Iraq: Trade openness
* indicates monthly or quarterly data series
| Iraq |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 74.74 |
| Year | 2024 |
| Measure | percent |
| Data availability | 1970 - 2024 |
| Average | 71.51 |
| Min - Max | 0.02 - 154.23 |
| Source | The World Bank |
The latest value from 2024 is 74.74 percent, an increase from 69.46 percent in 2023. In comparison, the world average is 92.27 percent, based on data from 133 countries. Historically, the average for Iraq from 1970 to 2024 is 71.51 percent. The minimum value, 0.02 percent, was reached in 1995 while the maximum of 154.23 percent was recorded in 2003.
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Definition: Exports plus imports as percent of GDP.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 121.90 | 2023 | percent |
| Trade openness | 74.74 | 2024 | percent |
| Financial openness | -1.248 | 2002 | index points |
| Exports, percent of GDP | 37.51 | 2024 | percent |
| Exports, billion dollars | 104.89 | 2024 | billion U.S. dollars |
| Growth of exports | -0.14 | 2024 | percent |
| Imports, percent of GDP | 33.20 | 2024 | percent |
| Imports, billion dollars | 104.11 | 2024 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | -2.74 | 2024 | percent |
| Foreign Direct Investment, billion dollars | -7.46 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | -6.10 | 2023 | million dollars (current) |
| Current account, percent of GDP | 2.99 | 2024 | percent |
| Current account, in dollars | 28.37 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 0.28 | 2024 | percent |
| Trade balance, in dollars | 26.67 | 2023 | billion U.S. dollars |
| Reserves | 100.69 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 0.35 | 2023 | percent |
| Remittances | 1,161.70 | 2023 | million U.S. dollars |
| Net errors and omissions | -7,663.74 | 2024 | million USD |
| External debt | 7.51 | 2023 | percent |
| Short-term external debt | 4.78 | 2023 | percent |
| Short-term debt to reserves | 0.87 | 2023 | percent |