External balance on goods and services as a percent of GDP in Iraq
Iraq: External balance on goods and services as a percent of GDP was 2.4% in 2024. ◆ Volatile
External balance on goods and services as a percent of GDP in Iraq, 1970–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
Iraq recorded 2.4% for external balance on goods and services as a percent of gdp in 2024.
The figure is down 75.6% on the previous year and down 73.2% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Iraq peaked at 31.9% in 1980 and was at its lowest, -40.1%, in 1982.
That places Iraq 58th out of 191 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services as a percent of GDP in Iraq, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 17.1% | — |
| 1971 | 20.7% | +20.5% |
| 1972 | 15.4% | -25.2% |
| 1973 | 21.7% | +40.6% |
| 1974 | 29.5% | +35.7% |
| 1975 | 9.8% | -66.9% |
| 1976 | 21.5% | +120.0% |
| 1977 | 15.4% | -28.4% |
| 1978 | 25.0% | +62.9% |
| 1979 | 31.3% | +25.0% |
| 1980 | 31.9% | +2.0% |
| 1981 | -30.7% | -196.1% |
| 1982 | -40.1% | +30.7% |
| 1983 | -8.3% | -79.3% |
| 1984 | -4.0% | -51.9% |
| 1985 | -4.7% | +16.8% |
| 1986 | -9.9% | +112.7% |
| 1987 | -2.9% | -70.8% |
| 1988 | -3.1% | +7.6% |
| 1989 | -0.9% | -71.0% |
| 1990 | 0.3% | -129.9% |
| 1991 | -1.2% | -547.7% |
| 1992 | -0.8% | -37.5% |
| 1993 | -0.4% | -48.0% |
| 1994 | -0.0% | -92.8% |
| 1995 | -0.0% | -64.0% |
| 1996 | -0.0% | -16.4% |
| 1997 | 21.5% | -251191.1% |
| 1998 | 23.6% | +9.5% |
| 1999 | 17.0% | -28.0% |
| 2000 | 26.1% | +53.8% |
| 2001 | 3.8% | -85.6% |
| 2002 | 21.4% | +467.6% |
| 2003 | 0.6% | -97.4% |
| 2004 | -7.7% | -1496.3% |
| 2005 | -7.0% | -8.4% |
| 2006 | 12.4% | -276.2% |
| 2007 | 17.7% | +42.6% |
| 2008 | 19.6% | +10.7% |
| 2009 | 0.1% | -99.4% |
| 2010 | 5.3% | +4628.9% |
| 2011 | 16.7% | +212.3% |
| 2012 | 15.4% | -7.5% |
| 2013 | 11.9% | -22.7% |
| 2014 | 8.9% | -25.3% |
| 2015 | -0.6% | -106.3% |
| 2016 | 1.6% | -389.1% |
| 2017 | 8.1% | +394.3% |
| 2018 | 15.8% | +96.3% |
| 2019 | 7.1% | -55.0% |
| 2020 | -2.2% | -131.5% |
| 2021 | 13.1% | -686.1% |
| 2022 | 20.3% | +54.4% |
| 2023 | 9.8% | -51.7% |
| 2024 | 2.4% | -75.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 20.7% | 9.8% | 31.3% | 10 |
| 1980s | -7.3% | -40.1% | 31.9% | 10 |
| 1990s | 6.0% | -1.2% | 23.6% | 10 |
| 2000s | 8.7% | -7.7% | 26.1% | 10 |
| 2010s | 9.0% | -0.6% | 16.7% | 10 |
| 2020s | 8.7% | -2.2% | 20.3% | 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 438.70 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0016 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 9.53 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -7.65 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -42.61 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0274 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita -166.13 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate -10.28 % change on previous year (2024)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Iraq?
- External balance on goods and services as a percent of gdp in Iraq was 2.4% in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Iraq?
- The highest recorded value was 31.9% in 1980.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Iraq?
- The lowest recorded value was -40.1% in 1982.
- How does Iraq rank for external balance on goods and services as a percent of gdp?
- Iraq ranks 58th out of 191 countries with data for 2024.
- Is external balance on goods and services as a percent of gdp rising or falling in Iraq?
- Over the last ten years it is down 73.2%. The long-run trend across the full record is volatile.
- Where does this Iraq data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.