Money and business in the Middle East.

Countries

🇮🇶 Iraq

Baghdad · IQD

OPEC's second-largest crude oil producer in 2024 (OPEC Annual Statistical Bulletin 2025), with an economy and budget overwhelmingly dependent on oil revenue, a very large public payroll and a private sector that remains small relative to the population.

Verified · updated 4 Nov 2026

Key indicators

$254.37 bn

GDP (nominal)

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026·About this indicator

$5,409.7

GDP per capita (nominal)

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026·About this indicator

-2.2%

Real GDP growth

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026·About this indicator

3.3%

Inflation, CPI (monthly, year on year)

Commission of Statistics and GIS, Iraq (formerly COSIT)·Jul 2026·source dated 31 Aug 2026·updated 5 Oct 2026·About this indicator

IQD 53,990.84 bn

Real GDP (quarterly, constant prices)

Commission of Statistics and GIS, Iraq (formerly COSIT)·Q4 2025 (preliminary)·source dated 31 Mar 2026·updated 5 Oct 2026·About this indicator

IQD 39,095,544,424,400

Government revenue (year to date)

Ministry of Finance, Iraq·Jan–Jul 2026·source dated 4 Oct 2026·updated 27 Oct 2026·About this indicator

IQD 68,262,237,098,959

Government expenditure, actual (year to date)

Ministry of Finance, Iraq·Jan–Jul 2026·source dated 4 Oct 2026·updated 27 Oct 2026·About this indicator

0.3%

Inflation (CPI)

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026·About this indicator

47.02 mn

Population

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026·About this indicator

$-7.62 bn

FDI net inflows

International Monetary Fund·2025·source dated 30 Sep 2026·updated 4 Oct 2026·About this indicator

$83.07 bn

Foreign exchange reserves

International Monetary Fund·Aug 2026·source dated 27 Oct 2026·updated 27 Oct 2026·About this indicator

-6.2%

Fiscal balance, central government (% of GDP)

52.8%

Public debt (% of GDP)

6 score (0-21 scale)

Sovereign credit rating (S&P-equivalent score)

S&P Global Ratings·12 Jun 2026·source dated 12 Jun 2026·updated 25 Oct 2026·About this indicator

Oil and gas

140.00 bn bbl

Proven crude oil reserves

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 25 Oct 2026·About this indicator

3.77 mb/d

Crude oil production

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 4 Nov 2026·About this indicator

2.37702 mb/d

Crude oil exports (monthly)

State Organization for Marketing of Oil (SOMO), Iraq·Aug 2026·source dated 6 Sep 2026·updated 5 Oct 2026·About this indicator

4.87 mb/d

Crude oil production capacity

International Energy Agency (IEA)·Aug 2026·source dated 11 Sep 2026·updated 4 Oct 2026·About this indicator

3.26 mb/d

Crude oil exports

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 4 Nov 2026·About this indicator

1.27 mb/d

Refining capacity

OPEC Annual Statistical Bulletin·2024·source dated 2 Jul 2025·updated 4 Oct 2026·About this indicator

3,610 bcm

Proven natural gas reserves

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 25 Oct 2026·About this indicator

11.52 bcm

Marketed natural gas production

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 25 Oct 2026·About this indicator

Labour snapshot

15.5%

Unemployment rate (total)

World Bank, World Development Indicators·2025(estimate)·source dated 8 Oct 2026·updated 27 Oct 2026·About this indicator

16%

Unemployment rate (nationals)

Commission of Statistics and GIS, Iraq (formerly COSIT)·2021·source dated 5 Jul 2022·updated 4 Oct 2026·About this indicator

41.5%

Labour force participation (total)

World Bank, World Development Indicators·2025(estimate)·source dated 8 Oct 2026·updated 27 Oct 2026·About this indicator

Nationalisation programme

Ministry of Labour and Social Affairs

Iraq has no nationalisation quota programme comparable to the Gulf states; employment policy centres on public-sector hiring and periodic appointment drives, with the expatriate workforce small by regional standards.

