Iraq has the world's fifth largest petroleum reserves and it is also its most valuable mineral. Oil contributes the largest portion of GDP and constitutes most of Iraq's foreign exchange. It has traditionally provided about 95% of foreign exchange earnings.
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The economy of Iraq is dominated by the oil sector, which has provided about 99.7% of foreign exchange earnings during its modern history.
Iraq
Country in the Middle East
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Iraq, officially the Republic of Iraq, is a country in West Asia and in the geopolitical region known as the Middle East. With a population of over 46 million, it is the 33rd-most populous country. It is a federal parliamentary republic that... Wikipedia
GDP growth rate: 7.0% annual change (2022)
Gross domestic product: 264.2 billion USD (2022)
GDP per capita: 5,937.20 USD (2022)
Gross national income: 481.7 billion PPP dollars (2022)
GNI per capita: 10,830 PPP dollars (2022)
Internet users: 78.7% of the population (2022)
Currency: Iraqi Dinar
Source: World Bank
Iraq is one of the most oil‑dependent countries in the world. Over the last decade, oil revenues have accounted for more than 99% of exports, 85% of the ...
Feb 16, 2024 · ... Iraq (55%) to believe the economy is getting better. Iraqi Kurdistan is also significantly less positive about the local job market (23 ...
As Iraq's economy is heavily reliant on oil export earnings, real GDP performance will closely track oil market movements throughout the 2024-28 forecast period ...