Current account balance in Iraq
Iraq: Current account balance was 3.0% in 2024. ◆ Volatile
Current account balance in Iraq, 2005–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Iraq recorded 3.0% for current account balance in 2024.
That represents a change of down 71.6% on the previous year and down 56.9% over ten years.
Over the whole period, current account balance in Iraq peaked at 21.6% in 2008 and was at its lowest, -6.7%, in 2005.
Iraq ranks 54th of 200 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Iraq, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2005 | -6.7% | — |
| 2006 | 4.1% | -161.8% |
| 2007 | 17.5% | +324.4% |
| 2008 | 21.6% | +23.7% |
| 2009 | -1.0% | -104.7% |
| 2010 | 4.7% | -563.5% |
| 2011 | 14.1% | +200.3% |
| 2012 | 13.6% | -3.7% |
| 2013 | 6.9% | -49.4% |
| 2014 | 6.9% | +1.2% |
| 2015 | -1.7% | -123.9% |
| 2016 | 1.3% | -178.1% |
| 2017 | 8.0% | +514.7% |
| 2018 | 15.1% | +90.0% |
| 2019 | 6.7% | -55.4% |
| 2020 | -3.5% | -151.7% |
| 2021 | 11.7% | -436.1% |
| 2022 | 20.2% | +72.3% |
| 2023 | 10.6% | -47.7% |
| 2024 | 3.0% | -71.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.1% | -6.7% | 21.6% | 5 |
| 2010s | 7.6% | -1.7% | 15.1% | 10 |
| 2020s | 8.4% | -3.5% | 20.2% | 5 |
Countries ranked near Iraq
More economy & growth data for Iraq
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.44 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.56 Percent per annum (2029)
- Imports of goods and services (constant 2015 US$), annual growth rate 24.81 % change on previous year (2024)
- Imports of goods and services (constant 2015 US$), per unit of GDP 0.3533 constant 2015 US$ per US$ of GDP (2024)
- Imports of goods and services (constant 2015 US$), per capita 2,146 constant 2015 US$ per person (2024)
- External balance on goods and services (current US$), annual growth -74.66 % change on previous year (2024)
- External balance on goods and services (current LCU), annual growth -74.96 % change on previous year (2024)
- Agriculture, forestry, and fishing, value added (current LCU), annual -8.53 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 44.38 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 240,070 current LCU per person (2025)
Frequently asked questions
- What is current account balance in Iraq?
- Current account balance in Iraq was 3.0% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Iraq?
- The highest recorded value was 21.6% in 2008.
- What is the lowest current account balance recorded in Iraq?
- The lowest recorded value was -6.7% in 2005.
- How does Iraq rank for current account balance?
- Iraq ranks 54th out of 200 countries with data for 2024.
- Is current account balance rising or falling in Iraq?
- Over the last ten years it is down 56.9%. The long-run trend across the full record is volatile.
- Where does this Iraq data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.