Industry in Iraq

Iraq Industry | Economic News & Forecasts

Iraq - Industry

The economy grew strongly in H1 2018 thanks to elevated oil output and prices in anticipation of punitive U.S. sanctions imposed on Iranian exports. Oil production remained strong in the third quarter, boding well for sustained economic growth. However, oil revenues are likely to moderate going forward after President Donald Trump unexpectedly granted waivers to key buyers of Iranian oil. This, coupled with sustained booming U.S. production, have both significantly weighed on prices in recent weeks, although a likely OPEC output cut should stabilize prices. Meanwhile in the political arena, discussions on filling vacant ministerial posts continued in late November, further delaying the government’s ability to implement reforms to support the economy after years of armed conflict.

Iraq - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)5.0  6.7  22.2  8.0  -     

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Iraq Industry Chart

Iraq Industry
Note: Annual variation of industrial production in %.
Source: IMF.

Iraq Facts

Exchange Rate1,1930.0 %Dec 14

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