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Economy of Iraq vs Mauritius compared: GDP & Debt

Updated on by Georank team

Iraq has a GDP of $280B compared to $14.9B for Mauritius, ranking 50/197 and 143/197 by economy size, respectively.

Iraq has $120B in government debt (56% of GDP), compared to $13.6B (91.3% of GDP) in Mauritius.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Iraq
GDP, current $

GDP, constant 2015 $
Mauritius
GDP, current $

GDP, constant 2015 $
Year GDP
Iraq Mauritius
Current $ Constant $ Current $ Constant $
1960 $1,537,252,193 $7,007,485,325 $162,089,564 $968,988,710
1961 $1,671,960,965 $7,520,837,448 $191,757,729 $1,190,393,861
1962 $1,784,174,541 $7,867,047,599 $197,738,208 $1,199,994,232
1963 $1,805,901,510 $8,059,609,508 $253,839,558 $1,366,727,738
1964 $2,136,408,198 $9,254,568,662 $218,914,569 $1,272,567,126
1965 $2,335,785,506 $10,250,719,342 $230,024,161 $1,313,250,841
1966 $2,530,306,096 $10,759,449,895 $227,534,083 $1,266,391,365
1967 $2,551,522,656 $9,806,505,272 $238,439,291 $1,321,911,601
1968 $2,896,598,841 $11,719,960,412 $206,576,631 $1,230,836,442
1969 $3,007,758,797 $12,100,177,781 $221,553,613 $1,291,553,246
1970 $3,281,318,687 $12,650,053,065 $224,125,805 $1,286,356,771
1971 $3,865,346,535 $13,329,936,812 $251,437,338 $1,341,330,044
1972 $4,113,848,002 $13,827,850,447 $318,664,900 $1,453,282,307
1973 $5,134,367,778 $14,438,869,358 $404,285,775 $1,627,410,035
1974 $11,516,762,614 $16,765,457,418 $669,894,030 $1,770,814,578
1975 $13,458,516,763 $18,859,574,485 $673,311,287 $1,786,859,757
1976 $17,754,825,601 $22,098,725,967 $713,510,052 $2,211,282,621
1977 $19,838,130,715 $22,518,592,787 $834,722,972 $2,356,068,983
1978 $23,762,275,652 $26,359,581,202 $1,029,040,323 $2,446,325,417
1979 $37,816,457,839 $31,860,629,534 $1,227,446,632 $2,532,351,080
1980 $52,569,000,000 $39,747,322,740 $1,147,027,924 $2,277,564,692
1981 $37,823,000,000 $39,457,673,065 $1,157,769,444 $2,411,539,084
1982 $42,382,333,333 $40,812,640,889 $1,092,923,636 $2,544,103,219
1983 $40,712,903,226 $35,477,076,846 $1,104,956,573 $2,553,867,368
1984 $46,938,387,097 $34,950,156,507 $1,054,564,759 $2,673,857,908
1985 $48,425,161,290 $35,458,295,527 $1,090,611,325 $2,859,810,700
1986 $47,264,516,129 $37,106,251,927 $1,482,601,552 $3,138,414,411
1987 $56,774,193,548 $40,559,093,083 $1,906,174,438 $3,417,452,086
1988 $62,684,516,129 $40,551,371,874 $2,163,252,449 $3,649,543,107
1989 $65,831,935,484 $39,286,763,062 $2,211,312,823 $3,812,500,631
1990 $180,408,064,516 $62,001,516,292 $2,689,212,760 $4,086,495,015
1991 $407,796,350 $22,291,338,827 $2,895,354,736 $4,267,749,306
1992 $553,671,958 $29,556,579,056 $3,267,677,814 $4,545,694,954
1993 $1,031,944,881 $38,509,216,456 $3,307,302,126 $4,776,710,033
1994 $3,991,349,283 $39,993,566,700 $3,606,050,873 $4,974,281,585
1995 $12,894,029,888 $40,841,438,912 $4,094,741,652 $5,187,565,675
1996 $10,433,698,621 $45,342,486,348 $4,481,489,762 $5,477,438,749
1997 $20,764,857,056 $54,972,294,638 $4,243,755,308 $5,788,966,841
1998 $20,617,405,044 $74,213,129,684 $4,225,813,976 $6,140,469,444
1999 $36,881,601,584 $87,259,924,322 $4,402,193,195 $6,300,792,947
2000 $48,364,250,944 $101,916,218,527 $4,726,108,622 $6,817,633,871
2001 $36,176,430,129 $103,716,679,378 $4,675,755,867 $7,045,856,941
2002 $32,928,454,672 $95,208,069,161 $4,906,494,249 $7,159,641,800
2003 $21,921,569,479 $60,307,856,289 $5,894,873,920 $7,583,882,472
2004 $36,633,669,269 $92,503,535,427 $6,667,418,752 $7,912,266,089
2005 $50,065,104,668 $94,053,181,142 $6,576,108,447 $8,052,910,022
2006 $65,147,051,918 $99,356,180,856 $7,137,710,413 $8,444,727,952
2007 $88,837,057,320 $101,232,561,441 $8,277,442,915 $8,928,358,886
2008 $131,614,434,154 $109,562,085,020 $10,127,777,060 $9,409,326,235
2009 $111,657,580,326 $113,264,515,567 $9,264,513,545 $9,721,252,645
2010 $138,516,722,650 $120,516,349,622 $10,144,716,155 $10,146,771,629
2011 $185,749,664,444 $129,611,081,239 $11,677,718,382 $10,560,510,104
2012 $218,002,476,129 $147,674,239,073 $11,832,323,837 $10,929,718,038
2013 $234,637,675,129 $158,939,252,264 $12,434,596,541 $11,297,000,949
2014 $228,415,656,175 $162,537,141,324 $13,230,490,082 $11,729,333,766
2015 $166,774,104,959 $166,774,104,959 $12,162,211,503 $12,162,211,503
2016 $166,743,557,748 $189,767,872,908 $12,757,680,847 $12,631,973,063
2017 $187,217,660,051 $186,314,571,375 $13,896,938,315 $13,129,418,116
2018 $227,367,469,034 $191,221,819,559 $14,957,535,716 $13,655,479,839
2019 $233,636,097,800 $201,765,390,224 $14,645,235,205 $14,050,298,678
2020 $180,898,797,517 $177,479,307,670 $11,566,111,138 $12,006,466,621
2021 $209,691,945,713 $180,145,367,593 $11,622,048,697 $12,415,142,571
2022 $287,372,232,138 $194,483,223,959 $12,936,444,123 $13,494,399,202
2023 $268,881,051,644 $195,490,074,355 $14,072,212,290 $14,170,187,785
2024 $279,641,257,615 $192,469,260,104 $14,937,861,786 $14,868,086,969

