Iraq vs Luxembourg: Economic Indicators Comparison

Iraq with a GDP of $224.2B ranked the 50th largest economy in the world, while Luxembourg ranked 72nd with $70.9B. By GDP 5-years average growth and GDP per capita, Iraq and Luxembourg ranked 85th vs 88th and 103rd vs 3rd, respectively.

Gross Domestic Product & Income

StatIraqLuxembourg
GDP$224.2B$70.9B
GDP growth, 1 year0.6%3%
GDP growth, 5-years average3.1%3%
Population38.3M626k
GDP per capita$5.8k$117k
GDP per capita growth-2.84%1.18%
Purchasing Power Parity conversion factor395.510.87
Price level ratio of PPP conversion factor GDP to market exchange rate0.331.03
GDP per capita, PPP adjusted$18k$107k
GNI, Atlas method$193.6B$43.1B
GNI per capita$5k$71k
GNI, PPP adjusted$661.5B$43.9B
GNI per capita, PPP adjusted$17k$72k

Financial system and Human development

StatIraqLuxembourg
Income Tax Rate15%42%
Corporate Tax Rate15%18%
Inflation, consumer prices0.4%2%
Inflation, GDP deflator15.4%2.5%
Unemployment7.9%5.5%
Economic Freedom Index2175.8
Personal Freedom Index3.219.1
Human Freedom Index4.288.46
Property Rights Index43.986.4
Judical Effectiveness Index11.274.4
Business Freedom Index52.666.8
Fiscal Health Index76.699
Labor Freedom Index44.845.3
Investment Freedom IndexN/A95
Financial Freedom IndexN/A80
Trade Freedom IndexN/A86.4
Monetary Freedom Index76.476.4
Government Spending Index59.545.4
Tax Burden IndexN/A64.1
Government Integrity Index20.890.3
Corruption Perceptions Index1881
Life expectancy at birth, years70.382.7
Suicide mortality rate, per 100,000 people313.5
Mortality caused by road traffic injury, per 100,000 people20.76.3
Intentional homicides, per 100,000 people9.90.3
International tourism, number of arrivals892k1M

Government debt & reserves

StatIraqLuxembourg
Central government debt, % of GDP48.4%21.8%
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%20.9%
Gross savings, % of GDP20.1%17.4%
Gross capital formation, % of GDP12.9%17.6%
Total reserves including gold$64.7B$938.9M
Foreign direct investment net inflows-$4.9B-$5.6B

Exports, imports and economic structure

StatIraqLuxembourg
Exports of goods and services, % of GDP44%211.6%
Imports of goods and services, % of GDP35.9%175.5%
Current account balance (balance of payments)$34.4B$3.4B
Revenue excluding grants, % of GDP26.3%40.9%
Grants excluding technical cooperation, BoP$1.7BN/A
Personal remittances received$741.7M$2.1B
Industry including construction value added, % of GDP56.1%11.8%
Agriculture, forestry and fishing value added, % of GDP2%0.2%
Charges for the use of intellectual property, payments BoP$7.8M$5B
Charges for the use of intellectual property, receipts BoP$100k$2.4B
Expense, % of GDP25.3%38.7%
Government Expenditure, % of GDP36.7%42.7%

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
Libya
$7.2k
6.68M
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

Luxembourg vs

CountryGDP
per capita
Population
Monaco
$186k
38.7k
Liechtenstein
$165k
37.9k
Switzerland
$83k
8.47M
Norway
$82k
5.37M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k