Skip to content

Economy of Iraq vs Qatar compared: GDP & Debt

Updated on by Georank

Iraq has a GDP of $254B compared to $216B for Qatar, ranking 54/197 and 56/197 by economy size, respectively.

Iraq has $137B in government debt (53.9% of GDP), compared to $89.2B (41.4% of GDP) in Qatar.

Iraq vs Qatar GDP by year

Iraq
Qatar
1x
Year GDP, current $
Iraq Qatar
2025 $254,367,293,538 $215,559,615,385
2024 $279,641,257,615 $216,294,505,495
2023 $268,881,051,644 $213,002,809,341
2022 $287,372,232,138 $235,709,325,714
2021 $209,691,945,713 $179,732,009,560
2020 $180,898,797,517 $144,411,363,352
2019 $233,636,097,800 $176,371,267,692
2018 $227,367,469,034 $183,334,953,819
2017 $187,217,660,051 $161,099,122,225
2016 $166,743,557,748 $151,732,181,868
2015 $166,774,104,959 $161,739,955,577
2014 $228,415,656,175 $206,224,598,571
2013 $234,637,675,129 $198,727,642,967
2012 $218,002,476,129 $186,833,502,363
2011 $185,749,664,444 $167,775,274,725
2010 $138,516,722,650 $125,122,252,747
2009 $111,657,580,326 $97,798,351,648
2008 $131,614,434,154 $115,269,780,220
2007 $88,837,057,320 $79,711,813,187
2006 $65,147,051,918 $60,882,142,857
2005 $50,065,104,668 $44,530,494,505
2004 $36,633,669,269 $31,734,065,934
2003 $21,921,569,479 $23,533,791,209
2002 $32,928,454,672 $19,363,736,264
2001 $36,176,430,129 $17,538,461,538
2000 $48,364,250,944 $17,759,890,110
1999 $36,881,601,584 $12,393,131,868
1998 $20,617,405,044 $10,255,494,505
1997 $20,764,857,056 $11,297,802,198
1996 $10,433,698,621 $9,059,340,659
1995 $12,894,029,888 $8,137,912,088
1994 $3,991,349,283 $7,374,450,549
1993 $1,031,944,881 $7,156,593,407
1992 $553,671,958 $7,646,153,846
1991 $407,796,350 $6,883,516,484
1990 $180,408,064,516 $7,360,439,560
1989 $65,831,935,484 $6,487,912,088
1988 $62,684,516,129 $6,038,186,813
1987 $56,774,193,548 $5,446,428,571
1986 $47,264,516,129 $5,053,021,978
1985 $48,425,161,290 $6,153,296,703
1984 $46,938,387,097 $6,870,329,670
1983 $40,712,903,226 $6,484,890,110
1982 $42,382,333,333 $7,611,263,736
1981 $37,823,000,000 $8,672,527,473
1980 $52,569,000,000 $7,837,915,956
1979 $37,816,457,839 $5,632,962,997
1978 $23,762,275,652 $4,052,000,413
1977 $19,838,130,715 $3,617,564,638
1976 $17,754,825,601 $3,284,273,987
1975 $13,458,516,763 $2,512,773,166
1974 $11,516,762,614 $2,401,403,227
1973 $5,134,367,778 $793,885,560
1972 $4,113,848,002 $510,262,500
1971 $3,865,346,535 $387,703,106
1970 $3,281,318,687 $301,791,302
1969 $3,007,758,797 -
1968 $2,896,598,841 -
1967 $2,551,522,656 -
1966 $2,530,306,096 -
1965 $2,335,785,506 -
1964 $2,136,408,198 -
1963 $1,805,901,510 -
1962 $1,784,174,541 -
1961 $1,671,960,965 -
1960 $1,537,252,193 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/iraq/qatar | CC BY