Official source ↗

Major companies

Major projects

All verified values

Key indicatorsPeriodValueSource
GDP (nominal)2025$254.37 bn

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026

Proven crude oil reserves2025140.00 bn bbl

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 25 Oct 2026

GDP (nominal)2024$279.64 bn

World Bank, World Development Indicators·2024·source dated 8 Oct 2026·updated 27 Oct 2026

Proven crude oil reserves2024145.02 bn bbl

OPEC Annual Statistical Bulletin·2024·source dated 2 Jul 2025·updated 4 Oct 2026

GDP (nominal)2023$268.88 bn

World Bank, World Development Indicators·2023·source dated 8 Oct 2026·updated 3 Nov 2026

Proven crude oil reserves2023145.02 bn bbl

OPEC Annual Statistical Bulletin·2023·source dated 2 Jul 2025·updated 4 Oct 2026

GDP (nominal)2022$287.37 bn

World Bank, World Development Indicators·2022·source dated 8 Oct 2026·updated 3 Nov 2026

GDP (nominal)2021$209.69 bn

World Bank, World Development Indicators·2021·source dated 8 Oct 2026·updated 3 Nov 2026

GDP (nominal)2020$180.90 bn

World Bank, World Development Indicators·2020·source dated 8 Oct 2026·updated 3 Nov 2026

GDP (nominal)2019$233.64 bn

World Bank, World Development Indicators·2019·source dated 8 Oct 2026·updated 3 Nov 2026

GDP (nominal)2018$227.37 bn

World Bank, World Development Indicators·2018·source dated 8 Oct 2026·updated 3 Nov 2026

GDP (nominal)2017$187.22 bn

World Bank, World Development Indicators·2017·source dated 8 Oct 2026·updated 3 Nov 2026

GDP (nominal)2016$166.74 bn

World Bank, World Development Indicators·2016·source dated 8 Oct 2026·updated 3 Nov 2026

GDP (nominal)2015$166.77 bn

World Bank, World Development Indicators·2015·source dated 8 Oct 2026·updated 3 Nov 2026

GDP per capita (nominal)2025$5,409.7

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2024$6,073.6

World Bank, World Development Indicators·2024·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2023$5,965.3

World Bank, World Development Indicators·2023·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2022$6,520.7

World Bank, World Development Indicators·2022·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2021$4,868.5

World Bank, World Development Indicators·2021·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2020$4,295.2

World Bank, World Development Indicators·2020·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2019$5,671.9

World Bank, World Development Indicators·2019·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2018$5,646.7

World Bank, World Development Indicators·2018·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2017$4,759.3

World Bank, World Development Indicators·2017·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2016$4,334.4

World Bank, World Development Indicators·2016·source dated 8 Oct 2026·updated 27 Oct 2026

GDP per capita (nominal)2015$4,440.1

World Bank, World Development Indicators·2015·source dated 8 Oct 2026·updated 27 Oct 2026

Real GDP growth2025-2.2%

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026

Crude oil production20253.77 mb/d

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 4 Nov 2026

Crude oil production20243.86 mb/d

OPEC Annual Statistical Bulletin·2024·source dated 2 Jul 2025·updated 4 Nov 2026

Real GDP growth2024-1.5%

World Bank, World Development Indicators·2024·source dated 8 Oct 2026·updated 27 Oct 2026

Crude oil production20234.12 mb/d

OPEC Annual Statistical Bulletin·2023·source dated 2 Jul 2025·updated 4 Nov 2026

Real GDP growth20230.5%

World Bank, World Development Indicators·2023·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth20228.0%

World Bank, World Development Indicators·2022·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth20211.5%

World Bank, World Development Indicators·2021·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth2020-12.0%

World Bank, World Development Indicators·2020·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth20195.5%

World Bank, World Development Indicators·2019·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth20182.6%

World Bank, World Development Indicators·2018·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth2017-1.8%

World Bank, World Development Indicators·2017·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth201613.8%

