World Factbook

Iraq

Jumhuriyat al-Iraq/Komar-i Eraq

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$90.204 billion (2019 est.)

expenditures

$64.512 billion (2019 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2021

$78.26 billion (2021 est.)

Exports 2022

$127.079 billion (2022 est.)

Exports 2023

$107.852 billion (2023 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2021

$50.707 billion (2021 est.)

Imports 2022

$69.162 billion (2022 est.)

Imports 2023

$81.179 billion (2023 est.)

Industries

petroleum, chemicals, textiles, leather, construction materials, food processing, fertilizer, metal fabrication/processing

Labor force

12.008 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2018

27.4% of GDP (2018 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2021

0.4% of GDP (2021 est.)

Remittances 2022

0.4% of GDP (2022 est.)

Remittances 2023

0.4% of GDP (2023 est.)

Exchange rates

Currency

Iraqi dinars (IQD) per US dollar -

Exchange rates 2020

1,192 (2020 est.)

Exchange rates 2021

1,450 (2021 est.)

Exchange rates 2022

1,450 (2022 est.)

Exchange rates 2023

1,312.5 (2023 est.)

Exchange rates 2024

1,300 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$15.58 billion (2023 est.)

Economic overview

highly oil-dependent Middle Eastern economy; fiscal sustainability subject to fluctuation in oil prices; rising public confidence in economic conditions; import-dependent for most sectors; persistent challenges of corruption, informal markets, banking access, and political fragility

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

15.6% (2022 est.)

Unemployment rate 2023

15.5% (2023 est.)

Unemployment rate 2024

15.6% (2024 est.)

Exports - partners

China 33%, India 28%, USA 8%, Greece 5%, UAE 5% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

UAE 32%, China 20%, Turkey 18%, India 5%, USA 2% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$13,400 (2022 est.)

Real GDP per capita 2023

$13,200 (2023 est.)

Real GDP per capita 2024

$12,700 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

8% (2022 est.)

Real GDP growth rate 2023

0.5% (2023 est.)

Real GDP growth rate 2024

-1.5% (2024 est.)

Agricultural products

wheat, dates, maize, tomatoes, rye, grapes, milk, chicken, potatoes, fruits (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

crude petroleum, refined petroleum, petroleum coke, gold, natural gas (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, cars, broadcasting equipment, jewelry, gold (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2021

$24.565 billion (2021 est.)

Current account balance 2022

$58.01 billion (2022 est.)

Current account balance 2023

$28.375 billion (2023 est.)

Taxes and other revenues

1.3% (of GDP) (2019 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$279.641 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

41.2% (2024 est.)

government consumption

20.3% (2024 est.)

investment in inventories

8.8% (2024 est.)

investment in fixed capital

20.6% (2024 est.)

exports of goods and services

37.5% (2024 est.)

imports of goods and services

-37.2% (2024 est.)

Average household expenditures

on food

28.7% of household expenditures (2023 est.)

on alcohol and tobacco

4.3% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2021

6% (2021 est.)

Inflation rate (consumer prices) 2022

5% (2022 est.)

Inflation rate (consumer prices) 2023

4.4% (2023 est.)

Industrial production growth rate

-2.7% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$592.017 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$595.082 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$585.887 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

27.5% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

32.1% (2024 est.)

female

62.7% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$97.009 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$112.233 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$100.691 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

51.6% (2024 est.)

services

45.8% (2024 est.)

agriculture

3.4% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

3.7% (2023 est.)

highest 10%

24.2% (2023 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2023

29.8 (2023 est.)