Current Account Balance (As % of GDP) rose to 6.86% in Iraq in 2018

Current Account Balance (As % of GDP) (%)
Economy | Iraq | May 17, 2019
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Current account balance as a share of GDP reached 6.86 % in 2018 in Iraq, according to the National Statistical Office. This is 8751 % more than in the previous year.

Historically, current account balance as a share of GDP in Iraq reached an all time high of 6.86 % in 2018 and an all time low of -24.0 % in 2004. When compared to Iraq's main peers, current account balance as a share of GDP in Iran amounted to 1.35 %, 11.3 % in Kuwait and 8.40 % in Saudi Arabia in 2018.

Iraq has been ranked 21st within the group of 172 countries we follow in terms of current account balance as a share of GDP, 4 places behind the position seen 10 years ago.

The current account is one of the two primary components of the balance of payments, the other being the capital account.

Current Account Balance (As % of GDP) Unit 2015 2016 2017 2018 2019 2020 2021 2022 2023
Bahrain % -0.045% -2.46% -2.31% -2.52% -2.92%
Iran % 2.20% 1.35% 0.257% -1.10% -0.931%
Iraq % 0.078% 6.86% 3.15% -1.69% -3.38%
Jordan % -0.107% -9.63% -8.64% -7.67% -6.87%
Kuwait % 0.065% 11.3% 11.0% 8.92% 7.17%
Lebanon % -0.231% -25.6% -25.5% -24.4% -23.3%
Pakistan % -0.053% -5.92% -5.34% -5.17% -5.48%
Saudi Arabia % 0.015% 8.40% 8.80% 7.63% 5.38%
Syria % ... ... ... ... ... ... ... ... ...
Turkey % -0.056% -5.70% -1.44% -1.80% -2.10%
Turkmenistan % -11.5% -8.18% -6.35% -6.15% -6.12%
United Arab Emirates % 6.92% 7.21% 7.47% 5.69% 4.75%
Yemen % -3.95% -9.34% -7.44% -4.52% -5.81%