World Bank, World Development Indicators·2016·source dated 8 Oct 2026·updated 3 Nov 2026

Real GDP growth20152.6%

World Bank, World Development Indicators·2015·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation, CPI (monthly, year on year)Jul 20263.3%

Commission of Statistics and GIS, Iraq (formerly COSIT)·Jul 2026·source dated 31 Aug 2026·updated 5 Oct 2026

Inflation, CPI (monthly, year on year)Jun 20263.1%

Commission of Statistics and GIS, Iraq (formerly COSIT)·Jun 2026·source dated 30 Jun 2026·updated 5 Oct 2026

Inflation, CPI (monthly, year on year)May 20263.0%

Commission of Statistics and GIS, Iraq (formerly COSIT)·May 2026·source dated 30 Jun 2026·updated 5 Oct 2026

Real GDP (quarterly, constant prices)Q4 2025 (preliminary)IQD 53,990.84 bn

Commission of Statistics and GIS, Iraq (formerly COSIT)·Q4 2025 (preliminary)·source dated 31 Mar 2026·updated 5 Oct 2026

Real GDP (quarterly, constant prices)Q3 2025 (preliminary)IQD 51,989.70 bn

Commission of Statistics and GIS, Iraq (formerly COSIT)·Q3 2025 (preliminary)·source dated 31 Mar 2026·updated 5 Oct 2026

Crude oil exports (monthly)Aug 20262.37702 mb/d

State Organization for Marketing of Oil (SOMO), Iraq·Aug 2026·source dated 6 Sep 2026·updated 5 Oct 2026

Crude oil production capacityAug 20264.87 mb/d

International Energy Agency (IEA)·Aug 2026·source dated 11 Sep 2026·updated 4 Oct 2026

Government revenue (year to date)Jan–Jul 2026IQD 39,095,544,424,400

Ministry of Finance, Iraq·Jan–Jul 2026·source dated 4 Oct 2026·updated 27 Oct 2026

Government expenditure, actual (year to date)Jan–Jul 2026IQD 68,262,237,098,959

Ministry of Finance, Iraq·Jan–Jul 2026·source dated 4 Oct 2026·updated 27 Oct 2026

Inflation (CPI)20250.3%

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026

Crude oil exports20253.26 mb/d

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 4 Nov 2026

Inflation (CPI)20242.6%

World Bank, World Development Indicators·2024·source dated 8 Oct 2026·updated 27 Oct 2026

Crude oil exports20243.36 mb/d

OPEC Annual Statistical Bulletin·2024·source dated 2 Jul 2025·updated 4 Nov 2026

Crude oil exports20233.47 mb/d

OPEC Annual Statistical Bulletin·2023·source dated 2 Jul 2025·updated 4 Nov 2026

Inflation (CPI)20234.4%

World Bank, World Development Indicators·2023·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)20225.0%

World Bank, World Development Indicators·2022·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)20216.0%

World Bank, World Development Indicators·2021·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)20200.6%

World Bank, World Development Indicators·2020·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)2019-0.2%

World Bank, World Development Indicators·2019·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)20180.4%

World Bank, World Development Indicators·2018·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)20170.2%

World Bank, World Development Indicators·2017·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)20160.6%

World Bank, World Development Indicators·2016·source dated 8 Oct 2026·updated 3 Nov 2026

Inflation (CPI)20151.4%

World Bank, World Development Indicators·2015·source dated 8 Oct 2026·updated 3 Nov 2026

Population202547.02 mn

World Bank, World Development Indicators·2025·source dated 8 Oct 2026·updated 27 Oct 2026

Refining capacity20241.27 mb/d

OPEC Annual Statistical Bulletin·2024·source dated 2 Jul 2025·updated 4 Oct 2026

Population202446.04 mn

World Bank, World Development Indicators·2024·source dated 8 Oct 2026·updated 27 Oct 2026

Refining capacity20231.27 mb/d

OPEC Annual Statistical Bulletin·2023·source dated 2 Jul 2025·updated 4 Oct 2026

Population202345.07 mn

World Bank, World Development Indicators·2023·source dated 8 Oct 2026·updated 27 Oct 2026

