Iraq's final consumption expenditure (current LCU) was 249.35 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is up 55.86% from 159.98 trillion in 2014 (4.54% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 249.35 trillion | 2024 |
| Five years earlier | 172 trillion | 2019 |
| Ten years earlier | 159.98 trillion | 2014 |
| Highest | 249.35 trillion | 2024 |
| Lowest | 853.4 million | 1970 |
| Average since 2015 | 176.24 trillion | 2015–2024 |
| First recorded | 853.4 million |
What the numbers say
In 2024, Iraq's final consumption expenditure (current LCU) rose 18.3% on 2023 (from 210.75 trillion to 249.35 trillion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +44.8% and a typical year strayed about 101.8% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 422.8% in 1994 and the biggest yearly fall was 13.2% in 1996. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 9.8 trillion a year. A straight line explains 82% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Iraq had the 4th highest value of the 37 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Iraq in the 2024 ranking
- Lebanon — 1st of 37: 3,118.37 trillion
- Japan — 2nd of 37: 464.34 trillion
- Kazakhstan — 4th of 37: 86.21 trillion
- Angola — 5th of 37: 80.56 trillion
- China — 6th of 37: 76.41 trillion
What this measures
Final consumption expenditure is expenditure on goods and services by resident institutional units for the direct satisfaction of human needs or wants, whether individual or collective. Final consumption expenditure can be measured for households, general government, the central bank and non-profit institutions serving households. 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.
All 55 values
| Year | Final consumption expenditure (current LCU) |
|---|---|
| 2024 | 249,353,598,700,000 |
| 2023 | 210,751,113,700,000 |
| 2022 | 189,569,486,800,000 |
| 2021 | 176,535,469,740,967 |
| 2020 | 161,322,507,400,000 |
| 2019 | 171,998,340,500,000 |
| 2018 | 159,785,053,200,000 |
| 2017 | 150,201,532,400,000 |
| 2016 | 148,130,814,300,000 |
| 2015 | 144,735,867,000,000 |
Final consumption expenditure (current LCU) in nearby economies
- Afghanistan — 1.71 trillion (2024)
- Algeria — 22.68 trillion (2025)
- Bahrain — 9.57 billion (2024)
- Djibouti — 688.39 billion (2025)
- Egypt, Arab Rep. — 17.92 trillion (2025)
- Iran, Islamic Rep. — 180,346 trillion (2025)
- Israel — 1.55 trillion (2025)
- Kuwait — 33.25 billion (2024)
- Lebanon — 3,118.37 trillion (2024)
- Libya — 161.3 billion (2025)
More economic policy & debt data for Iraq
- Total reserves, including gold (current US$) — US$98.45 billion (2025)
- Total reserves, excluding gold (current US$) — US$73.93 billion (2025)
- GDP (current US$) — US$254.37 billion (2025)
- GDP (current LCU) — 330.68 trillion (2025)
- GDP (constant 2015 US$) — US$188.32 billion (2025)
- GDP (constant LCU) — 207.34 trillion (2025)
- GDP per capita (current US$) — US$5,410 (2025)
- GDP per capita (current LCU) — 7.03 million (2025)
- GDP per capita (constant 2015 US$) — US$4,005 (2025)
- GDP per capita (constant LCU) — 4.41 million (2025)
- GNI (current US$) — US$254.8 billion (2025)
Reading data like this
Questions people ask
- What is Iraq's final consumption expenditure (current LCU)?
- 249.35 trillion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 29.22 million% from 853.4 million in 1970 (26.25% a year on average, compounded). The highest value was 249.35 trillion in 2024 and the lowest 853.4 million in 1970.
- How does Iraq rank?
- 4th highest of 37 economies with data for 2024.
- Is the latest change in final consumption expenditure (current LCU) unusual for Iraq?
- In 2024, Iraq's final consumption expenditure (current LCU) rose 18.3% on 2023 (from 210.75 trillion to 249.35 trillion). Across the 30 yearly changes before that (1994 to 2023), the average change was +44.8% and a typical year strayed about 101.8% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NE.CON.TOTL.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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