Iraq | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Iraq including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Iraq economy.


MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 1166.00 1160 1140 1130 1120 992 [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Annual Growth Rate 11.00 5.2 5.8 5.8 5.97 3.5 percent [+]
GDP 171.49 153 147 140 134 93.3 USD Billion [+]
Gross National Product 224153528.60 215320483 209999500 204678518 199357536 101953257 IQD Million [+]
GDP per capita 5695.70 4820 5337 5311 5285 5029 USD [+]
GDP per capita PPP 16086.90 13200 14975 14774 14573 13209 USD [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 16.00 17.4 16.9 16.9 17.42 16.5 percent [+]
Population 37.20 38.24 38.49 38.75 39 41.16 Million [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate -0.10 3.1 3.5 3.8 3.8 4.3 percent [+]
Consumer Price Index CPI 103.40 103 103 103 103 102 Index Points [+]
Core Consumer Prices 104.70 104 104 104 104 104 Index Points [+]
Core Inflation Rate 0.30 1 1.4 1.9 2 3.7 percent [+]
Food Inflation -0.60 1.49 1.53 1.55 1.55 1.56 percent [+]
CPI Housing Utilities 115.10 114 114 113 113 113 Index Points [+]
CPI Transportation 95.00 95.06 95.15 95.13 95.09 95.11 Index Points [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 4.00 4 4 4 5 6 percent [+]
Money Supply M0 56493.00 56313 56243 56175 56107 55510 IQD Billion [+]
Money Supply M1 70321.00 70070 69939 69806 69672 68499 IQD Billion [+]
Money Supply M2 87548.00 87327 87180 87023 86863 85440 IQD Billion [+]
Deposit Interest Rate 4.86 5.81 6.09 6.36 6.64 7.37 percent [+]
Cash Reserve Ratio 15.00 15.17 15.29 15.41 15.53 16.41 percent [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade 4397.00 10705 11821 12937 14053 9860 USD Million [+]
Exports 43442.00 28388 26433 24478 22523 13740 USD Million [+]
Imports 39045.00 32527 31122 29717 28312 16236 USD Million [+]
Current Account 24427.90 24780 24229 23679 23128 18806 USD Million [+]
Current Account to GDP -7.30 -8 -6 -6 4.61 -4 percent [+]
Gold Reserves 89.82 88.22 87.21 86.2 85.2 77.04 Tonnes [+]
Crude Oil Production 4380.00 4170 4021 3882 3752 2922 BBL/D/1K [+]
Terrorism Index 9.96 9.48 9.3 9.11 8.93 6.29 [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 63.70 72 75 75 118 82 percent [+]
Government Budget -7.20 -7.6 9.94 8.59 7.25 -5.8 percent of GDP [+]
Government Budget Value 3168617.00 7787498 8736981 9232460 9490398 9770093 IQD Million [+]
Government Revenues 38394659.00 37451826 37194174 37191307 37196086 37196621 IQD Million [+]
Fiscal Expenditure 35226042.00 27254471 26941657 27394296 27444858 27398175 IQD Million [+]
Military Expenditure 6187.60 7699 6928 6157 5386 3364 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Industrial Production 0.90 1.38 1.44 1.49 1.52 1.61 percent [+]
Internet Speed 4079.62 3826 3713 3634 3547 3048 KBps [+]
IP Addresses 200240.00 200010 195321 185358 183423 150281 IP [+]
Ease of Doing Business 168.00 161 161 160 160 158 [+]
Corruption Index 17.00 18 18 18 18 18 Points [+]
Corruption Rank 166.00 166 164 162 160 154 [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 15.00 15 15 15 15 15 percent [+]
Personal Income Tax Rate 15.00 15 15 15 15 15 percent [+]
Social Security Rate 17.00 17 17 17 17 17 percent [+]
Social Security Rate For Companies 12.00 12 12 12 12 12 percent [+]
Social Security Rate For Employees 5.00 5 5 5 5 5 percent [+]
CLIMATE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Precipitation 24.00 14.8 14.66 14.7 14.74 14.72 mm [+]
Temperature 8.00 10.17 13.69 32.57 28.83 12.52 celsius [+]