Non-Oil Real GDP Growth in Constant Prices for Iraq
IRQNGDPXORPCHPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
-67.75%
Date Range
1/1/2001 - 1/1/2025
Summary
The Non-Oil Real GDP Growth in Constant Prices for Iraq measures the year-over-year change in the real gross domestic product of Iraq, excluding the oil and gas sector. This metric is crucial for understanding Iraq's broader economic performance and diversification efforts.
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
This indicator provides insight into the growth dynamics of Iraq's non-oil economy, which is essential for policymakers and analysts assessing the country's economic development and structural transformation beyond its dominant energy sector.
Methodology
The data is calculated by the International Monetary Fund based on Iraq's national accounts statistics.
Historical Context
This metric is closely monitored by international institutions and investors to gauge Iraq's progress in reducing its reliance on hydrocarbon revenues.
Key Facts
- Iraq's economy is heavily dependent on oil exports.
- Non-oil GDP growth is a key indicator of economic diversification.
- Stable non-oil growth is crucial for Iraq's long-term development.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the year-over-year change in Iraq's real gross domestic product, excluding the oil and gas sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the broader performance of Iraq's economy beyond its dominant energy sector, which is crucial for assessing the country's economic diversification and development.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund based on Iraq's national accounts statistics.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by international institutions and investors to gauge Iraq's progress in reducing its reliance on hydrocarbon revenues and achieving sustainable, diversified economic growth.
Q: Are there update delays or limitations?
A: The data may be subject to occasional revisions and can have update delays due to the complexity of collecting national accounts statistics in Iraq.
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Inflation, consumer prices for Iraq
FPCPITOTLZGIRQ
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Amounts Outstanding of International Debt Securities for All Issuers, All Maturities, Nationality of Issuer in Iraq
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Net Issues of International Debt Securities for Issuers in General Government Sector, All Maturities, Residence of Issuer in Iraq
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Core Consumer Price Inflation for Iraq
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Citation
U.S. Federal Reserve, Non-Oil Real GDP Growth in Constant Prices for Iraq (IRQNGDPXORPCHPT), retrieved from FRED.