External balance on goods and services in Iraq
Iraq: External balance on goods and services was 8.68 trillion current LCU in 2024. ◆ Volatile
External balance on goods and services in Iraq, 1970–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
In 2024, external balance on goods and services in Iraq stood at 8.68 trillion current LCU.
Compared with earlier readings it is down 75.0% on the previous year and down 63.4% over ten years.
Over the whole period, external balance on goods and services in Iraq peaked at 84.56 trillion current LCU in 2022 and was at its lowest, -5.18 trillion current LCU, in 2005.
That places Iraq 6th out of 192 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 969.79 million current LCU | 200.90 million current LCU | 3.49 billion current LCU | 10 |
| 1980s | -863.39 million current LCU | -5.10 billion current LCU | 5.03 billion current LCU | 10 |
| 1990s | 1.31 trillion current LCU | -1.27 billion current LCU | 5.84 trillion current LCU | 10 |
| 2000s | 7.68 trillion current LCU | -5.18 trillion current LCU | 30.78 trillion current LCU | 10 |
| 2010s | 22.24 trillion current LCU | -1.10 trillion current LCU | 42.50 trillion current LCU | 10 |
| 2020s | 32.61 trillion current LCU | -4.83 trillion current LCU | 84.56 trillion current LCU | 5 |
Countries ranked near Iraq
More economy & growth data for Iraq
- DEC alternative conversion factor 1,300 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 464.62 billion current LCU (2024)
- Net secondary income (Net current transfers from abroad) 357.40 million current US$ (2024)
- Net primary income (Net income from abroad) 1.73 trillion current LCU (2024)
- Net primary income (Net income from abroad) 1.33 billion current US$ (2024)
- GNI per capita 7.04 million current LCU (2025)
- GNI per capita, Atlas method 5,690 current US$ (2025)
- GNI 331.24 trillion current LCU (2025)
- GNI 254.80 billion current US$ (2025)
- GNI, Atlas method 267.45 billion current US$ (2025)
Frequently asked questions
- What is external balance on goods and services in Iraq?
- External balance on goods and services in Iraq was 8.68 trillion current LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Iraq?
- The highest recorded value was 84.56 trillion current LCU in 2022.
- What is the lowest external balance on goods and services recorded in Iraq?
- The lowest recorded value was -5.18 trillion current LCU in 2005.
- How does Iraq rank for external balance on goods and services?
- Iraq ranks 6th out of 192 countries with data for 2024.
- Is external balance on goods and services rising or falling in Iraq?
- Over the last ten years it is down 63.4%. The long-run trend across the full record is volatile.
- Where does this Iraq data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current LCU). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.