Current Account to GDP in Iraq decreased to -12.60 percent in 2020 from 1.10 percent in 2019. source: Central Bank of Iraq

Current Account to GDP in Iraq averaged -1.07 percent from 2001 until 2020, reaching an all time high of 12.70 percent in 2008 and a record low of -24 percent in 2004. This page provides - Iraq Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraq Current Account to GDP - values, historical data and charts - was last updated on August of 2021.

Current Account to GDP in Iraq is expected to reach -14.00 percent by the end of 2021, 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 -8.50 percent in 2022, according to our econometric models.

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Iraq Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-12.60 1.10 12.70 -24.00 2001 - 2020 percent of GDP Yearly

Iraq Trade Last Previous Highest Lowest Unit
Balance of Trade 5883.20 32167.60 47550.00 -3492.00 USD Million [+]
Current Account -6216.80 15762.60 34369.50 -15410.00 USD Million [+]
Current Account to GDP -12.60 1.10 12.70 -24.00 percent of GDP [+]
Imports 40927.30 49417.60 59349.00 2681.90 USD Million [+]
Exports 46810.50 81585.20 94209.00 1720.40 USD Million [+]
Gold Reserves 96.42 96.42 96.42 0.00 Tonnes [+]
Crude Oil Production 3862.00 3879.00 4830.00 0.00 BBL/D/1K [+]
Terrorism Index 8.68 9.24 10.00 4.09 [+]


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.