Iraq vs Somalia: Economic Indicators Comparison

Iraq with a GDP of $224.2B ranked the 50th largest economy in the world, while Somalia ranked 159th with $4.7B. By GDP 5-years average growth and GDP per capita, Iraq and Somalia ranked 85th vs 97th and 103rd vs 196th, respectively.

Gross Domestic Product & Income

Stat	Iraq	Somalia
GDP	$224.2B	$4.7B
GDP growth, 1 year	0.6%	3.1%
GDP growth, 5-years average	3.1%	2.9%
Population	38.3M	11M
GDP per capita	$5.8k	$315
GDP per capita growth	-2.84%	-2.74%
Purchasing Power Parity conversion factor	395.51	11427.68
Price level ratio of PPP conversion factor GDP to market exchange rate	0.33	N/A
GDP per capita, PPP adjusted	$18k	$500
GNI, Atlas method	$193.6B	$959.2M
GNI per capita	$5k	$130
GNI, PPP adjusted	$661.5B	N/A
GNI per capita, PPP adjusted	$17k	N/A

Financial system and Human development

Stat	Iraq	Somalia
Income Tax Rate	15%	N/A
Corporate Tax Rate	15%	N/A
Inflation, consumer prices	0.4%	1.5%
Inflation, GDP deflator	15.4%	215.5%
Unemployment	7.9%	14%
Economic Freedom Index	21	29
Personal Freedom Index	3.21	3.6
Human Freedom Index	4.28	3.4
Property Rights Index	43.9	20.1
Judical Effectiveness Index	11.2	26.5
Business Freedom Index	52.6	31.6
Fiscal Health Index	76.6	N/A
Labor Freedom Index	44.8	N/A
Investment Freedom Index	N/A	N/A
Financial Freedom Index	N/A	N/A
Trade Freedom Index	N/A	N/A
Monetary Freedom Index	76.4	N/A
Government Spending Index	59.5	N/A
Tax Burden Index	N/A	N/A
Government Integrity Index	20.8	13.1
Corruption Perceptions Index	18	10
Life expectancy at birth, years	70.3	56.7
Suicide mortality rate, per 100,000 people	3	4.7
Mortality caused by road traffic injury, per 100,000 people	20.7	27.1
Intentional homicides, per 100,000 people	9.9	4.3
International tourism, number of arrivals	892k	N/A

Government debt & reserves

Stat	Iraq	Somalia
Central government debt, % of GDP	48.4%	N/A
External debt stocks, % of GNI	N/A	39.4%
External debt stocks	N/A	$2.9B
Short-term debt, % of total reserves	N/A	847.9%
Total debt service, % of exports and primary income	N/A	47.6%
Adjusted net savings including particulate emission damage, % of GNI	-7%	N/A
Gross savings, % of GDP	20.1%	N/A
Gross capital formation, % of GDP	12.9%	15.5%
Total reserves including gold	$64.7B	$23.1M
Foreign direct investment net inflows	-$4.9B	$409M

Exports, imports and economic structure

Stat	Iraq	Somalia
Exports of goods and services, % of GDP	44%	25.9%
Imports of goods and services, % of GDP	35.9%	99.6%
Current account balance (balance of payments)	$34.4B	N/A
Revenue excluding grants, % of GDP	26.3%	0%
Grants excluding technical cooperation, BoP	$1.7B	$1.5B
Personal remittances received	$741.7M	$21.7M
Industry including construction value added, % of GDP	56.1%	9.5%
Agriculture, forestry and fishing value added, % of GDP	2%	62.7%
Charges for the use of intellectual property, payments BoP	$7.8M	N/A
Charges for the use of intellectual property, receipts BoP	$100k	N/A
Expense, % of GDP	25.3%	0%
Government Expenditure, % of GDP	36.7%	N/A