Iraq's gross fixed capital formation (constant LCU) was 10.13 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is down 73% from 37.52 trillion in 2014 (12.27% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 10.13 trillion | 2024 |
| Five years earlier | 43.9 trillion | 2019 |
| Ten years earlier | 37.52 trillion | 2014 |
| Highest | 47.77 trillion | 2015 |
| Lowest | 7.53 trillion | 2007 |
| Average since 2015 | 26.48 trillion | 2015–2024 |
| First recorded | 7.53 trillion |
What the numbers say
In 2024, Iraq's gross fixed capital formation (constant LCU) fell 39.8% on 2023 (from 16.83 trillion to 10.13 trillion).
Across the 16 yearly changes before that (2008 to 2023), the average change was +14.3% and a typical year strayed about 46.9% from that (the standard deviation). This year's change was 1.2 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 137.1% in 2008 and the biggest yearly fall was 65.4% in 2020. 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 downward, about 3.26 trillion a year. A straight line explains 65% 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 3rd 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: 154.67 trillion
- Kazakhstan — 3rd of 31: 7.5 trillion
- United States — 4th of 31: 5.33 trillion
- Angola — 5th of 31: 2.64 trillion
What this measures
Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. 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 fixed capital formation (constant LCU) |
|---|---|
| 2024 | 10,129,364,608,478 |
| 2023 | 16,833,264,204,368 |
| 2022 | 20,742,268,608,368 |
| 2021 | 20,074,823,488,961 |
| 2020 | 15,180,971,743,345 |
| 2019 | 43,904,128,619,649 |
| 2018 | 29,833,592,185,750 |
| 2017 | 29,918,527,462,798 |
| 2016 | 30,453,462,950,482 |
| 2015 | 47,771,840,462,390 |
Gross fixed capital formation (constant LCU) in nearby economies
- Algeria — 4.65 trillion (2025)
- Bahrain — 4.46 billion (2024)
- Djibouti — 190.96 billion (2025)
- Egypt, Arab Rep. — 1.03 trillion (2025)
- Iran, Islamic Rep. — 20,969.7 trillion (2025)
- Israel — 412.25 billion (2025)
- Lebanon — 123.03 billion (2024)
- Libya — 10.11 billion (2025)
- Malta — 3.55 billion (2025)
- Morocco — 356.42 billion (2024)
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 fixed capital formation (constant LCU)?
- 10.13 trillion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2007?
- It is up 34.51% from 7.53 trillion in 2007 (1.76% a year on average, compounded). The highest value was 47.77 trillion in 2015 and the lowest 7.53 trillion in 2007.
- How does Iraq rank?
- 3rd highest of 31 economies with data for 2024.
- Is the latest change in gross fixed capital formation (constant LCU) unusual for Iraq?
- In 2024, Iraq's gross fixed capital formation (constant LCU) fell 39.8% on 2023 (from 16.83 trillion to 10.13 trillion). Across the 16 yearly changes before that (2008 to 2023), the average change was +14.3% and a typical year strayed about 46.9% from that (the standard deviation). This year's change was 1.2 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.FTOT.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.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
Legal entity
Devansh Yadav
Moradabad, Uttar Pradesh
Governing law: Courts at Moradabad, Uttar Pradesh
Phone: +91 8433475698
Legal: legal@analyzeit.in