms in the period bode well for the energy sector ahead. However, electricity shortages likely limited non-oil activity somewhat. In politics, in December the supreme court ratified the results of the October general elections, which saw cleric al-Sadr’s political movement increase its seat haul at the expense of Iran-backed parties. That said, government formation could still take some time due to the fractured nature of the parliament.

Iraq - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)2.6  13.8  -3.8  0.9  4.4  

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Iraq GDP Chart


Iraq GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: World Bank and FocusEconomics calculations

Iraq Facts

Value Change Date
Exchange Rate1,1940.0 %Jan 01

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