Iraq vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Iraq ranked 50th with $224.2B. By GDP 5-years average growth and GDP per capita, South Korea and Iraq ranked 93rd vs 85th and 33rd vs 103rd, respectively.
Gross Domestic Product & Income
| Stat |  Iraq |  South Korea |
|---|---|---|
| GDP | $224.2B | $1.6T |
| GDP growth, 1 year | 0.6% | 2.7% |
| GDP growth, 5-years average | 3.1% | 3% |
| Population | 38.3M | 51.5M |
| GDP per capita | $5.8k | $31k |
| GDP per capita growth | -2.84% | 2.33% |
| Purchasing Power Parity conversion factor | 395.51 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.33 | 0.78 |
| GDP per capita, PPP adjusted | $18k | $41k |
| GNI, Atlas method | $193.6B | $1.6T |
| GNI per capita | $5k | $31k |
| GNI, PPP adjusted | $661.5B | $2.1T |
| GNI per capita, PPP adjusted | $17k | $40k |
Financial system and Human development
| Stat | Iraq | South Korea |
|---|---|---|
| Income Tax Rate | 15% | 42% |
| Corporate Tax Rate | 15% | 25% |
| Inflation, consumer prices | 0.4% | 1.5% |
| Inflation, GDP deflator | 15.4% | 0.3% |
| Unemployment | 7.9% | 3.8% |
| Economic Freedom Index | 21 | 74 |
| Personal Freedom Index | 3.21 | 8.84 |
| Human Freedom Index | 4.28 | 8.15 |
| Property Rights Index | 43.9 | 82.5 |
| Judical Effectiveness Index | 11.2 | 61 |
| Business Freedom Index | 52.6 | 90.5 |
| Fiscal Health Index | 76.6 | 96.7 |
| Labor Freedom Index | 44.8 | 56.2 |
| Investment Freedom Index | N/A | 70 |
| Financial Freedom Index | N/A | 70 |
| Trade Freedom Index | N/A | 80 |
| Monetary Freedom Index | 76.4 | 82.1 |
| Government Spending Index | 59.5 | 67.7 |
| Tax Burden Index | N/A | 63.9 |
| Government Integrity Index | 20.8 | 67.5 |
| Corruption Perceptions Index | 18 | 57 |
| Life expectancy at birth, years | 70.3 | 82.6 |
| Suicide mortality rate, per 100,000 people | 3 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 20.7 | 9.8 |
| Intentional homicides, per 100,000 people | 9.9 | 0.6 |
| International tourism, number of arrivals | 892k | 15.3M |
Government debt & reserves
| Stat | Iraq | South Korea |
|---|---|---|
| Central government debt, % of GDP | 48.4% | 40.7% |
| External debt stocks, % of GNI | N/A | N/A |
| External debt stocks | N/A | N/A |
| Short-term debt, % of total reserves | N/A | N/A |
| Total debt service, % of exports and primary income | N/A | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | -7% | 20.1% |
| Gross savings, % of GDP | 20.1% | 34.7% |
| Gross capital formation, % of GDP | 12.9% | 30.2% |
| Total reserves including gold | $64.7B | $403.1B |
| Foreign direct investment net inflows | -$4.9B | $14.5B |
Exports, imports and economic structure
| Stat | Iraq | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 44% | 44% |
| Imports of goods and services, % of GDP | 35.9% | 39% |
| Current account balance (balance of payments) | $34.4B | $76.4B |
| Revenue excluding grants, % of GDP | 26.3% | 27.8% |
| Grants excluding technical cooperation, BoP | $1.7B | $6.7M |
| Personal remittances received | $741.7M | $7.1B |
| Industry including construction value added, % of GDP | 56.1% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 2% | 2% |
| Charges for the use of intellectual property, payments BoP | $7.8M | $9.9B |
| Charges for the use of intellectual property, receipts BoP | $100k | $7.8B |
| Expense, % of GDP | 25.3% | 25.4% |
| Government Expenditure, % of GDP | 36.7% | 32.8% |