Economic indicators

Iraq Mauritius
Gross domestic product
$280B
2024
$14.9B
2024
GDP rank
50/197
2024
143/197
2024
GDP growth
4%
2023-2024
6.15%
2023-2024
GDP per capita
$6,074
2024
$11,991
2024
GDP per capita rank
113/197
2024
78/197
2024
GDP per capita, PPP
$14,464
2024
$31,840
2024
Government debt
$120B
2024
$13.6B
2024
Debt-to-GDP ratio
56%
2026
91.3%
2026
Government debt per person
$2,606
2024
$10,955
2024
Government debt per person rank
109/185
2024
52/185
2024
Average annual personal income after taxes
$6,159
2026
$7,323
2026
Market capitalization of domestic companies n/a
$9.12B
2024
Income share by richest 10%
24.2%
2023
29.9%
2017
Income share by poorest 10%
3.7%
2023
2.9%
2017
Government expenditure, % of GDP
42.1%
2026
30.8%
2026
Consumer prices inflation
-12.3%
2023-2024
3.6%
2023-2024
Central bank interest rate n/a
4.5%
2025
Unemployment rate
16.2%
2021
5.57%
2023
Population
48018145
1239793

GDP per capita in Iraq vs Mauritius

Iraq's GDP per capita is $6,074, ranking 113/197, compared to $11,991 in Mauritius, ranking 78/197. Adjusted for purchasing power (GDP per capita PPP), Iraq ranks 115th at $14,464, while Mauritius ranks 71st at $31,840.