GDP per capita in Iraq vs Qatar by year

Iraq
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Iraq Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,410 - $72,525 -
2024 $6,074 $14,464 $75,685 $126,046
2023 $5,965 $14,653 $80,196 $129,368
2022 $6,521 $14,391 $88,701 $122,921
2021 $4,868 $12,732 $71,752 $116,833
2020 $4,295 $10,574 $51,684 $82,149
2019 $5,672 $12,249 $66,841 $107,503
2018 $5,647 $12,034 $71,040 $110,033
2017 $4,759 $10,192 $63,280 $99,358
2016 $4,334 $9,079 $61,254 $89,935
2015 $4,440 $9,334 $68,985 $102,546
2014 $6,249 $13,168 $95,841 $148,389
2013 $6,650 $14,669 $103,697 $169,203
2012 $6,478 $14,402 $108,470 $180,939
2011 $5,776 $12,912 $103,262 $174,620
2010 $4,462 $12,186 $77,387 $151,646
2009 $3,715 $11,687 $60,786 $125,898
2008 $4,543 $11,657 $80,781 $126,015
2007 $3,129 $10,783 $65,954 $124,056
2006 $2,277 $10,223 $62,582 $127,181
2005 $1,762 $9,457 $53,950 $115,250
2004 $1,328 $9,290 $41,036 $110,958
2003 $818 $6,068 $31,602 $94,120
2002 $1,266 $9,682 $27,227 $93,177
2001 $1,436 $10,720 $25,871 $89,805
2000 $1,980 $10,628 $27,535 $88,849
1999 $1,560 $9,194 $20,234 $84,690
1998 $901 $7,964 $17,665 $84,486
1997 $936 $6,020 $20,523 $79,219
1996 $485 $5,034 $17,125 $62,331
1995 $619 $4,598 $15,823 $60,321
1994 $198.2 $4,560 $14,765 $59,415
1993 $53.7 $4,509 $14,770 $59,125
1992 $30.3 $3,547 $16,280 $60,387
1991 $23 $2,694 $15,133 $54,759
1990 $10,261 - $16,722 $55,659
1989 $3,791 - $15,243 -
1988 $3,707 - $14,682 -
1987 $3,436 - $13,719 -
1986 $2,940 - $13,213 -
1985 $3,088 - $16,815 -
1984 $3,066 - $19,749 -
1983 $2,743 - $19,669 -
1982 $2,942 - $24,431 -
1981 $2,700 - $29,543 -
1980 $3,868 - $28,407 -
1979 $2,871 - $21,777 -
1978 $1,863 - $16,757 -
1977 $1,609 - $16,058 -
1976 $1,489 - $15,710 -
1975 $1,166 - $13,014 -
1974 $1,031 - $13,540 -
1973 $476 - $4,905 -
1972 $394 - $3,483 -
1971 $384 - $2,952 -
1970 $337 - $2,594 -
1969 $320 - - -
1968 $319 - - -
1967 $290.6 - - -
1966 $298.2 - - -
1965 $284.8 - - -
1964 $269.4 - - -
1963 $235.5 - - -
1962 $240.7 - - -
1961 $232.4 - - -
1960 $218.9 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/iraq/qatar | CC BY

Iraq's GDP per capita is $5,410, ranking 119/197, compared to $72,525 in Qatar, ranking 13/197. Adjusted for purchasing power (GDP per capita PPP), Iraq ranks 115th at $14,464, while Qatar ranks 5th at $126,046.

Economic indicators

Iraq Qatar
Gross domestic product
$254B
2025
$216B
2025
GDP rank
54/197
2025
56/197
2025
GDP growth
-2.16%
2024-2025
2.9%
2024-2025
GDP per capita
$5,410
2025
$72,525
2025
GDP per capita rank
119/197
2025
13/197
2025
GDP per capita, PPP
$14,464
2024
$126,046
2024
GDP per capita PPP rank
115/197
2024
5/197
2024
Government debt
$137B
2025
$89.2B
2025
Debt-to-GDP ratio
53.9%
2025
41.4%
2025
Government debt per person
$2,917
2025
$30,009
2025
Government debt per person rank
108/185
2025
24/185
2025
Average annual personal income after taxes
$6,782
2026
$37,042
2026
Market capitalization of domestic companies n/a
$177B
2025
Number of millionaires n/a
30,000
2026
Number of billionaires n/a
2
2026
Income share by richest 10%
24.2%
2023
25.8%
2017
Income share by poorest 10%
3.7%
2023
2.6%
2017
Government expenditure, % of GDP
42.7%
2025
27.1%
2025
Consumer prices inflation
0.3%
2024-2025
0.6%
2024-2025
Central bank interest rate n/a
4.1%
2025
Unemployment rate
16.2%
2021
0.1%
2024
Population
48531417
3058826

