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Iraq Iraq

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Iraq – Quick View
ECR score30.95 (Mar 2011)
ECR rank132 (Mar 2011)
Economic
GDP (2009)USD 118 billion
GNI per capita PPP (2009)USD 3,330
FDI inflow (2009)USD 1,070.2 million
Inflation (2009)-2.8%
Central bank assets (2009)USD 49.09 million
Unemployment rate (2008)15.34%
Government surplus (2009)USD 2,237.91 million
Tax revenue (2009)USD 2,824.40 million
Political
Government typeRepublic and Democratic
Recent political crisisNA
Economic freedom score (2011)Not Ranked
Freedom of information score (2010)130th
Corruption perception index (2010)175th
Structural
Birth rate (2005-2010e)31.6 per '000
Population balance (2009)Up to 14 years - 43.11%
Population balance (2009)Above 60 years - 2.81%
Life expectancy years (2008)Males - 59 years
Life expectancy years (2008)Females - 69 years
Mortality rate (2005-2010e)6.1 per '000
Literacy rate (2008)77.6%
Internet access (June 2010)1.1%

[Top] Economic Overview

The economy of Iraq is dependent on the oil sector, with exports of crude oil and related refined products constituting over 98% of the total exports. 

(Source: economywatch.com, Central Bank)

 

Gross Domestic Product (GDP)

 

In 2009, Iraq reported a preliminary GDP of IQD 139,330 billion at current market prices, decreasing 10.68% from 2008. 

(Source: Central Bank)

Iraq GDP and GDP growth rate

[Top] Financial Indicators & Government Financial

Consumer price index (CPI)

In 2009, annual CPI was 24,155.1, decreasing 2.8% from the previous year.

 

Annual CPI

Year

CPI

2009

24,155.1

2008

24,851.3

2007

24,205.5

2006

18,500.8

2005

12,073.8

2004

8,815.6

2003

6,943.5

2002

5,196.6

2001

4,355.3

 

Base year: 1993 = 100

 

(Source: COSIT)

 

Producer Price Index (PPI)

In 2008, the general production index was 44.2 points across all manufacturing industries.

 

General Production Indices

Year

CPI

2008

44.2

2007

42.5

2006

40.0

2005

36.2

2004

36.6

2003

47.1

2002

65.9

2001

72.3

 

(Source: COSIT)

Interest rates

In 2009, the interest rate for long-term loans was 16.47% in case issued in domestic currency, and 14.07% on foreign currency. For the same year, saving deposits were offered by licensed banks at an interest rate of 6.84% on domestic currency and 2.82% on foreign currency.

(Source: Central Bank)

Average Interest Rates on Deposits and Loans in 2009 (%)

Deposit/Loan

On domestic currency

On foreign currency

Saving deposits

6.84

2.82

Time deposits

 

 

       6 months

7.82

3.31

       1 year

8.83

3.94

       2 years

10.12

5.80

Loans

 

 

        Short-term

16.16

16.02

        Medium-term

15.63

14.38

        Long-term

16.47

14.07

 

(Source: Central Bank )


Money supply

 

In 2009, total currency in circulation amounted to IQD 24,169,401 million, and the total money supply was IQD 37,300,030 million.

(Source: Central Bank)

Money Supply (IQD million)

Year

Quasi money

Demand deposits

Currency outside banks

Currency in circulation

Money supply

2009

8,055,259

15,524,351

21,775,679

24,169,401

37,300,030

2008

6,671,993

9,697,432

18,492,502

21,304,418

28,189,934

2007

5,198,829

7,489,467

14,231,700

15,632,225

21,721,167

2006

5,590,189

4,491,961

10,968,099

11,916,555

15,460,060

 

(Source: Central Bank)

Government expenditure

In 2009, total government expenditures amounted to IQD 52,567,025 million.

Iraq Government expenditure

 

(Source: Central Bank)

 

Public debt level

In 2008, total internal debt of the Government of Iraq amounted to IQD 4,455,569 million.

 

Iraq Internal public debt level

(Source: COSIT)

 

Official exchange rate

 

In 2009, the average exchange rate of a Iraqi Dinar (IQD) against a United States Dollar (USD) was 1,185.

 

Average Exchange Rates

Year

USD

2009

1,185

2008

1,203

2007

1,267

2006

1,475

 

(Source: Central Bank)

 

Government finances

 

Fiscal balance

In 2009, the government of Iraq reported a surplus fiscal balance of IQD 2,642,328 million.

