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%.
Iraq GDP from 1998 to 2024
The total market value of goods and services produced annually in Iraq.
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.
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)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1998 | 0 % | $ 10B 469M | $ 79B 249M | $ 0 | $ 0 | 0 % | 0 person | 0 % | 0 % |
1999 | 24.752 % | $ 18B 449M | $ 100B 264M | $ 0 | $ 0 | 0 % | 0 person | 0 % | 0 % |
2000 | -4.341 % | $ 25B 857M | $ 98B 84M | $ 0 | $ 0 | 0 % | 0 person | 0 % | 0 % |
2001 | -6.569 % | $ 18B 936M | $ 93B 704M | $ 0 | $ 0 | 0 % | 0 person | 2.186 % | 0 % |
2002 | -7.797 % | $ 18B 970M | $ 87B 741M | $ 0 | $ 0 | 0 % | 0 person | -2.036 % | 0 % |
2003 | 81.787 % | $ 15B 800M | $ 162B 650M | $ 608.65 | $ 6,265.54 | 0 % | 25M 960K people | -10.652 % | 0 % |
2004 | 53.386 % | $ 36B 642M | $ 256B 190M | $ 1,373.74 | $ 9,604.67 | −1.95 % | 26M 674K people | -24.047 % | -34.907 % |
2005 | 1.675 % | $ 50B 65M | $ 268B 651M | $ 1,828.74 | $ 9,812.99 | 30.79 % | 27M 377K people | 8.688 % | 3.92 % |
2006 | 5.638 % | $ 65B 144M | $ 292B 550M | $ 2,321.26 | $ 10,424.35 | 25.33 % | 28M 64K people | 3.232 % | 10.729 % |
2007 | 1.889 % | $ 88B 833M | $ 306B 151M | $ 3,090.85 | $ 10,652.19 | 18.71 % | 28M 741K people | -3.388 % | 9.488 % |
2008 | 8.228 % | $ 131B 614M | $ 337B 724M | $ 4,472.12 | $ 11,475.57 | 34.80 % | 29M 430K people | 12.699 % | -0.981 % |
2009 | 3.379 % | $ 111B 660M | $ 351B 290M | $ 3,701.86 | $ 11,646.31 | 10.58 % | 30M 163K people | -11.522 % | -14.761 % |
2010 | 6.403 % | $ 138B 517M | $ 378B 324M | $ 4,473.71 | $ 12,218.84 | 23.74 % | 30M 962K people | 1.636 % | -3.692 % |
2011 | 7.546 % | $ 185B 750M | $ 415B 269M | $ 5,848.54 | $ 13,075.22 | 32.98 % | 31M 760K people | 10.879 % | 5.461 % |
2012 | 13.936 % | $ 218B 32M | $ 483B 559M | $ 6,692.58 | $ 14,843.03 | 27.16 % | 32M 578K people | 5.058 % | 4.458 % |
2013 | 7.628 % | $ 234B 638M | $ 515B 106M | $ 7,021.41 | $ 15,414.28 | 28.33 % | 33M 417K people | 1.143 % | -5.702 % |
2014 | 0.738 % | $ 234B 651M | $ 490B 962M | $ 6,704.31 | $ 14,027.48 | 28.57 % | 35M people | 2.602 % | -5.374 % |
2015 | 2.537 % | $ 177B 634M | $ 369B 519M | $ 5,044.62 | $ 10,493.95 | 17.98 % | 35M 213K people | -6.952 % | -12.198 % |
2016 | 15.199 % | $ 167B 807M | $ 347B 143M | $ 4,639.50 | $ 9,597.76 | 13.14 % | 36M 169K people | -7.935 % | -13.799 % |
2017 | -3.399 % | $ 192B 343M | $ 405B 430M | $ 5,178.92 | $ 10,916.39 | 11.33 % | 37M 140K people | -5.309 % | -0.517 % |