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Iraq Economic Statistics (2026)

2000

2026

2031

Source: IMF World Economic Outlook · Updated May 2026

2000

2026

2031

What to know

Iraq produces $14,376 per person (PPP) in 2026, a middle income level. The economy is worth about $265 billion in total. Over the past five years it has grown at about 0.5% a year. Inflation is 3.0%. Government debt is 62% of GDP. Its current account is in deficit, at 5.3% of GDP.

Key statistics for 2026

GDP per capita (PPP)

$14,376

GDP growth

-6.8%

Inflation rate

3.0%

Key terms

GDP: — Gross Domestic Product, the total value of goods and services produced in a country annually.
GDP PPP: — GDP adjusted for purchasing power parity, reflecting what money actually buys in each country.
GDP per capita: — GDP divided by population, a measure of average economic output per person.
Inflation rate: — Annual percentage increase in the general price level of goods and services.
Fiscal balance: — Government revenue minus expenditure. Surplus if positive, deficit if negative.
Current account: — Net flow of goods, services, and transfers with the rest of the world.

Output & Growth

Total GDP is $265 billion, with significant contraction of 6.8% in 2026.

Living Standards

GDP per capita is $5,677 in nominal terms, but $14,376 when adjusted for local purchasing power, indicating lower prices than in the US.

Prices & Employment

Inflation is 3.0% in 2026.

Government Finances

Government debt is elevated at 62% of GDP. The government spends more than it collects (revenue: 34.7%, expenditure: 42.6% of GDP).

External & Fiscal Balance

The country is running a fiscal deficit of 7.9% of GDP and a current-account deficit of 5.3% of GDP.

The bottom line

Iraq is a middle-income economy with GDP per capita (PPP) of $14,376.

Source: IMF World Economic Outlook · Updated May 2026

What to know

Iraq produces $14,376 per person (PPP) in 2026, a middle income level. The economy is worth about $265 billion in total. Over the past five years it has grown at about 0.5% a year. Inflation is 3.0%. Government debt is 62% of GDP. Its current account is in deficit, at 5.3% of GDP.

Key statistics for 2026

GDP per capita (PPP)

$14,376

GDP growth

-6.8%

Inflation rate

3.0%

Key terms

GDP: — Gross Domestic Product, the total value of goods and services produced in a country annually.
GDP PPP: — GDP adjusted for purchasing power parity, reflecting what money actually buys in each country.
GDP per capita: — GDP divided by population, a measure of average economic output per person.
Inflation rate: — Annual percentage increase in the general price level of goods and services.
Fiscal balance: — Government revenue minus expenditure. Surplus if positive, deficit if negative.
Current account: — Net flow of goods, services, and transfers with the rest of the world.

The bottom line

Iraq is a middle-income economy with GDP per capita (PPP) of $14,376.

Iran

Türkiye

Saudi Arabia

Syrian Arab Republic

Jordan

Kuwait

What to know

Key statistics for 2026

The bottom line

Iran

Türkiye

Saudi Arabia

Syrian Arab Republic

Jordan

Kuwait

What to know

Key statistics for 2026

The bottom line