GDP in Iraq

Iraq GDP | Economic News & Forecasts

Iraq - GDP

The economy likely lost steam in the fourth quarter. Oil production was down 2.4% year-on-year in the period according to EIA data, due in part to a temporary outage at the Rumaila field and as the country strengthened compliance with OPEC+ production cuts. Moreover, prolonged protests likely dented non-oil activity. This comes after a slowdown in Q3 on the back of weaker expansions in both the oil and non-oil sectors. On the political front, Mohammed Tawfiq Allawi was recently appointed as prime minister, several months after former Prime Minister Adel Abdul-Mahdi resigned over the government’s handling of the protests. Allawi must now form a cabinet and prepare for fresh elections, although a firm date for the vote has yet to be announced. The economic panorama is unlikely to change significantly, and anti-government protests look set to rumble on.

Iraq - GDP Data

2014   2015   2016   2017   2018  
Economic Growth (GDP, annual variation in %)2.3  1.7  9.6  0.8  -1.0  

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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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