Current Account Balance for Iraq
IRQBCAGDPGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.42
Year-over-Year Change
-394.38%
Date Range
1/1/2004 - 1/1/2025
Summary
The Current Account Balance for Iraq measures the difference between Iraq's total economic transactions with other countries. It is a key indicator of Iraq's international economic position and integration.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Current Account Balance tracks Iraq's imports and exports of goods, services, income, and unilateral transfers. It reflects Iraq's trade balance, investment income, and net transfers, providing insight into the country's overall economic performance and international competitiveness.
Methodology
The data is compiled by the International Monetary Fund from various national sources.
Historical Context
Economists and policymakers monitor Iraq's Current Account Balance to assess the sustainability of its external position and inform macroeconomic and trade policies.
Key Facts
- Iraq's Current Account Balance as a percentage of GDP was -2.2% in 2021.
- The Current Account Balance reflects Iraq's reliance on oil exports and high import levels.
- Iraq's Current Account Balance has been in deficit for most of the past two decades.
FAQs
Q: What does this economic trend measure?
A: The Current Account Balance for Iraq tracks the country's total transactions with other nations, including trade in goods and services, investment income, and unilateral transfers.
Q: Why is this trend relevant for users or analysts?
A: The Current Account Balance is a key indicator of Iraq's external economic position and integration with the global economy, informing analysis of the country's trade performance, competitiveness, and macroeconomic policies.
Q: How is this data collected or calculated?
A: The data is compiled by the International Monetary Fund from various national sources in Iraq.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor Iraq's Current Account Balance to assess the sustainability of its external position and inform macroeconomic and trade policies.
Q: Are there update delays or limitations?
A: The data may be subject to periodic revisions and can have publication lags, but it provides a comprehensive view of Iraq's international economic transactions.
Related Trends
Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Iraq
IRQFCSODCHXDC
Geographical Outreach: Number of Automated Teller Machines (ATMs), Country Wide for Iraq
IRQFCACNUM
Amounts Outstanding of International Debt Securities for All Issuers, All Maturities, Nationality of Issuer in Iraq
IDSGAMNIAOIQ
Number of Identified Exporters to Iraq from Texas
TXIRQA475SCEN
Population, Total for Iraq
POPTOTIQA647NWDB
Value of Exports to Iraq from Wisconsin
WIIRQA052SCEN
Citation
U.S. Federal Reserve, Current Account Balance for Iraq (IRQBCAGDPGDPPT), retrieved from FRED.