Iraq's Macroeconomic Statistics

Fewer incidences of violence and increased security are helping to encourage economic activity in Iraq, especially in its retail sector. The country's fiscal health, along with economic improvement all depend on whether or not the government passes certain policy reforms.

The economy of Iraq is dominated by its oil sector, which provides almost all of the government's revenue and exchange earnings. The country is making progress in building the infrastructure it needs to implement economic reform. Here are some macroeconomic statistics for Iraq:

GDP (PPP) (all data in US dollars)

$96.6 billion (2009)
$91.31 billion (2008)
$84.7 billion (2007)

GDP (exchange rate)

$70.1 billion (2009)

GDP (real growth rate)

5.8% (2009)
7.8% (2008)
1.5% (2007)

GDP (per capita, PPP):

$3,300 (2009)
$3,200 (2008)
$3,100 (2007)

GDP by sector

agriculture 9.6%
industrial: 62.8%
services: 27.6% (2009)

Work force:

8.175 million (2008)

Work force (by occupation)

Agricultural: 21.6%
Industrial: 18.7%
Service: 59.8%

Unemployment:

15.2% (as of 2008: unofficial estimates run as high as 30%)

25% of the population below the poverty line

Budget

$45.6 billion in revenue
58.6 billion in expenditures

Inflation

3.5% (2009)
2.8% (2008)

Iraq's inflation is still well-managed, at 1.7% year on year as of August 2010. Following the spike in inflation that happened in 2007 (where prices were at or greater than 20% year on year) and the deflationary period of 2009, the central bank has kept inflationary levels below 3.5% in 2010. Therefore, CPI forecasts have been adjusted to 3.3% and 3.1%.

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