(Source: Central Bank)

 

Government revenue

In 2009, total Government revenues for Iraq amounted to IQD 55,209,353 million. In the same year, taxes contributed 6.04% to the total revenues. 

Iraq Government revenue

(Source: Central Bank)

 

 

Tax revenue

In 2009, revenue from taxes amounted to IQD 3,334,809 million.

(Source: Central Bank)

 

Current account balance

In 2009, the current account of Iraq reported a preliminary balance of USD 1,271 million.

(Source: Central Bank)

 

Iraq Current account balance

p=preliminary

 

 

(Source: COSIT, Central Bank)

 

Balance of payments (BoP)

In 2009, preliminary exports of goods amounted to USD 39,782.2 million, of which about 98% were export of crude oil. During the same year, total receipts on export of services were USD 2,623.0 million.

(Source: Central Bank)

 

BoP Statement (USD million)

Particulars

2009p

Current Account (Net)

1,270.7

Trade Balance

7,108.9

Services

-5,944.9

Income

2,095.5

Transfers

-1,988.8

Capital Account (Net)

10.2

Financial Account (Net)

6,974.6

 

p=preliminary

 

(Source: Central Bank)

[Top] Labour Force and Employment Overview

Labour force

In 2009, the total economically active population (labour force) of Iraq was 7,303,000, of which about 84% was male. Furthermore, the population between 20 and 39 years of age constituted about 61% of the total labour force.

(Source: ilo.org)

Unemployment rate

In 2008, the unemployment rate of the country was 15.34%.

 

Iraq Unemployment rate

(Source: COSIT)

 

Employment in agriculture

In 2008, there were 1,759,900 people engaged in agriculture, hunting and forestry sectors.

(Source: ilo.org)

 

Minimum wage

In Iraq, median of hourly wage across all sectors is IQD 833.

(Source: COSIT)

[Top] Political Stability

Iraq has a republic and democratic form of Government. It has its own written constitution, describing the legislative, executive and judicial powers of the country.

 

The legislative powers are exercised by the Council of Representatives and the Federation Council. Members of the Council of Representatives are elected for a term of four years, each representing 100,000 population of the country. Alternatively, the Federation Council is comprised of members representing the unorganized regions of the country.

 

The executive powers are exercised by the President along with the Council of Ministers. Members of the Council of Ministers are elected by the President from the Council of Representatives. The Council of Ministers is headed by the Prime Minister.

 

(Source: uniraq.org)

 

There are more than 300 political parties in Iraq. The major political parties of the country include:

  • Hadi al-Amiri
  • Nouri Kamil al-Maliki
  • Nowshirwan Mustafa
  • Husayn al-Shahristani
  • Salih al-Mutlaq
  • Ayad Allawi
  • Mas’oud Barzani
  • Ammar Adb al-Aziz al-Hakim
  • Muqtada al-Sadr

(Source: cfr.org, state.gov)

 

Regulatory environment

Iraq has not been ranked in the 2011 Index of Economic Freedom.

(Source: heritage.org)

 

Corruption perception

The country is ranked 175th in the Corruption Perceptions Index 2010. Its index score is 1.5 (out of 10), reflecting very high levels of corruption.

(Source: transperancy.org: Report)

Freedom of information

Iraq is ranked 130th on the Press Freedom Index 2010, indicating that the government has high restrictions on the press.

(Source: rsf.org)

 

Following is a list of some newspapers in the country:

 

National newspapers:

  • Iraq Today

  • Az Zaman

Other local newspapers:

  • Al Ahali

  • Al Sabah

  • Baghdad

  • Al Manarah

  • Xebat

  • Almosul Observer

(Source: newspapers24.com)

 

Judicial System
The judicial system of Iraq acts as an independent part of the Government. The system consists of the following types of courts:

  • Higher Juridical Council

  • Federal Supreme Court

  • Federal Court of Cassation

  • Public Prosecution Department

  • Judiciary Oversight Commission

  • Other federal and military courts

The Higher Juridical Council looks after the matters of the judicial committees. The Federal Supreme Court is the apex court in the judicial system of the country and its judgements are considered as final.

(Source: uniraq.org)

[Top] Demographic Overview

In 2009, Iraq had an estimated population of 32,104,988, of which 50.35% were male. The country has a population density of 70 people residing per square kilometre of land area.

 

(Source: COSIT, World Bank) 

Population by age-group (2009)*

Age group (years)

Population (numbers)

0-14

13,841,944

15-44

14,244,213

45-64

3,115,927

65 and above

902,904

*estimated

 

(Source: COSIT) 

 

Iraq Population by gender

From 2008, the population of the country has recorded a growth of 0.7%.

