Iraq: Terms of trade

* indicates monthly or quarterly data series
 Iraq

Terms of trade, base year = 2000

 Latest value 106.69
 Year 2021
 Measure percent
 Data availability 2000 - 2021
 Average 129.45
 Min - Max 73.33 - 201.84
 Source The United Nations
For that indicator, we provide data for Iraq from 2000 to 2021. The average value for Iraq during that period was 129.45 percent with a minimum of 73.33 percent in 2001 and a maximum of 201.84 percent in 2008. The latest value from 2021 is 106.69 percent. For comparison, the world average in 2021 based on 189 countries is 109.62 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Iraq - Terms of trade - Recent values chart

Historical chart
Iraq - Terms of trade - historical chart - 2000-2021




The terms of trade for Iraq are calculated as the value of its exports as percent of the value of its imports. An increase in the terms of trade means that the value of exports is increasing relative to the value of imports. The country can afford to buy more imports with the revenue from its exports. For example, an increase in the price of oil increases (improves) the terms of trade for the oil-exporting countries and lowers it for the other countries.
Definition: Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2015.

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 Related indicators Latest value Reference Measure
 Terms of trade 106.69 2021 percent
 Trade openness 62.10 2021 percent
 Financial openness -1.242 2002 index points
 Exports, percent of GDP 37.68 2021 percent
 Exports, billion dollars 78.26 2021 billion U.S. dollars
 Growth of exports -13.29 2021 percent
 Imports, percent of GDP 24.41 2021 percent
 Imports, billion dollars 50.71 2021 billion U.S. dollars
 Foreign Direct Investment, percent of GDP -0.79 2022 percent
 Foreign Direct Investment, billion dollars -2.09 2022 billion U.S. dollars
 Portfolio investment inflows, equities 0.00 2021 million dollars (current)
 Current account, percent of GDP 16.80 2022 percent
 Current account, in dollars 58.01 2022 billion U.S. dollars
 Trade balance, percent of GDP 13.27 2021 percent
 Trade balance, in dollars 57.92 2022 billion U.S. dollars
 Reserves 97.01 2022 billion U.S. dollars
 Remittances, percent of GDP 0.24 2022 percent
 Remittances 624.00 2022 million U.S. dollars
 Net errors and omissions -3,289.00 2022 million USD
 External debt 8.58 2022 percent
 Short-term external debt 5.11 2022 percent
 Short-term debt to reserves 1.19 2022 percent
 Foreign exchange reserves 143,614.00 9/2023 billion
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