Iraq
GDP per capita

GDP per capita, PPP
Mauritius
GDP per capita

GDP per capita, PPP
Year Current $
Iraq Mauritius
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $218.9 - $238.3 -
1961 $232.4 - $281.7 -
1962 $240.7 - $282.3 -
1963 $235.5 - $353 -
1964 $269.4 - $297.3 -
1965 $284.8 - $305 -
1966 $298.2 - $296 -
1967 $290.6 - $304 -
1968 $319 - $258.7 -
1969 $320 - $272.7 -
1970 $337 - $271.3 -
1971 $384 - $299.6 -
1972 $394 - $374 -
1973 $476 - $467 -
1974 $1,031 - $763 -
1975 $1,166 - $755 -
1976 $1,489 - $787 -
1977 $1,609 - $906 -
1978 $1,863 - $1,102 -
1979 $2,871 - $1,292 -
1980 $3,868 - $1,187 -
1981 $2,700 - $1,181 -
1982 $2,942 - $1,101 -
1983 $2,743 - $1,103 -
1984 $3,066 - $1,042 -
1985 $3,088 - $1,069 -
1986 $2,940 - $1,442 -
1987 $3,436 - $1,840 -
1988 $3,707 - $2,074 -
1989 $3,791 - $2,103 -
1990 $10,261 - $2,540 $5,010
1991 $23 $2,694 $2,705 $5,351
1992 $30.3 $3,547 $3,013 $5,753
1993 $53.7 $4,509 $3,014 $6,116
1994 $198.2 $4,560 $3,240 $6,414
1995 $619 $4,598 $3,648 $6,771
1996 $485 $5,034 $3,952 $7,206
1997 $936 $6,020 $3,696 $7,651
1998 $901 $7,964 $3,642 $8,121
1999 $1,560 $9,194 $3,746 $8,344
2000 $1,980 $10,628 $3,982 $9,143
2001 $1,436 $10,720 $3,909 $9,586
2002 $1,266 $9,682 $4,073 $9,824
2003 $818 $6,068 $4,858 $10,535
2004 $1,328 $9,290 $5,461 $11,216
2005 $1,762 $9,457 $5,354 $11,703
2006 $2,277 $10,223 $5,784 $12,593
2007 $3,129 $10,783 $6,677 $13,612
2008 $4,543 $11,657 $8,141 $14,569
2009 $3,715 $11,687 $7,427 $15,105
2010 $4,462 $12,186 $8,113 $15,920
2011 $5,776 $12,912 $9,324 $16,884
2012 $6,478 $14,402 $9,422 $17,259
2013 $6,650 $14,669 $9,877 $18,435
2014 $6,249 $13,168 $10,490 $19,294
2015 $4,440 $9,334 $9,631 $20,270
2016 $4,334 $9,079 $10,095 $21,952
2017 $4,759 $10,192 $10,987 $22,898
2018 $5,647 $12,034 $11,819 $23,416
2019 $5,672 $12,249 $11,568 $24,375
2020 $4,295 $10,574 $9,136 $21,622
2021 $4,868 $12,732 $9,178 $23,010
2022 $6,521 $14,391 $10,247 $26,874
2023 $5,965 $14,653 $11,270 $29,561
2024 $6,074 $14,464 $11,991 $31,840

Spending and national debt comparison

In 2024, Iraq's government spending was $113B, accounting for 42.1% of its GDP, while Mauritius' spent $5.04B, or 30.8% of GDP.

