Balance on Current Account for Iraq
IRQBCAUSD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-9,256,729,603.20
Year-over-Year Change
-439.85%
Date Range
1/1/2004 - 1/1/2025
Summary
The Balance on Current Account for Iraq measures the difference between Iraq's total imports and exports of goods, services, and investment income. This metric is a key indicator of Iraq's economic health and international trade position.
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 Balance on Current Account tracks Iraq's net transactions with the rest of the world. It includes the trade balance, net earnings on investments, and net transfer payments. Economists analyze this data to assess Iraq's trade competitiveness and international financial standing.
Methodology
The data is collected and published by the International Monetary Fund based on reports from the Central Bank of Iraq and other official sources.
Historical Context
Policymakers and analysts use the current account balance to evaluate Iraq's exchange rate policies and the sustainability of its external position.
Key Facts
- Iraq has run a current account surplus in most years since 2003.
- Oil and gas exports account for over 90% of Iraq's total exports.
- Iraq's current account balance is highly sensitive to global oil prices.
FAQs
Q: What does this economic trend measure?
A: The Balance on Current Account for Iraq measures the difference between the country's total imports and exports of goods, services, and investment income.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Iraq's economic health and international trade position, providing insights into the country's trade competitiveness and financial standing.
Q: How is this data collected or calculated?
A: The data is collected and published by the International Monetary Fund based on reports from the Central Bank of Iraq and other official sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the current account balance to evaluate Iraq's exchange rate policies and the sustainability of its external position.
Q: Are there update delays or limitations?
A: The data is published by the IMF with some delay, and may be subject to revisions as more complete information becomes available.
Related Trends
Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Iraq
DDDI12IQA156NWDB
Number of Identified Exporters to Iraq from Minnesota
MNIRQA475SCEN
Use of Financial Services, Liabilities: Outstanding Deposits by Small and Medium Enterprises at Commercial Banks for Iraq
IRQFCLODCSXDC
Value of Exports to Iraq from Louisiana
LAIRQA052SCEN
Value of Exports to Iraq from Maine
MEIRQA052SCEN
Bank's Return on Equity for Iraq
DDEI06IQA156NWDB
Citation
U.S. Federal Reserve, Balance on Current Account for Iraq (IRQBCAUSD), retrieved from FRED.