External balance on goods and services in Iraq
Iraq: External balance on goods and services was 8.68 trillion current LCU in 2024. ◆ Volatile
Latest (2024)
8.68 trillion current LCU
Change on year
down 75.0%
World rank
6th
of 193 countries
All-time high
84.56 trillion current LCU
in 2022
All-time low
-5.18 trillion current LCU
in 2005
Years of data
55
1970–2024
External balance on goods and services in Iraq, 1970–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
In 2024, external balance on goods and services in Iraq stood at 8.68 trillion current LCU.
Compared with earlier readings it is down 75.0% on the previous year and down 63.4% over ten years.
Over the whole period, external balance on goods and services in Iraq peaked at 84.56 trillion current LCU in 2022 and was at its lowest, -5.18 trillion current LCU, in 2005.
That places Iraq 6th out of 193 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Iraq, year by year
| Year | current LCU | Change |
|---|---|---|
| 1970 | 200.90 million current LCU | — |
| 1971 | 282.30 million current LCU | +40.5% |
| 1972 | 211.50 million current LCU | -25.1% |
| 1973 | 337.80 million current LCU | +59.7% |
| 1974 | 1.00 billion current LCU | +196.7% |
| 1975 | 387.70 million current LCU | -61.3% |
| 1976 | 1.12 billion current LCU | +190.2% |
| 1977 | 900.10 million current LCU | -20.0% |
| 1978 | 1.76 billion current LCU | +95.1% |
| 1979 | 3.49 billion current LCU | +99.0% |
| 1980 | 5.03 billion current LCU | +44.1% |
| 1981 | -3.48 billion current LCU | -169.1% |
| 1982 | -5.10 billion current LCU | +46.4% |
| 1983 | -1.05 billion current LCU | -79.4% |
| 1984 | -582.10 million current LCU | -44.5% |
| 1985 | -701.30 million current LCU | +20.5% |
| 1986 | -1.46 billion current LCU | +107.6% |
| 1987 | -511.30 million current LCU | -64.9% |
| 1988 | -607.20 million current LCU | +18.8% |
| 1989 | -184.70 million current LCU | -69.6% |
| 1990 | 151.20 million current LCU | -181.9% |
| 1991 | -513.80 million current LCU | -439.8% |
| 1992 | -870.60 million current LCU | +69.4% |
| 1993 | -1.27 billion current LCU | +45.4% |
| 1994 | -471.80 million current LCU | -62.7% |
| 1995 | -686.00 million current LCU | +45.4% |
| 1996 | -556.80 million current LCU | -18.8% |
| 1997 | 3.25 trillion current LCU | -583058.0% |
| 1998 | 4.03 trillion current LCU | +24.3% |
| 1999 | 5.84 trillion current LCU | +44.9% |
| 2000 | 13.09 trillion current LCU | +124.0% |
| 2001 | 1.56 trillion current LCU | -88.1% |
| 2002 | 8.77 trillion current LCU | +463.6% |
| 2003 | 162.99 billion current LCU | -98.1% |
| 2004 | -4.09 trillion current LCU | -2612.4% |
| 2005 | -5.18 trillion current LCU | +26.5% |
| 2006 | 11.87 trillion current LCU | -329.0% |
| 2007 | 19.74 trillion current LCU | +66.3% |
| 2008 | 30.78 trillion current LCU | +56.0% |
| 2009 | 147.42 billion current LCU | -99.5% |
| 2010 | 8.65 trillion current LCU | +5766.3% |
| 2011 | 36.21 trillion current LCU | +318.8% |
| 2012 | 39.17 trillion current LCU | +8.2% |
| 2013 | 32.60 trillion current LCU | -16.8% |
| 2014 | 23.71 trillion current LCU | -27.3% |
| 2015 | -1.10 trillion current LCU | -104.6% |
| 2016 | 3.21 trillion current LCU | -392.4% |
| 2017 | 17.85 trillion current LCU | +456.4% |
| 2018 | 42.50 trillion current LCU | +138.1% |
| 2019 | 19.65 trillion current LCU | -53.8% |
| 2020 | -4.83 trillion current LCU | -124.6% |
| 2021 | 39.95 trillion current LCU | -926.4% |
| 2022 | 84.56 trillion current LCU | +111.6% |
| 2023 | 34.67 trillion current LCU | -59.0% |
| 2024 | 8.68 trillion current LCU | -75.0% |
Iraq compared with similar countries
- Iraq's 8.68 trillion current LCU is above the median for upper middle income countries, which is -2.10 billion current LCU. (53 countries reporting)
- Iraq's 8.68 trillion current LCU is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -4.55 billion current LCU. (23 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Iraq changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1997 | +583058.0% | -556.80 million current LCU | 3.25 trillion current LCU |
| 2010 | +5766.3% | 147.42 billion current LCU | 8.65 trillion current LCU |
| 2004 | -2612.4% | 162.99 billion current LCU | -4.09 trillion current LCU |
| 2021 | +926.4% | -4.83 trillion current LCU | 39.95 trillion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 969.79 million current LCU | 200.90 million current LCU | 3.49 billion current LCU | 10 |
| 1980s | -863.39 million current LCU | -5.10 billion current LCU | 5.03 billion current LCU | 10 |
| 1990s | 1.31 trillion current LCU | -1.27 billion current LCU | 5.84 trillion current LCU | 10 |
| 2000s | 7.68 trillion current LCU | -5.18 trillion current LCU | 30.78 trillion current LCU | 10 |
| 2010s | 22.24 trillion current LCU | -1.10 trillion current LCU | 42.50 trillion current LCU | 10 |
| 2020s | 32.61 trillion current LCU | -4.83 trillion current LCU | 84.56 trillion current LCU | 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 in Iraq?
- External balance on goods and services in Iraq was 8.68 trillion current LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Iraq?
- The highest recorded value was 84.56 trillion current LCU in 2022.
- What is the lowest external balance on goods and services recorded in Iraq?
- The lowest recorded value was -5.18 trillion current LCU in 2005.
- How does Iraq rank for external balance on goods and services?
- Iraq ranks 6th out of 193 countries with data for 2024.
- Is external balance on goods and services rising or falling in Iraq?
- Over the last ten years it is down 63.4%. The long-run trend across the full record is volatile.
- Where does this Iraq data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.