External balance on goods and services in Iraq
Iraq: External balance on goods and services was 6.68 billion current US$ in 2024. ◆ Volatile
Latest (2024)
6.68 billion current US$
Change on year
down 74.7%
World rank
39th
of 193 countries
All-time high
58.32 billion current US$
in 2022
All-time low
-16.99 billion current US$
in 1982
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 US$.
Analysis
In 2024, external balance on goods and services in Iraq stood at 6.68 billion current US$.
Compared with earlier readings it is down 74.7% on the previous year and down 67.2% over ten years.
Over the whole period, external balance on goods and services in Iraq peaked at 58.32 billion current US$ in 2022 and was at its lowest, -16.99 billion current US$, in 1982.
That places Iraq 39th out of 193 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Iraq, year by year
| Year | current US$ | Change |
|---|---|---|
| 1970 | 562.52 million current US$ | — |
| 1971 | 798.59 million current US$ | +42.0% |
| 1972 | 635.33 million current US$ | -20.4% |
| 1973 | 1.12 billion current US$ | +75.5% |
| 1974 | 3.39 billion current US$ | +204.3% |
| 1975 | 1.31 billion current US$ | -61.3% |
| 1976 | 3.81 billion current US$ | +190.2% |
| 1977 | 3.05 billion current US$ | -20.0% |
| 1978 | 5.95 billion current US$ | +95.1% |
| 1979 | 11.83 billion current US$ | +99.0% |
| 1980 | 16.78 billion current US$ | +41.8% |
| 1981 | -11.60 billion current US$ | -169.1% |
| 1982 | -16.99 billion current US$ | +46.4% |
| 1983 | -3.38 billion current US$ | -80.1% |
| 1984 | -1.88 billion current US$ | -44.5% |
| 1985 | -2.26 billion current US$ | +20.5% |
| 1986 | -4.70 billion current US$ | +107.6% |
| 1987 | -1.65 billion current US$ | -64.9% |
| 1988 | -1.96 billion current US$ | +18.8% |
| 1989 | -595.81 million current US$ | -69.6% |
| 1990 | 487.74 million current US$ | -181.9% |
| 1991 | -4.94 million current US$ | -101.0% |
| 1992 | -4.19 million current US$ | -15.2% |
| 1993 | -4.06 million current US$ | -3.0% |
| 1994 | -1.14 million current US$ | -72.0% |
| 1995 | -1.32 million current US$ | +16.3% |
| 1996 | -893,640 current US$ | -32.4% |
| 1997 | 4.47 billion current US$ | -499815.8% |
| 1998 | 4.86 billion current US$ | +8.7% |
| 1999 | 6.25 billion current US$ | +28.8% |
| 2000 | 12.61 billion current US$ | +101.6% |
| 2001 | 1.36 billion current US$ | -89.2% |
| 2002 | 7.04 billion current US$ | +416.6% |
| 2003 | 120.77 million current US$ | -98.3% |
| 2004 | -2.82 billion current US$ | -2433.3% |
| 2005 | -3.53 billion current US$ | +25.2% |
| 2006 | 8.09 billion current US$ | -329.2% |
| 2007 | 15.73 billion current US$ | +94.5% |
| 2008 | 25.80 billion current US$ | +64.0% |
| 2009 | 126.00 million current US$ | -99.5% |
| 2010 | 7.39 billion current US$ | +5766.5% |
| 2011 | 30.95 billion current US$ | +318.8% |
| 2012 | 33.59 billion current US$ | +8.5% |
| 2013 | 27.96 billion current US$ | -16.8% |
| 2014 | 20.33 billion current US$ | -27.3% |
| 2015 | -939.73 million current US$ | -104.6% |
| 2016 | 2.72 billion current US$ | -389.0% |
| 2017 | 15.07 billion current US$ | +455.0% |
| 2018 | 35.93 billion current US$ | +138.4% |
| 2019 | 16.62 billion current US$ | -53.7% |
| 2020 | -4.06 billion current US$ | -124.4% |
| 2021 | 27.55 billion current US$ | -779.4% |
| 2022 | 58.32 billion current US$ | +111.6% |
| 2023 | 26.35 billion current US$ | -54.8% |
| 2024 | 6.68 billion current US$ | -74.7% |
Iraq compared with similar countries
- Iraq's 6.68 billion current US$ is above the median for upper middle income countries, which is -347.73 million current US$. (53 countries reporting)
- Iraq's 6.68 billion current US$ is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -4.68 billion current US$. (23 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Iraq changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1997 | +499815.8% | -893,640 current US$ | 4.47 billion current US$ |
| 2010 | +5766.5% | 126.00 million current US$ | 7.39 billion current US$ |
| 2004 | -2433.3% | 120.77 million current US$ | -2.82 billion current US$ |
| 2021 | +779.4% | -4.06 billion current US$ | 27.55 billion current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.25 billion current US$ | 562.52 million current US$ | 11.83 billion current US$ | 10 |
| 1980s | -2.82 billion current US$ | -16.99 billion current US$ | 16.78 billion current US$ | 10 |
| 1990s | 1.60 billion current US$ | -4.94 million current US$ | 6.25 billion current US$ | 10 |
| 2000s | 6.45 billion current US$ | -3.53 billion current US$ | 25.80 billion current US$ | 10 |
| 2010s | 18.96 billion current US$ | -939.73 million current US$ | 35.93 billion current US$ | 10 |
| 2020s | 22.97 billion current US$ | -4.06 billion current US$ | 58.32 billion current US$ | 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$), annual growth rate -10.28 % change on previous year (2024)
Frequently asked questions
- What is external balance on goods and services in Iraq?
- External balance on goods and services in Iraq was 6.68 billion current US$ 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 58.32 billion current US$ in 2022.
- What is the lowest external balance on goods and services recorded in Iraq?
- The lowest recorded value was -16.99 billion current US$ in 1982.
- How does Iraq rank for external balance on goods and services?
- Iraq ranks 39th 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 67.2%. 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 US$). Statizoid updates them automatically from the source API.
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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 indicator is expressed in United States dollars.