Iraq's terms of trade adjustment (constant LCU) was -25.43 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is down 531.81% from -4.02 trillion in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -25.43 trillion | 2024 |
| Five years earlier | -39.18 trillion | 2019 |
| Ten years earlier | -4.02 trillion | 2014 |
| Highest | 29.74 trillion | 2022 |
| Lowest | -67.66 trillion | 2016 |
| Average since 2015 | -33.28 trillion | 2015–2024 |
| First recorded | 0 |
What the numbers say
In 2024, Iraq's terms of trade adjustment (constant LCU) fell 7.6 trillion on 2023 (from -17.82 trillion to -25.43 trillion).
Across the 16 yearly changes before that (2008 to 2023), the average change was −1.11 trillion and a typical year strayed about 29.76 trillion from that (the standard deviation). This year's change was 0.2 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 54.25 trillion in 2021 and the biggest yearly fall was 56.25 trillion in 2015. 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 6.73 trillion a year. A straight line explains 47% 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 30th highest value of the 29 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
What this measures
The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant prices. 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 | Terms of trade adjustment (constant LCU) |
|---|---|
| 2024 | -25,426,207,675,293 |
| 2023 | -17,823,381,779,020 |
| 2022 | 29,743,615,389,828 |
| 2021 | -8,098,318,616,145 |
| 2020 | -62,347,968,989,780 |
| 2019 | -39,178,114,721,291 |
| 2018 | -30,963,084,042,007 |
| 2017 | -50,769,854,961,317 |
| 2016 | -67,661,923,278,738 |
| 2015 | -60,274,307,550,686 |
Terms of trade adjustment (constant LCU) in nearby economies
- Algeria — 668.42 billion (2025)
- Bahrain — 538.68 million (2024)
- Djibouti — 60.9 billion (2025)
- Egypt, Arab Rep. — -242.03 billion (2025)
- Iran, Islamic Rep. — -9,327.9 trillion (2025)
- Israel — 6.56 billion (2025)
- Kuwait — -4.52 billion (2024)
- Lebanon — -703.04 billion (2024)
- Libya — -30.15 billion (2025)
- Malta — -25.07 million (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 terms of trade adjustment (constant LCU)?
- -25.43 trillion in 2024, according to the World Bank (World Development Indicators).
- How does Iraq rank?
- 30th highest of 29 economies with data for 2024.
- Is the latest change in terms of trade adjustment (constant LCU) unusual for Iraq?
- In 2024, Iraq's terms of trade adjustment (constant LCU) fell 7.6 trillion on 2023 (from -17.82 trillion to -25.43 trillion). Across the 16 yearly changes before that (2008 to 2023), the average change was −1.11 trillion and a typical year strayed about 29.76 trillion from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
- Where does this data come from?
- The World Bank's World Development Indicators, 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).
Source
World Bank, World Development Indicators, indicator NY.TTF.GNFS.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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