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.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |
