Iraq GDP Trends from 1998 to 2024: A overall increase with some decline Flow

Iraq's GDP changed from approximately $10B 469M in 1998 to $265B 894M in 2024, showing an overall 2439.8% sharply increased during the period.
The lowest GDP was recorded in 1998 at $10B 469M, and the highest in 2024 at $265B 894M.
Over the 26-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 13.2%.
For comparison, the average annual growth rate of Iran was 3.7%, and that of Saudi Arabia was 4.4%.

Overview of Iraq's GDP (1998–2024)

The Gross Domestic Product (GDP) of Iraq recorded a 2439.8% sharply increased from 1998 to 2024.
The average GDP during this period was $139B 666M, and the median was $167B 807M.
GDP fluctuated within a range of $255B 425M, with a standard deviation of $90B 757M.
The average annual change was $10B 685M.


Iraq GDP from 1998 to 2024

The total market value of goods and services produced annually in Iraq.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1998, $10B 469M
    • Highest GDP: 2024, $265B 894M
    • Most Recent GDP: 2024, $265B 894M

    Notable Annual GDP Changes

    • 2022: Significant increase in GDP
    • 2015: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Iraq's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $232B 558M → $181B 402M
    • Outcome: sharply declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $88B 833M → $111B 660M
    • Outcome: sharply increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $25B 857M → $18B 936M
    • Outcome: sharply declined

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $0 → $10B 469M
    • Outcome: remained stable

    Key Economic Indicators of Iraq (1998–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1998
    $ 10B 469M
    $ 0
    $ 0
    $ 79B 249M
    0 %
    0 %
    0 %
    0 %
    0 person
    1999
    $ 18B 449M
    $ 0
    $ 0
    $ 100B 264M
    24.752 %
    0 %
    0 %
    0 %
    0 person
    2000
    $ 25B 857M
    $ 0
    $ 0
    $ 98B 84M
    -4.341 %
    0 %
    0 %
    0 %
    0 person
    2001
    $ 18B 936M
    $ 0
    $ 0
    $ 93B 704M
    -6.569 %
    2.186 %
    0 %
    0 %
    0 person
    2002
    $ 18B 970M
    $ 0
    $ 0
    $ 87B 741M
    -7.797 %
    -2.036 %
    0 %
    0 %
    0 person
    2003
    $ 15B 800M
    $ 608.65
    $ 6,265.54
    $ 162B 650M
    81.787 %
    -10.652 %
    0 %
    0 %
    25M 960K people
    2004
    $ 36B 642M
    $ 1,373.74
    $ 9,604.67
    $ 256B 190M
    53.386 %
    -24.047 %
    −1.95 %
    -34.907 %
    26M 674K people
    2005
    $ 50B 65M
    $ 1,828.74
    $ 9,812.99
    $ 268B 651M
    1.675 %
    8.688 %
    30.79 %
    3.92 %
    27M 377K people
    2006
    $ 65B 144M
    $ 2,321.26
    $ 10,424.35
    $ 292B 550M
    5.638 %
    3.232 %
    25.33 %
    10.729 %
    28M 64K people
    2007
    $ 88B 833M
    $ 3,090.85
    $ 10,652.19
    $ 306B 151M
    1.889 %
    -3.388 %
    18.71 %
    9.488 %
    28M 741K people
    2008
    $ 131B 614M
    $ 4,472.12
    $ 11,475.57
    $ 337B 724M
    8.228 %
    12.699 %
    34.80 %
    -0.981 %
    29M 430K people
    2009
    $ 111B 660M
    $ 3,701.86
    $ 11,646.31
    $ 351B 290M
    3.379 %
    -11.522 %
    10.58 %
    -14.761 %
    30M 163K people
    2010
    $ 138B 517M
    $ 4,473.71
    $ 12,218.84
    $ 378B 324M
    6.403 %
    1.636 %
    23.74 %
    -3.692 %
    30M 962K people
    2011
    $ 185B 750M
    $ 5,848.54
    $ 13,075.22
    $ 415B 269M
    7.546 %
    10.879 %
    32.98 %
    5.461 %
    31M 760K people
    2012
    $ 218B 32M
    $ 6,692.58
    $ 14,843.03
    $ 483B 559M
    13.936 %
    5.058 %
    27.16 %
    4.458 %
    32M 578K people
    2013
    $ 234B 638M
    $ 7,021.41
    $ 15,414.28
    $ 515B 106M
    7.628 %
    1.143 %
    28.33 %
    -5.702 %
    33M 417K people
    2014
    $ 234B 651M
    $ 6,704.31
    $ 14,027.48
    $ 490B 962M
    0.738 %
    2.602 %
    28.57 %
    -5.374 %
    35M people
    2015
    $ 177B 634M
    $ 5,044.62
    $ 10,493.95
    $ 369B 519M
    2.537 %
    -6.952 %
    17.98 %
    -12.198 %
    35M 213K people
    2016
    $ 167B 807M
    $ 4,639.50
    $ 9,597.76
    $ 347B 143M
    15.199 %
    -7.935 %
    13.14 %
    -13.799 %
    36M 169K people
    2017
    $ 192B 343M
    $ 5,178.92
    $ 10,916.39
    $ 405B 430M
    -3.399 %
    -5.309 %
    11.33 %
    -0.517 %
    37M 140K people