The Gross Domestic Product (GDP) in Iraq expanded 4.40 percent in 2019 from the previous year.

GDP Annual Growth Rate in Iraq averaged 7.01 percent from 1991 until 2019, reaching an all time high of 54.16 percent in 2004 and a record low of -56.40 percent in 1991. This page provides - Iraq GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraq GDP Annual Growth Rate - values, historical data and charts - was last updated on August of 2020.

GDP Annual Growth Rate in Iraq is expected to reach -5.00 percent by the end of 2020, 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 2.00 percent in 2021 and 2.50 percent in 2022, according to our econometric models.

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Iraq GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.40 0.90 54.16 -56.40 1991 - 2019 percent Yearly

Iraq GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 4.40 0.90 54.16 -56.40 percent [+]
GDP 234.09 224.23 234.65 1.68 USD Billion [+]
GDP per capita 5591.20 5477.60 5930.90 1432.20 USD [+]
GDP per capita PPP 10881.20 10660.10 11542.30 2787.20 USD [+]

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.