Iraq recorded a Current Account surplus of 4.90 percent of the country's Gross Domestic Product in 2018. Current Account to GDP in Iraq averaged -0.60 percent from 2001 until 2018, reaching an all time high of 12.70 percent in 2008 and a record low of -24 percent in 2004.

Current Account to GDP in Iraq is expected to be -3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iraq Current Account to GDP is projected to trend around -5.60 percent in 2020, according to our econometric models.

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Iraq Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
4.90 2.10 12.70 -24.00 2001 - 2018 percent Yearly

Iraq Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.

Iraq Trade Last Previous Highest Lowest Unit
Balance of Trade 41524.00 18793.00 47550.00 -3492.00 USD Million [+]
Current Account 13954.50 2157.80 32344.00 -15410.00 USD Million [+]
Current Account to GDP 4.90 2.10 12.70 -24.00 percent [+]
Exports 87260.00 57559.00 94209.00 1720.40 USD Million [+]
Imports 45736.00 38766.00 59349.00 2681.90 USD Million [+]
Gold Reserves 96.27 96.27 96.30 0.00 Tonnes [+]
Crude Oil Production 4595.00 4576.00 4830.00 0.00 BBL/D/1K [+]
Terrorism Index 9.24 9.75 10.00 4.09 [+]