[ Nominal GDP in billions of USD ]
Year -
$279.64 billions
Iraq GDP expanded from 1960 to 2024, increasing from $1.54 billion to $279.64 billion.The compound annual growth rate (CAGR) averaged 8.47% over the period. The economy recorded its peak level in 2022 and its lowest level in 1991. Growth volatility remained high. The maximum drawdown reached 99.77%, indicating the largest cyclical decline from peak levels. The country experienced 11 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 279.64 Billions | $ 665.97 Int Billions |
| Growth (YoY) | 4.002% | 0.835% |
| Net Change vs Previous Year | $ 10.76 Billion | $ 5.52 Int Billion |
| % of World GDP | 0.25% | 0.34% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | 1.54 | - | - | - | - | - |
| 1961 | 1.67 | 0.13 | 8.763 % | - | - | - |
| 1962 | 1.78 | 0.11 | 6.711 % | - | - | - |
| 1963 | 1.81 | 0.02 | 1.218 % | - | - | - |
| 1964 | 2.14 | 0.33 | 18.301 % | - | - | - |
| 1965 | 2.34 | 0.2 | 9.332 % | - | - | - |
| 1966 | 2.53 | 0.19 | 8.328 % | - | - | - |
| 1967 | 2.55 | 0.02 | 0.838 % | - | - | - |
| 1968 | 2.9 | 0.35 | 13.524 % | - | - | - |
| 1969 | 3.01 | 0.11 | 3.838 % | - | - | - |
| 1970 | 3.28 | 0.27 | 9.095 % | - | - | - |
| 1971 | 3.87 | 0.58 | 17.799 % | - | - | - |
| 1972 | 4.11 | 0.25 | 6.429 % | - | - | - |
| 1973 | 5.13 | 1.02 | 24.807 % | - | - | - |
| 1974 | 11.52 | 6.38 | 124.307 % | - | - | - |
| 1975 | 13.46 | 1.94 | 16.86 % | - | - | - |
| 1976 | 17.75 | 4.3 | 31.923 % | - | - | - |
| 1977 | 19.84 | 2.08 | 11.734 % | - | - | - |
| 1978 | 23.76 | 3.92 | 19.781 % | - | - | - |
| 1979 | 37.82 | 14.05 | 59.145 % | - | - | - |
| 1980 | 52.57 | 14.75 | 39.011 % | - | - | - |
| 1981 | 37.82 | -14.75 | -28.051 % | - | - | - |
| 1982 | 42.38 | 4.56 | 12.054 % | - | - | - |
| 1983 | 40.71 | -1.67 | -3.939 % | - | - | - |
| 1984 | 46.94 | 6.23 | 15.291 % | - | - | - |
| 1985 | 48.43 | 1.49 | 3.168 % | - | - | - |
| 1986 | 47.26 | -1.16 | -2.397 % | - | - | - |
| 1987 | 56.77 | 9.51 | 20.12 % | - | - | - |
| 1988 | 62.68 | 5.91 | 10.41 % | - | - | - |
| 1989 | 65.83 | 3.15 | 5.021 % | - | - | - |
| 1990 | 180.41 | 114.58 | 174.043 % | - | - | - |
| 1991 | 0.41 | -180 | -99.774 % | 47.87 | - | - |
| 1992 | 0.55 | 0.15 | 35.772 % | 64.91 | 17.05 | 35.614 % |
| 1993 | 1.03 | 0.48 | 86.382 % | 86.58 | 21.67 | 33.378 % |
| 1994 | 3.99 | 2.96 | 286.779 % | 91.84 | 5.26 | 6.072 % |
| 1995 | 12.89 | 8.9 | 223.049 % | 95.75 | 3.91 | 4.261 % |
| 1996 | 10.43 | -2.46 | -19.081 % | 108.25 | 12.5 | 13.053 % |
| 1997 | 20.76 | 10.33 | 99.017 % | 133.5 | 25.25 | 23.329 % |
| 1998 | 20.62 | -0.15 | -0.71 % | 182.25 | 48.75 | 36.518 % |
| 1999 | 36.88 | 16.26 | 78.886 % | 217.33 | 35.07 | 19.244 % |
| 2000 | 48.36 | 11.48 | 31.134 % | 259.58 | 42.25 | 19.442 % |
| 2001 | 36.18 | -12.19 | -25.2 % | 270.11 | 10.53 | 4.058 % |
| 2002 | 32.93 | -3.25 | -8.978 % | 251.81 | -18.31 | -6.777 % |
| 2003 | 21.92 | -11.01 | -33.427 % | 162.65 | -89.15 | -35.406 % |
| 2004 | 36.63 | 14.71 | 67.112 % | 256.19 | 93.54 | 57.51 % |
| 2005 | 50.07 | 13.43 | 36.664 % | 268.65 | 12.46 | 4.864 % |
| 2006 | 65.15 | 15.08 | 30.125 % | 292.55 | 23.9 | 8.896 % |
| 2007 | 88.84 | 23.69 | 36.364 % | 306.15 | 13.6 | 4.649 % |
| 2008 | 131.61 | 42.78 | 48.152 % | 337.73 | 31.58 | 10.314 % |
| 2009 | 111.66 | -19.96 | -15.163 % | 351.29 | 13.57 | 4.017 % |
| 2010 | 138.52 | 26.86 | 24.055 % | 378.33 | 27.03 | 7.696 % |
| 2011 | 185.75 | 47.23 | 34.099 % | 415.27 | 36.94 | 9.765 % |
| 2012 | 218 | 32.25 | 17.363 % | 484.7 | 69.43 | 16.719 % |
| 2013 | 234.64 | 16.64 | 7.631 % | 517.54 | 32.84 | 6.775 % |
| 2014 | 228.42 | -6.22 | -2.652 % | 481.3 | -36.24 | -7.001 % |
| 2015 | 166.77 | -61.64 | -26.987 % | 350.61 | -130.69 | -27.154 % |
| 2016 | 166.74 | -0.03 | -0.018 % | 349.27 | -1.34 | -0.381 % |
| 2017 | 187.22 | 20.47 | 12.279 % | 400.91 | 51.64 | 14.786 % |
| 2018 | 227.37 | 40.15 | 21.445 % | 484.57 | 83.66 | 20.867 % |
| 2019 | 233.64 | 6.27 | 2.757 % | 504.55 | 19.97 | 4.122 % |
| 2020 | 180.9 | -52.74 | -22.572 % | 445.34 | -59.21 | -11.735 % |
| 2021 | 209.69 | 28.79 | 15.917 % | 548.37 | 103.03 | 23.136 % |
| 2022 | 287.37 | 77.68 | 37.045 % | 634.23 | 85.85 | 15.656 % |
| 2023 | 268.88 | -18.49 | -6.435 % | 660.45 | 26.22 | 4.135 % |
| 2024 | 279.64 | 10.76 | 4.002 % | 665.97 | 5.52 | 0.835 % |
Between 1960 to 2024, Iraq experienced the following economic phases:
The most remarkable growth occurred in 1994 with an increase of 286.779%, while the largest decline was in 1991 at -99.774%.