Iraq vs Libya: Economic Indicators Comparison

Iraq with a GDP of $224.2B ranked the 50th largest economy in the world, while Libya ranked 86th with $48.4B. By GDP 5-years average growth and GDP per capita, Iraq and Libya ranked 85th vs 144th and 103rd vs 91st, respectively.

Gross Domestic Product & Income

StatIraqLibya
GDP$224.2B$48.4B
GDP growth, 1 year0.6%17.9%
GDP growth, 5-years average3.1%1.7%
Population38.3M6.7M
GDP per capita$5.8k$7.2k
GDP per capita growth-2.84%6.37%
Purchasing Power Parity conversion factor395.510.48
Price level ratio of PPP conversion factor GDP to market exchange rate0.330.35
GDP per capita, PPP adjusted$18k$11k
GNI, Atlas method$193.6B$42.8B
GNI per capita$5k$6.4k
GNI, PPP adjusted$661.5B$142.5B
GNI per capita, PPP adjusted$17k$21k

Financial system and Human development

StatIraqLibya
Income Tax Rate15%10%
Corporate Tax Rate15%N/A
Inflation, consumer prices0.4%23.1%
Inflation, GDP deflator15.4%15.8%
Unemployment7.9%17.3%
Economic Freedom Index2147
Personal Freedom Index3.215.17
Human Freedom Index4.284.98
Property Rights Index43.930.1
Judical Effectiveness Index11.220.8
Business Freedom Index52.640.7
Fiscal Health Index76.6N/A
Labor Freedom Index44.853.9
Investment Freedom IndexN/A5
Financial Freedom IndexN/AN/A
Trade Freedom IndexN/AN/A
Monetary Freedom Index76.453.6
Government Spending Index59.50
Tax Burden IndexN/AN/A
Government Integrity Index20.818.9
Corruption Perceptions Index1817
Life expectancy at birth, years70.372.5
Suicide mortality rate, per 100,000 people35.2
Mortality caused by road traffic injury, per 100,000 people20.726.1
Intentional homicides, per 100,000 people9.92.5
International tourism, number of arrivals892k142k

Government debt & reserves

StatIraqLibya
Central government debt, % of GDP48.4%4.9%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI-7%35%
Gross savings, % of GDP20.1%67.3%
Gross capital formation, % of GDP12.9%29.8%
Total reserves including gold$64.7B$85.3B
Foreign direct investment net inflows-$4.9B$0

Exports, imports and economic structure

StatIraqLibya
Exports of goods and services, % of GDP44%62.2%
Imports of goods and services, % of GDP35.9%40.1%
Current account balance (balance of payments)$34.4B-$4.7B
Revenue excluding grants, % of GDP26.3%N/A
Grants excluding technical cooperation, BoP$1.7B$268.9M
Personal remittances received$741.7M$16M
Industry including construction value added, % of GDP56.1%77.5%
Agriculture, forestry and fishing value added, % of GDP2%1.8%
Charges for the use of intellectual property, payments BoP$7.8MN/A
Charges for the use of intellectual property, receipts BoP$100k$10M
Expense, % of GDP25.3%N/A
Government Expenditure, % of GDP36.7%105.8%

Compare with countries close by GDP per capita

Iraq vs

CountryGDP
per capita
Population
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M

Libya vs

CountryGDP
per capita
Population
China
$9.8k
1.41B
Mexico
$9.7k
131M
Turkey
$9.4k
82M
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M