Iraq's gross capital formation (constant LCU) was 17.72 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is down 46.85% from 33.35 trillion in 2014 (6.13% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 17.72 trillion | 2024 |
| Five years earlier | 48.43 trillion | 2019 |
| Ten years earlier | 33.35 trillion | 2014 |
| Highest | 49.92 trillion | 2022 |
| Lowest | 10.41 trillion | 2007 |
| Average since 2015 | 35.94 trillion | 2015–2024 |
| First recorded | 10.41 trillion |
What the numbers say
In 2024, Iraq's gross capital formation (constant LCU) fell 40.5% on 2023 (from 29.77 trillion to 17.72 trillion).
Across the 16 yearly changes before that (2008 to 2023), the average change was +11.8% and a typical year strayed about 34.3% from that (the standard deviation). This year's change was 1.5 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 76% in 2008 and the biggest yearly fall was 40.5% in 2024. 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 there is no clear straight-line trend: a straight line explains 12% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
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 2nd highest value of the 31 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
- Japan — 1st of 31: 153.45 trillion
- Kazakhstan — 3rd of 31: 7.77 trillion
- United States — 4th of 31: 5.41 trillion
- Angola — 5th of 31: 2.64 trillion
What this measures
Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 18 values
| Year | Gross capital formation (constant LCU) |
|---|---|
| 2024 | 17,722,436,041,003 |
| 2023 | 29,774,719,785,966 |
| 2022 | 49,922,820,357,187 |
| 2021 | 37,470,735,832,574 |
| 2020 | 31,518,847,876,106 |
| 2019 | 48,433,728,023,697 |
| 2018 | 34,936,233,900,985 |
| 2017 | 34,032,100,245,618 |
| 2016 | 34,157,237,516,315 |
| 2015 | 41,393,027,697,930 |
Gross capital formation (constant LCU) in nearby economies
- Algeria — 5.48 trillion (2025)
- Bahrain — 4.75 billion (2024)
- Djibouti — -13.38 billion (2025)
- Egypt, Arab Rep. — 1.15 trillion (2025)
- Iran, Islamic Rep. — 30,202.4 trillion (2025)
- Israel — 419.01 billion (2025)
- Kuwait — 6.3 billion (2024)
- Lebanon — 123.03 billion (2024)
- Libya — 10.11 billion (2025)
- Malta — 3.73 billion (2025)
- Morocco
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 gross capital formation (constant LCU)?
- 17.72 trillion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2007?
- It is up 70.21% from 10.41 trillion in 2007 (3.18% a year on average, compounded). The highest value was 49.92 trillion in 2022 and the lowest 10.41 trillion in 2007.
- How does Iraq rank?
- 2nd highest of 31 economies with data for 2024.
- Is the latest change in gross capital formation (constant LCU) unusual for Iraq?
- In 2024, Iraq's gross capital formation (constant LCU) fell 40.5% on 2023 (from 29.77 trillion to 17.72 trillion). Across the 16 yearly changes before that (2008 to 2023), the average change was +11.8% and a typical year strayed about 34.3% from that (the standard deviation). This year's change was 1.5 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NE.GDI.TOTL.KN, 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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