Iraq: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Iraq |
Trade balance as percent of GDP |
|---|---|
| Latest value | 13.14 |
| Year | 2021 |
| Measure | percent |
| Data availability | 1970 - 2021 |
| Average | 7.36 |
| Min - Max | -40.09 - 31.93 |
| Source | The World Bank |
The latest value from 2021 is 13.14 percent, an increase from -2.24 percent in 2020. In comparison, the world average is -5.16 percent, based on data from 168 countries. Historically, the average for Iraq from 1970 to 2021 is 7.36 percent. The minimum value, -40.09 percent, was reached in 1982 while the maximum of 31.93 percent was recorded in 1980.
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* indicates monthly or quarterly data series
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The trade balance for Iraq and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 106.69 | 2021 | percent |
| Trade openness | 68.93 | 2022 | percent |
| Financial openness | -1.242 | 2002 | index points |
| Exports, percent of GDP | 44.64 | 2022 | percent |
| Exports, billion dollars | 127.96 | 2022 | billion U.S. dollars |
| Growth of exports | -14.97 | 2021 | percent |
| Imports, percent of GDP | 24.18 | 2021 | percent |
| Imports, billion dollars | 69.64 | 2022 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | -2.10 | 2023 | percent |
| Foreign Direct Investment, billion dollars | -5.36 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | -6.10 | 2023 | million dollars (current) |
| Current account, percent of GDP | 16.80 | 2022 | percent |
| Current account, in dollars | 28.37 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 13.14 | 2021 | percent |
| Trade balance, in dollars | 26.67 | 2023 | billion U.S. dollars |
| Reserves | 112.23 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.35 | 2023 | percent |
| Remittances | 879.41 | 2023 | million U.S. dollars |
| Net errors and omissions | -2,345.09 | 2023 | million USD |
| External debt | 8.58 | 2022 | percent |
| Short-term external debt | 4.78 | 2023 | percent |
| Short-term debt to reserves | 0.87 | 2023 | percent |
| Foreign exchange reserves | 136,877.00 | 11/2024 | billion |