Debt-to-GDP ratio is 56% in Iraq and 91.3% in Mauritius, ranking 92/185 and 28/185, respectively.

Iraq
Government spending

Government debt
Mauritius
Government spending

Government debt
Year % of GDP
Iraq Mauritius
Government spending Government debt Government spending Government debt
1990 - - 30.2% -
1991 - - 27.2% -
1992 - - 26.8% -
1993 - - 24.5% -
1994 - - 27.5% -
1995 - - 27.3% -
1996 - - 27.4% -
1997 - - 27.5% -
1998 - - 26.6% -
1999 - - 27.5% -
2000 - - 22.2% 59.7%
2001 - - 22.4% 60.5%
2002 - - 23.3% 66.7%
2003 - - 23.4% 70.8%
2004 91.5% 344% 22.6% 61.1%
2005 63.2% 227.3% 23% 61.7%
2006 50.3% 143.2% 22.2% 59.3%
2007 44% 117.1% 21.5% 51.6%
2008 57.3% 74.2% 22.7% 49.4%
2009 61.1% 87.4% 25.2% 58.4%
2010 49.6% 53.5% 24% 56.4%
2011 43.4% 40.7% 23.7% 56.5%
2012 42.9% 34.8% 22.5% 55.9%
2013 48.2% 32% 24.1% 58.2%
2014 43.8% 27.6% 23% 60.6%
2015 43.5% 48.3% 24.5% 65%
2016 42.4% 60.3% 24% 64.3%
2017 35.5% 55.9% 24.3% 63%
2018 31.1% 44.4% 24.3% 64.1%
2019 34.7% 41.7% 27.8% 74.6%
2020 41.9% 72.5% 32.6% 93.4%
2021 36.3% 54.7% 30.8% 93.8%
2022 33.9% 39% 29.3% 86.9%
2023 41.2% 42.1% 29.9% 85.6%
2024 40.4% 42.9% 33.7% 91.4%
2025 42.1% 50.2% 31.9% 93.2%
2026 42.1% 56% 30.8% 91.3%

Government deficit by year

In 2024, Iraq's government deficit, the difference between spending and revenue, was -$4.17B, equivalent to -1.49% of GDP. This compares to Mauritius' deficit of -$1.06B, or -7.11% of GDP.

Over the past 21 years, Iraq recorded a fiscal deficit in 13 of those years, while Mauritius ran a deficit in 21 years. On average, Iraq posted an annual deficit equal to -2.93% of GDP, compared to deficit of -4.02% of GDP for Mauritius.

Deficit/surplus
Iraq

Mauritius
Year Deficit/surplus, % of GDP
Iraq Mauritius
2000 - -4.4%
2001 - -5.53%
2002 - -5.18%
2003 - -4.82%
2004 -35.4% -4.34%
2005 4.07% -4.44%
2006 10.7% -4.14%
2007 9.98% -3.09%
2008 -0.86% -2.66%
2009 -14.9% -3.41%
2010 -4.18% -3.07%
2011 4.74% -3.09%
2012 4.09% -1.78%
2013 -6.06% -3.4%
2014 -5.63% -3.13%
2015 -12.8% -3.59%
2016 -14.4% -2.81%
2017 -1.52% -1.66%
2018 7.69% -2.19%
2019 0.83% -7.53%
2020 -12.8% -10.6%
2021 -0.38% -4.44%
2022 8.1% -3.31%
2023 -1.14% -4.71%
2024 -1.49% -7.11%
2025 -4.18% -3.75%
2026 -6.36% -2.43%

Inflation comparison by year

Over the past 28 years, Iraq has recorded an average annual inflation rate of 9.86%, compared with 4.92% in Mauritius. In 2024, inflation was -12.3% in Iraq and 3.6% in Mauritius.

