Industry in Iraq

Iraq Industry | Economic News & Forecasts

Iraq - Industry

The economy slowed in Q3 according to recent data. The all-important oil sector lost steam as output growth ebbed amid a tough base effect from the prior year. Moreover, the non-oil sector also expanded at a weaker pace. Turning to Q4, the economy should have softened further. Oil production contracted in annual terms in October–November according to EIA data, while widespread protests likely hurt business sentiment and non-oil activity. In politics, in response to the protests, Prime Minister Adel Abdul-Mahdi announced his resignation at end-November, although he remains in a caretaker capacity as a new government has yet to be formed. On the external front, the recent dramatic escalation in tensions between the U.S. and Iran poses a significant security risk to Iraq. Taken together, the fragile domestic political panorama and U.S.-Iran tensions will likely dampen activity in the near term.

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

Value Change Date
Exchange Rate1,1940.0 %Jan 01

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