The Gross Domestic Product (GDP) in Iraq contracted 1.50 percent in the fourth quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Iraq averaged 5.99 percent from 1991 until 2024, reaching an all time high of 54.16 percent in 2004 and a record low of -56.40 percent in 1991. source: Central Bank of Iraq

GDP Annual Growth Rate in Iraq is expected to reach 1.00 percent by the end of 2026, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iraq GDP Annual Growth Rate is projected to trend around -0.40 percent in 2027 and 0.40 percent in 2028, according to our econometric models.



Related Last Previous Unit Reference
GDP 279.64 268.88 USD Billion Dec 2024
GDP Annual Growth Rate -1.50 0.50 percent Dec 2024
GDP Current Prices 96336274.40 90546010.20 IQD Million Dec 2024
GDP per Capita 4180.30 4337.09 USD Dec 2024
GDP per Capita PPP 12725.04 13202.32 USD Dec 2024


Iraq GDP Annual Growth Rate
In Iraq, oil extraction is the most important sector of the economy and accounts for 55 percent of GDP. The services sector constitutes 33 percent of the output. Within services the largest segments are: community, social and personal services (13 percent of GDP); finance, insurance and real estate services (9 percent) and wholesale and retail trade and restaurants and hotels (7 percent). Manufacturing, construction and water and electricity production and distribution account for 8 percent of the wealth and agriculture, forestry, hunting and fishing for the remaining 4 percent.
Actual Previous Highest Lowest Dates Unit Frequency
-1.50 0.50 54.16 -56.40 1991 - 2024 percent Yearly