 

Iraq Population growth

(Source: COSIT)

Birth and death rate 

Between 2005 and 2010, the estimated crude birth rate in the country was 31.6 births per 1,000 persons and crude death rate was estimated at 6.1 deaths per 1,000 persons.

 

(Source: UNDATA)

 

Infant mortality rate

In 2008, the infant mortality rate was 36 deaths per 1,000 live births in the country.

(Source: WHO)

 

(Source: WHO)

Life expectancy

In 2008, life expectancy was 59 years for males and 69 years for females.

(Source: WHO)

 

Life Expectancy (age in years)

Year

Males

Females

2008

59

69

2000

64

69

1990

64

69

 
(Source: WHO)
 
Migration and urbanisation 
In mid-2010, the international migration stock of Iraq was 90,900, representing 0.3% of the total population. 

(Source: UNDATA)

 

In 2009, the country had an estimated urbanisation rate of 66.62%. 

(Source: COSIT)

 

Ethnic environment

The majority of Iraq's population is of Arab ethnicity. Other ethnic groups in the country are Kurd, Turcoman, Chaldean and Assyrian.

 

About 97% of the population belong to the Muslim religion and remaining 3% include Christians as well as other religions.

(Source: state.gov)

Human Development Index (HDI)

According to United Nations Development Programme (UNDP), Iraq is one of the countries exempted from the HDI ranking.

(Source: HDR UNDP)

[Top] Soft Infrastructure

Literacy rate

In 2008, Iraq had an adult literacy rate (people above 15 years of age) of 77.6% and a youth literacy rate (people between 15-24 years of age) of 82.4%.

(Source: UNESCO)

 

Education

The country follows a multi-level system of education. The education system is comprised of pre-primary (kindergarten), primary, secondary and higher education levels.

 

Pre-primary/kindergarten education is a pre-school training for children below the age of six years. Primary education is six years of compulsory education. Secondary education consists three years of intermediate and three years of preparatory/vocational education. Higher education involves bachelor, master and doctorate degrees for students above 18 years of age.

(Source: UNESCO)

 

In 2008, the country had 12,507 primary schools and 4,364 secondary schools.

 

Education Statistics (2008)

Level

Schools

Teachers

Students

Kindergarten

586

5,006

85,592

Primary

12,507

237,130

4,333,154

Secondary

4,364

114,745

1,603,623

Vocational

288

11,161

63,069

 

(Source: COSIT)

 

Healthcare

There are around 208 government and 80 private hospitals in the country.

(Source: WHO)

 

Healthcare statistics during 2000-2009

Facilities

Number per 10,000 population

Hospital beds

13

Physicians

5

Nurses and midwives

10

Dentists

1

Pharmacists

1

 

(Source: WHO)

 

In 2009, the government of Iraq spent IQD 2,910,004 million on healthcare.

(Source: Central Bank)

[Top] Hard Infrastructure

Mass public transit

In Iraq, road transport is the primary means of travel.

(Source: mapsofworld.com)

 

Roadways

In 2008, the country had 40,987.5 kms of paved roads, of which 11,169 kms of road were majorly used.

(Source: COSIT)

 

Railways

In 2008, the total railway route of Iraq was 2,032 kms in length.

(Source: World Bank)

 

Ports

Iraq has four ports:

  •          Port of Basrah
  •          Port of Khor Al Zubair
  •          Port of Khawr Al Amaya
  •          Port of Umm Qasr

 (Source: ports.com)

 

Airports

 

The country has six airports, including Baghdad Al Muthana, Baghdad International Airport, Bamerny, Basra International, Kirkuk and Mosul.

 

(Source: mapsofworld.com)

 

Telecommunications

 

In 2009, there were 1,108,396 fixed landline subscribers and 19,722,000 mobile phone subscribers. In June 2010, internet penetration rate in Iraq stood at 1.1% with about 325,000 internet users. 

(Source: itu.int,internetworldstats.com)

Fixed telephone subscription

Year

Subscribers

Penetration rate (%)

2009

1,108,396

3.60

2008

1,082,300

3.60

2007

1,364,512

4.63

2006

1,247,512

4.32

2005

1,115,000

3.95

 

(Source: itu.int)

 

Mobile phone subscription

Year

Subscribers

Penetration rate (%)

2009

19,722,000

64.14

2008

17,529,000

58.24

2007

14,021,232

47.55

2006

9,345,371

32.36

2005

1,533,000

5.43

 
(Source:itu.int)
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