Spending and national debt comparison by year

Iraq
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Iraq Qatar
Government spending Government debt Government spending Government debt
2025 42.7% 53.9% 27.1% 41.4%
2024 41.7% 45.2% 26% 41.3%
2023 41.2% 42.1% 26.7% 42.8%
2022 33.9% 39% 24.3% 42.6%
2021 36.3% 54.7% 29.4% 58.4%
2020 41.9% 72.5% 34.7% 72.6%
2019 34.7% 41.7% 32.5% 62.1%
2018 31.1% 44.4% 28.9% 52.2%
2017 35.5% 55.9% 34.7% 51.6%
2016 42.4% 60.3% 40.1% 46.7%
2015 43.5% 48.3% 38.6% 35.5%
2014 43.8% 27.6% 32.3% 24.9%
2013 48.2% 32% 28.3% 30.9%
2012 42.9% 34.8% 31% 32.1%
2011 43.4% 40.7% 28.5% 33.5%
2010 49.6% 53.5% 32% 30.4%
2009 61.1% 87.4% 36.4% 36%
2008 57.3% 74.2% 23.5% 11.4%
2007 44% 117.1% 29.5% 9.37%
2006 50.3% 143.2% 29.5% 13.9%
2005 63.2% 227.3% 29% 19.1%
2004 91.5% 344% 29.9% 30.1%
2003 - - 28.5% 38.8%
2002 - - 31.6% 47.7%
2001 - - 32.1% 59.2%
2000 - - 29.8% 51.6%
1999 - - 42.4% 81.8%
1998 - - 55.1% 76.6%
1997 - - 47.6% 54.4%
1996 - - 55.2% 57.8%
1995 - - 52.2% 50.2%
1994 - - 59.8% 54.8%
1993 - - 62.8% 46.3%
1992 - - 54.2% 19.9%
1991 - - 57.5% 21.8%
1990 - - 50% 12.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/iraq/qatar | CC BY

In 2025, Iraq's government spending was $109B, accounting for 42.7% of its GDP, while Qatar spent $58.4B, or 27.1% of GDP.

Debt-to-GDP ratio is 53.9% in Iraq and 41.4% in Qatar, ranking 95/185 and 127/185, respectively.

Government deficit by year

Deficit/surplus
Iraq

Qatar
1x
Year Deficit/surplus, % of GDP
Iraq Qatar
2025 -6.41% -1%
2024 -3.45% 0.71%
2023 -1.14% 5.51%
2022 8.1% 10.4%
2021 -0.38% 0.24%
2020 -12.8% -2.13%
2019 0.83% 1%
2018 7.69% 2.26%
2017 -1.52% -6.82%
2016 -14.4% -9.2%
2015 -12.8% 18.4%
2014 -5.63% 13.4%
2013 -6.06% 19.3%
2012 4.09% 8.55%
2011 4.74% 5.24%
2010 -4.18% 4.6%
2009 -14.9% 14.1%
2008 -0.86% 9.49%
2007 9.98% 10.3%
2006 10.7% 8.39%
2005 4.07% 9.8%
2004 -35.4% 17.7%
2003 - 6.71%
2002 - 7.89%
2001 - 4.48%
2000 - 4.62%
1999 - -4.35%
1998 - -7%
1997 - -9.4%
1996 - -8.73%
1995 - -5.78%
1994 - -11.8%
1993 - -9.53%
1992 - -2.74%
1991 - -2.57%
1990 - 3.23%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/iraq/qatar | CC BY

In 2025, Iraq's government deficit, the difference between spending and revenue, was $16.3B, equivalent to 6.41% of GDP. This compares to Qatar's deficit of $2.16B, or 1% of GDP.

Over the past 22 years, Iraq recorded a fiscal deficit in 14 of those years, while Qatar ran a deficit in 4 years. On average, Iraq posted an annual deficit equal to 3.17% of GDP, compared to surplus of 6.38% of GDP for Qatar.

