Iraq

Iraq dropped 4 places to 55th as US$ GDP fell 9.0% to US$254.4 billion, down from a peak of US$287.4 billion in 2022. Real output shrank 2.2%; most of the dollar decline was exchange-rate and price effects, not output.

Industry makes up 45.4% of output, close to services at 52.3%, yet manufacturing accounts for only 4.0%. Agriculture contributes 3.4%. Unemployment stood at 15.5%, inflation at 0.3% and government gross debt at 52.8% of GDP. GDP per capita of US$5,410 ranks 121st, and 119th on a PPP basis.

The economy has grown 5.3 times in dollar terms since 2000, when it measured US$48.4 billion and ranked 54th, almost exactly where it stands now, between New Zealand and Hungary. With 47.0 million people, it is about the size of the Tampa, FL metro area. The IMF projects GDP of US$331.0 billion by 2030, a +30% rise, with a forecast ranking of 53rd.