What was Iraq's GDP (current US$) in 2024?

In 2024, Iraq's GDP (current US$) was $279.64 billion, according to World Bank Open Data.

Is Iraq's GDP (current US$) rising or falling?

Iraq's GDP (current US$) rose 4.0% from 2023 to 2024.

How does Iraq rank globally on GDP (current US$)?

In 2024, Iraq ranked #50 out of 192 countries reporting GDP (current US$).

How does Iraq's GDP (current US$) compare to the world average?

The global average for GDP (current US$) in 2024 was $572.20 billion, so Iraq is below the world average. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #7 of 19.

Iraq: GDP (current US$)

Name: Iraq: GDP (current US$)
Creator: World Bank
License: https://datacatalog.worldbank.org/public-licenses#cc-by

In 2024, Iraq's GDP (current US$) was $279.64 billion.

That's up 4.0% from 2023, the highest value since 2022.

The global average for this indicator in 2024 was $572.20 billion . Iraq ranks #50 globally out of 192 reporting countries. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #7 of 19.

Source: World Bank Open Data (NY.GDP.MKTP.CD) • Data as of 2024

Trend (2005–2024)

2008 · Global financial crisis
2020 · COVID-19 pandemic
2014 · Oil price collapse
2022 · Russia–Ukraine war begins

Highlights

Peak: $287.37B; 2022
Trough: $50.07B; 2005
1-year change: +4.0%
5-year change: +19.7%; +3.7% / yr
10-year change: +22.4%; +2.0% / yr

Real vs nominal growth

Over the last 10 years, Iraq's nominal GDP (current US$) changed by +22.4%, while real (inflation-adjusted) GDP (constant 2015 US$) changed by +18.4%. The +4.0 percentage-point gap is the combined effect of inflation and currency movement — only the real series isolates underlying economic growth.

Historical Data — Last 10 Years

Year	GDP (current US$)
2024	279.641B
2023	268.881B
2022	287.372B
2021	209.692B
2020	180.899B
2019	233.636B
2018	227.367B
2017	187.218B
2016	166.744B
2015	166.774B

About GDP (current US$)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. 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.

Indicator code: NY.GDP.MKTP.CD • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was Iraq's GDP (current US$) in 2024?: In 2024, Iraq's GDP (current US$) was $279.64 billion, according to World Bank Open Data.
Is Iraq's GDP (current US$) rising or falling?: Iraq's GDP (current US$) rose 4.0% from 2023 to 2024.
How does Iraq rank globally on GDP (current US$)?: In 2024, Iraq ranked #50 out of 192 countries reporting GDP (current US$).
How does Iraq's GDP (current US$) compare to the world average?: The global average for GDP (current US$) in 2024 was $572.20 billion, so Iraq is below the world average. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #7 of 19.
What is GDP (current US$) and how is it measured?: Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. 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.

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Source: World Bank Open Data (NY.GDP.MKTP.CD), CC BY 4.0.