Inflation comparison by year

Inflation
Iraq

Qatar
1x
Year Consumer prices inflation
Iraq Qatar
2025 0.3% 0.6%
2024 2.61% 1.2%
2023 4.36% 3.1%
2022 4.99% 5%
2021 6.04% 2.3%
2020 0.57% -2.5%
2019 -0.2% -0.9%
2018 0.37% 0.1%
2017 0.18% 0.6%
2016 0.56% 2.7%
2015 1.39% 0.9%
2014 2.24% 4.2%
2013 1.88% 3.1%
2012 6.09% 1.8%
2011 5.6% 2%
2010 2.43% -2.4%
2009 6.87% -4.9%
2008 12.7% 15.1%
2007 -10.1% 13.7%
2006 53.2% 11.7%
2005 37% 9%
2004 27% 6.8%
2003 33.6% 2.3%
2002 19.3% 0.2%
2001 16.4% 1.7%
2000 4.98% 1.6%
1999 12.6% 2.2%
1998 14.8% 2.9%
1997 23.1% 2.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/iraq/qatar | CC BY

Over the past 29 years, Iraq has recorded an average annual inflation rate of 10%, compared with 2.99% in Qatar. In 2025, inflation was 0.3% in Iraq and 0.6% in Qatar.

Top exports between countries

Iraq
Export category Export value
Qatar
Export category Export value
Machinery & equipment $30.7M
Metals $5.34M
Chemicals & pharma $4.59M
Wood & paper products $2.68M
Textiles & consumer goods $2.67M
Raw materials & minerals $597K
Processed food, beverages & tobacco $258K
Animal & marine products $250K
Raw agricultural goods $180K
Weapons & explosives $142K

Balance of trade

Iraq Qatar
Current account balance
$8.37B
2024
$31.9B
2025
Current account balance ranking
27/190
2024
17/190
2025
Current account balance, % of GDP
+2.99%
2024
+14.8%
2025
Goods imports
$74.3B
2024
$34.3B
2025
Goods exports
$101B
2024
$90B
2025
Service imports
$30.2B
2024
$31.3B
2025
Service exports
$10.2B
2024
$24.4B
2025
Imports of goods and services, % of GDP
37.4%
2024
31.6%
2022
Exports of goods and services, % of GDP
39.8%
2024
68.6%
2022

Economic freedom indices

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

Iraq Qatar
Economic freedom 15.6 70.2
Economic freedom ranking 196/197 37/197
Property rights 8.3 66.2
Government integrity 20.2 53.5
Judicial effectiveness 5.8 41.5
Tax burden 85.5 99.9
Government spending 65.3 79.9
Fiscal health 95.7 96.6
Business freedom 42.8 68
Labor freedom 60.6 58.5
Monetary freedom 68.6 76
Trade freedom 40 81.8
Investment freedom 10 60
Financial freedom 10 60

Economic freedom comparison by year

Iraq
Qatar
1x
Year Economic freedom index
Iraq Qatar
2026 - 70.2
2025 - 70.2
2024 - 68.8
2023 - 68.6
2022 - 67.7
2021 - 72
2020 - 72.3
2019 - 72.6
2018 - 72.6
2017 - 73.1
2016 - 70.7
2015 - 70.8
2014 - 71.2
2013 - 71.3
2012 - 71.3
2011 - 70.5
2010 - 69
2009 - 65.8
2008 - 62.2
2007 - 62.9
2006 - 62.4
2005 - 63.5
2004 - 66.5
2003 - 65.9
2002 15.6 61.9
2001 17.2 60
2000 17.2 62
1999 17.2 62
1998 17.2 -
1997 17.2 -
1996 17.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/iraq/qatar | CC BY

The Economic Freedom Index for Iraq is 15.6, ranking 196/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Iraq Qatar
Services, % of GDP
52.3%
2025
47%
2025
Industry, % of GDP
45.4%
2025
57%
2025
Agriculture, forestry, and fishing, % of GDP
3.41%
2025
0.31%
2025
GNI, Atlas method
$267B
2025
$221B
2025
GNI per capita, PPP
$14,290
2025
$126,290
2025
Total reserves including gold
$101B
2024
$55.8B
2025
Total reserves ranking
30/177
2024
45/177
2025
Net foreign direct investment
$8.09B
2024
$311M
2025
Net inflows of foreign direct investment
-$7.65B
2024
$460M
2024
Net outflows of foreign direct investment
$439M
2024
$1.56B
2024
Servicing debt to the IMF, % of GNI
1.22%
2024
n/a
Poverty at national poverty lines
17.5%
2023
n/a
Gross capital formation, % of GDP
19.1%
2024
30.6%
2022

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/iraq/qatar | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.