Agriculture > products
wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry |
|
Budget > Revenues
|
$39,900,000,000.00 |
|
[43rd of 166]
|
|
Source: CIA World Factbook, 28 July 2005 |
|
Consumer price index
|
128.79 %
|
|
[1st of 165]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Current account balance
|
$6,025,000,000.00 |
|
[32nd of 181]
|
|
Source: World Development Indicators database |
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Debt > External
|
$100,900,000,000.00 |
|
[32nd of 136]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Economy > Overview
Iraq's economy is dominated by the oil sector, which has traditionally provided about 95% of foreign exchange earnings. Although looting, insurgent attacks, and sabotage have undermined economy rebuilding efforts, economic activity is beginning to pick up in areas recently secured by the US military surge. Oil exports are around levels seen before Operation Iraqi Freedom, and total government revenues have benefited from high oil prices. Despite political uncertainty, Iraq is making some progress in building the institutions needed to implement economic policy and has negotiated a debt reduction agreement with the Paris Club and a new Stand-By Arrangement with the IMF. Iraq has received pledges for $13.5 billion in foreign aid for 2004-07 from outside of the US, more than $33 billion in total pledges. The International Compact with Iraq was established in May 2007 to integrate Iraq into the regional and global economy, and the Iraqi government is seeking to pass laws to strengthen its economy. This legislation includes a hydrocarbon law to establish a modern legal framework to allow Iraq to develop its resources and a revenue sharing law to equitably divide oil revenues within the nation, although both are still bogged down in discussions. The Central Bank has been successful in controlling inflation through appreciation of the dinar against the US dollar. Reducing corruption and implementing structural reforms, such as bank restructuring and developing the private sector, will be key to Iraq's economic success. |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Exchange rates
New Iraqi dinars per US dollar - 1,890 (second half, 2003), 0.3109 (2002), 0.3109 (2001), 0.3109 (2000) |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Exports
|
$38,140,000,000.00 |
|
[56th of 189]
|
|
Source: CIA World Factbook, 28 July 2005 |
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Exports to US
|
$1,953,700,000.00 |
|
[29th of 224]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP
|
$12,602,490,000.00 |
|
[91st of 203]
|
|
Source: US Census Bureau |
|
GDP (purchasing power parity)
|
$102,400,000,000.00 |
|
[64th of 187]
|
|
Source: World Development Indicators database and CIA World Factbook |
|
GDP > Real growth rate
|
5.9% |
|
[85th of 198]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP growth > annual %
|
46.5 annual %
|
|
[1st of 187]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Gross National Income
|
$0.00 |
|
[171st of 172]
|
|
Source: World Development Indicators database |
|
Imports of goods, services and income > BoP, current US$
|
8,574,950,000 BoP $
|
|
[28th of 156]
|
|
Inflation rate (consumer prices)
|
4.7% |
|
[102nd of 192]
|
|
Source: World Development Indicators database |
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Total reserves minus gold > current US$
|
12,104,090,000 $
|
|
[46th of 178]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Tourist arrivals
|
346,000 |
|
[83rd of 152]
|
|
Source: World Development Indicators database |
|
Tourist arrivals by region of origin > Europe
|
501 |
|
[190th of 195]
|
|
Source: United Nations World Statistics Pocketbook and Statistical Yearbook |
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Trade balance with US
|
-$1,953,200,000.00 |
|
[210th of 224]
|
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Source: Source: World Tourism Organization Statistics Database and Yearbook | United Nations World Tourism Organization |
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