Population202244.07 mn

World Bank, World Development Indicators·2022·source dated 8 Oct 2026·updated 27 Oct 2026

Population202143.07 mn

World Bank, World Development Indicators·2021·source dated 8 Oct 2026·updated 27 Oct 2026

Population202042.12 mn

World Bank, World Development Indicators·2020·source dated 8 Oct 2026·updated 27 Oct 2026

Population201941.19 mn

World Bank, World Development Indicators·2019·source dated 8 Oct 2026·updated 27 Oct 2026

Population201840.27 mn

World Bank, World Development Indicators·2018·source dated 8 Oct 2026·updated 27 Oct 2026

Population201739.34 mn

World Bank, World Development Indicators·2017·source dated 8 Oct 2026·updated 27 Oct 2026

Population201638.47 mn

World Bank, World Development Indicators·2016·source dated 8 Oct 2026·updated 27 Oct 2026

Population201537.56 mn

World Bank, World Development Indicators·2015·source dated 8 Oct 2026·updated 27 Oct 2026

Unemployment rate (total)2025 (estimate)15.5%

World Bank, World Development Indicators·2025(estimate)·source dated 8 Oct 2026·updated 27 Oct 2026

Proven natural gas reserves20253,610 bcm

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 25 Oct 2026

Unemployment rate (total)2024 (estimate)15.3%

World Bank, World Development Indicators·2024(estimate)·source dated 8 Oct 2026·updated 27 Oct 2026

Proven natural gas reserves20243,714 bcm

OPEC Annual Statistical Bulletin·2024·source dated 2 Jul 2025·updated 4 Oct 2026

Proven natural gas reserves20233,714 bcm

OPEC Annual Statistical Bulletin·2023·source dated 2 Jul 2025·updated 4 Oct 2026

Unemployment rate (total)2023 (estimate)15.2%

World Bank, World Development Indicators·2023(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2022 (estimate)15.4%

World Bank, World Development Indicators·2022(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2021 (estimate)16.2%

World Bank, World Development Indicators·2021(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2020 (estimate)15.8%

World Bank, World Development Indicators·2020(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2019 (estimate)14.1%

World Bank, World Development Indicators·2019(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2018 (estimate)13.5%

World Bank, World Development Indicators·2018(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2017 (estimate)13.0%

World Bank, World Development Indicators·2017(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2016 (estimate)10.8%

World Bank, World Development Indicators·2016(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (total)2015 (estimate)10.9%

World Bank, World Development Indicators·2015(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Unemployment rate (nationals)202116%

Commission of Statistics and GIS, Iraq (formerly COSIT)·2021·source dated 5 Jul 2022·updated 4 Oct 2026

Labour force participation (total)2025 (estimate)41.5%

World Bank, World Development Indicators·2025(estimate)·source dated 8 Oct 2026·updated 27 Oct 2026

Marketed natural gas production202511.52 bcm

OPEC Annual Statistical Bulletin·2025·source dated 29 Apr 2026·updated 25 Oct 2026

Labour force participation (total)2024 (estimate)41.6%

World Bank, World Development Indicators·2024(estimate)·source dated 8 Oct 2026·updated 27 Oct 2026

Marketed natural gas production202411.07 bcm

OPEC Annual Statistical Bulletin·2024·source dated 2 Jul 2025·updated 24 Oct 2026

Labour force participation (total)2023 (estimate)41.6%

World Bank, World Development Indicators·2023(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Marketed natural gas production202310.96 bcm

OPEC Annual Statistical Bulletin·2023·source dated 2 Jul 2025·updated 24 Oct 2026

Labour force participation (total)2022 (estimate)41.5%

World Bank, World Development Indicators·2022(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Labour force participation (total)2021 (estimate)39.7%

World Bank, World Development Indicators·2021(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Labour force participation (total)2020 (estimate)40.3%

World Bank, World Development Indicators·2020(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Labour force participation (total)2019 (estimate)40.5%