Inflation
Iraq

Mauritius
Year Inflation
Iraq Mauritius
1997 23.1% 6.83%
1998 14.8% 6.81%
1999 12.6% 6.91%
2000 4.98% 4.2%
2001 16.4% 5.39%
2002 19.3% 6.42%
2003 33.6% 3.92%
2004 27% 4.71%
2005 37% 4.94%
2006 53.2% 8.91%
2007 -10.1% 8.83%
2008 12.7% 9.73%
2009 6.87% 2.52%
2010 2.88% 2.93%
2011 5.8% 6.52%
2012 6.09% 3.85%
2013 1.88% 3.54%
2014 2.24% 3.22%
2015 1.39% 1.29%
2016 0.56% 0.98%
2017 0.18% 3.67%
2018 0.37% 3.22%
2019 -0.2% 0.41%
2020 0.57% 2.58%
2021 6.04% 4.03%
2022 4.99% 10.8%
2023 4.36% 7.05%
2024 -12.3% 3.6%

Top exports between countries

Iraq
Export category Export value
Mauritius
Export category Export value
Textiles & consumer goods $2K
Machinery & equipment $1K

Balance of trade

Iraq Mauritius
Current account balance
$8.37B
2024
-$1.05B
2024
Current account balance ranking
24/190
2024
126/190
2024
Current account balance, % of GDP
+2.99%
2024
-7.03%
2024
Goods imports
$74.3B
2024
$6.35B
2024
Goods exports
$101B
2024
$2.37B
2024
Service imports
$30.2B
2024
$2.28B
2024
Service exports
$10.2B
2024
$4.19B
2024
Imports of goods and services, % of GDP
33.2%
2024
78.3%
2024
Exports of goods and services, % of GDP
37.5%
2024
67.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Iraq Mauritius
Economic freedom 15.6 75
Economic freedom ranking 196/197 18/197
Property rights 6.3 86.4
Government integrity 19.9 53.2
Judicial effectiveness 7.1 81
Tax burden 95.5 89.8
Government spending 65.3 77.1
Fiscal health 94.7 64.9
Business freedom 43.1 82.9
Labor freedom 56.8 69.3
Monetary freedom 67.1 67.4
Trade freedom 40 87.4
Investment freedom 10 70
Financial freedom 10 70

Economic freedom by year comparison

The Economic Freedom Index for Iraq is 15.6, ranking 196/197, compared to 75 for Mauritius, ranking 18/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Iraq
Mauritius
Year Economic freedom index
Iraq Mauritius
1996 17.2 -
1997 17.2 -
1998 17.2 -
1999 17.2 68.5
2000 17.2 67.2
2001 17.2 66.4
2002 15.6 67.7
2003 - 64.4
2004 - 64.3
2005 - 67.2
2006 - 67.4
2007 - 69.4
2008 - 72.6
2009 - 74.3
2010 - 76.3
2011 - 76.2
2012 - 77
2013 - 76.9
2014 - 76.5
2015 - 76.4
2016 - 74.7
2017 - 74.7
2018 - 75.1
2019 - 73
2020 - 74.9
2021 - 77
2022 - 70.9
2023 - 70.6
2024 - 71.5
2025 - 75

More economic indicators

Iraq Mauritius
Services, % of GDP
45.8%
2024
64.4%
2024
Industry, % of GDP
51.6%
2024
17.8%
2024
Agriculture, forestry, and fishing, % of GDP
3.39%
2024
4.23%
2024
GNI, Atlas method
$277B
2024
$16.2B
2024
GNI per capita, PPP
$14,530
2024
$35,100
2024
Total reserves including gold
$101B
2024
$8.51B
2024
Total reserves ranking
28/177
2024
83/177
2024
Net foreign direct investment
$8.09B
2024
$963M
2024
Net inflows of foreign direct investment
-$7.65B
2024
$681M
2024
Net outflows of foreign direct investment
$439M
2024
$38.3M
2024
Servicing debt to the IMF, % of GNI
1.22%
2024
10.1%
2024
Poverty at national poverty lines
17.5%
2023
8.4%
2023
Gross capital formation, % of GDP
28.2%
2024
21.2%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.