Net errors and omissions in Iraq
Iraq: Net errors and omissions was -7.66 billion BoP, current US$ in 2024. ◆ Volatile
Net errors and omissions in Iraq, 2005–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
In 2024, net errors and omissions in Iraq stood at -7.66 billion BoP, current US$.
That represents a change of down 226.8% on the previous year and up 63.4% over ten years.
Over the whole period, net errors and omissions in Iraq peaked at 579.06 million BoP, current US$ in 2006 and was at its lowest, -20.91 billion BoP, current US$, in 2014.
That places Iraq 187th out of 199 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net errors and omissions in Iraq, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 2005 | 452.42 million BoP, current US$ | — |
| 2006 | 579.06 million BoP, current US$ | +28.0% |
| 2007 | -3.66 billion BoP, current US$ | -732.0% |
| 2008 | -9.24 billion BoP, current US$ | +152.6% |
| 2009 | -6.12 billion BoP, current US$ | -33.8% |
| 2010 | -7.95 billion BoP, current US$ | +30.0% |
| 2011 | -3.27 billion BoP, current US$ | -58.9% |
| 2012 | -4.12 billion BoP, current US$ | +25.9% |
| 2013 | -12.07 billion BoP, current US$ | +193.3% |
| 2014 | -20.91 billion BoP, current US$ | +73.2% |
| 2015 | -13.56 billion BoP, current US$ | -35.2% |
| 2016 | -4.99 billion BoP, current US$ | -63.2% |
| 2017 | -8.64 billion BoP, current US$ | +73.1% |
| 2018 | -12.06 billion BoP, current US$ | +39.6% |
| 2019 | -2.63 billion BoP, current US$ | -78.2% |
| 2020 | -988.90 million BoP, current US$ | -62.4% |
| 2021 | 445.80 million BoP, current US$ | -145.1% |
| 2022 | -3.29 billion BoP, current US$ | -837.8% |
| 2023 | -2.35 billion BoP, current US$ | -28.7% |
| 2024 | -7.66 billion BoP, current US$ | +226.8% |
Iraq compared with similar countries
- Iraq's -7.66 billion BoP, current US$ is below the median for upper middle income countries, which is 2.76 million BoP, current US$. (57 countries reporting)
- Iraq's -7.66 billion BoP, current US$ is below the median for Middle East, North Africa, Afghanistan & Pakistan, which is 490.89 million BoP, current US$. (22 countries reporting)
Biggest year-on-year movements
Years where Net errors and omissions in Iraq changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2022 | -837.8% | 445.80 million BoP, current US$ | -3.29 billion BoP, current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -3.60 billion BoP, current US$ | -9.24 billion BoP, current US$ | 579.06 million BoP, current US$ | 5 |
| 2010s | -9.02 billion BoP, current US$ | -20.91 billion BoP, current US$ | -2.63 billion BoP, current US$ | 10 |
| 2020s | -2.77 billion BoP, current US$ | -7.66 billion BoP, current US$ | 445.80 million BoP, current US$ | 5 |
Countries ranked near Iraq
- 184 Netherlands -4.18 billion BoP, current US$ compare
- 185 Hungary -6.65 billion BoP, current US$ compare
- 186 Peru -7.49 billion BoP, current US$ compare
- 188 United Kingdom -10.39 billion BoP, current US$ compare
- 189 Turkey -10.89 billion BoP, current US$ compare
- 190 Poland -10.92 billion BoP, current US$ compare
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$), annual growth rate -10.28 % change on previous year (2024)
Frequently asked questions
- What is net errors and omissions in Iraq?
- Net errors and omissions in Iraq was -7.66 billion BoP, current US$ in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net errors and omissions recorded in Iraq?
- The highest recorded value was 579.06 million BoP, current US$ in 2006.
- What is the lowest net errors and omissions recorded in Iraq?
- The lowest recorded value was -20.91 billion BoP, current US$ in 2014.
- How does Iraq rank for net errors and omissions?
- Iraq ranks 187th out of 199 countries with data for 2024.
- Is net errors and omissions rising or falling in Iraq?
- Over the last ten years it is up 63.4%. 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 Net errors and omissions (BoP, current US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 20 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. 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.