World Bank, World Development Indicators·2019(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Labour force participation (total)2018 (estimate)41.2%

World Bank, World Development Indicators·2018(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Labour force participation (total)2017 (estimate)41.9%

World Bank, World Development Indicators·2017(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Labour force participation (total)2016 (estimate)43.1%

World Bank, World Development Indicators·2016(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

Labour force participation (total)2015 (estimate)43.0%

World Bank, World Development Indicators·2015(estimate)·source dated 8 Oct 2026·updated 3 Nov 2026

FDI net inflows2025$-7.62 bn

International Monetary Fund·2025·source dated 30 Sep 2026·updated 4 Oct 2026

FDI net inflows2024$-7.65 bn

World Bank, World Development Indicators·2024·source dated 8 Oct 2026·updated 27 Oct 2026

FDI net inflows2023$-5.36 bn

World Bank, World Development Indicators·2023·source dated 8 Oct 2026·updated 27 Oct 2026

Foreign exchange reservesAug 2026$83.07 bn

International Monetary Fund·Aug 2026·source dated 27 Oct 2026·updated 27 Oct 2026

Foreign exchange reservesJul 2026$85.40 bn

International Monetary Fund·Jul 2026·source dated 31 Oct 2026·updated 3 Nov 2026

Foreign exchange reservesJun 2026$87.10 bn

International Monetary Fund·Jun 2026·source dated 1 Oct 2026·updated 4 Oct 2026

Foreign exchange reservesend-2025$98.45 bn

International Monetary Fund·end-2025·source dated 1 Oct 2026·updated 4 Oct 2026

Foreign exchange reservesend-2024$100.69 bn

International Monetary Fund·end-2024·source dated 1 Oct 2026·updated 4 Oct 2026

Fiscal balance, central government (% of GDP)2025-6.2%

IMF — World Economic Outlook, October 2026 (published 13 Oct 2026), DataMapper·2025·source dated 13 Oct 2026·updated 30 Oct 2026

Fiscal balance, central government (% of GDP)2024 (actual)-3.5%

IMF — World Economic Outlook, October 2026 (published 13 Oct 2026), DataMapper·2024 (actual)·source dated 13 Oct 2026·updated 30 Oct 2026

Fiscal balance, central government (% of GDP)2023-1.1%

IMF — World Economic Outlook, October 2026 (published 13 Oct 2026), DataMapper·2023·source dated 13 Oct 2026·updated 30 Oct 2026

Public debt (% of GDP)202552.8%

IMF — World Economic Outlook, October 2026 (published 13 Oct 2026), DataMapper·2025·source dated 13 Oct 2026·updated 30 Oct 2026

Public debt (% of GDP)2024 (actual)45.7%

IMF — World Economic Outlook, October 2026 (published 13 Oct 2026), DataMapper·2024 (actual)·source dated 13 Oct 2026·updated 30 Oct 2026

Public debt (% of GDP)202342.1%

IMF — World Economic Outlook, October 2026 (published 13 Oct 2026), DataMapper·2023·source dated 13 Oct 2026·updated 30 Oct 2026

Sovereign credit rating (S&P-equivalent score)12 Jun 20266 score (0-21 scale)

S&P Global Ratings·12 Jun 2026·source dated 12 Jun 2026·updated 25 Oct 2026

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Sources

  1. World Bank, World Development Indicators · data.worldbank.org
  2. OPEC Annual Statistical Bulletin · publications.opec.org
  3. Commission of Statistics and GIS, Iraq (formerly COSIT) · cosit.gov.iq
  4. State Organization for Marketing of Oil (SOMO), Iraq · somooil.gov.iq
  5. International Energy Agency (IEA) · iea.org
  6. Ministry of Finance, Iraq · mof.gov.iq
  7. International Monetary Fund · api.imf.org
  8. IMF — World Economic Outlook, October 2026 (published 13 Oct 2026), DataMapper · imf.org
  9. S&P Global Ratings · spglobal.com