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Economy of Iraq vs Uzbekistan compared: GDP & Debt

Updated on by Georank team

Iraq has a GDP of $280B compared to $115B for Uzbekistan, ranking 50/197 and 66/197 by economy size, respectively.

Iraq has $130B in government debt (46.5% of GDP), compared to $37.5B (32.7% of GDP) in Uzbekistan.

Iraq vs Uzbekistan GDP by year

Iraq
Uzbekistan
1x
Year GDP, current $
Iraq Uzbekistan
2024 $279,641,257,615 $114,965,293,467
2023 $268,881,051,644 $102,641,879,249
2022 $287,372,232,138 $90,095,926,567
2021 $209,691,945,713 $77,340,060,003
2020 $180,898,797,517 $66,443,265,418
2019 $233,636,097,800 $67,293,639,798
2018 $227,367,469,034 $58,695,899,092
2017 $187,217,660,051 $69,703,222,283
2016 $166,743,557,748 $86,138,288,644
2015 $166,774,104,959 $86,196,264,755
2014 $228,415,656,175 $80,845,385,809
2013 $234,637,675,129 $73,180,037,915
2012 $218,002,476,129 $67,517,349,212
2011 $185,749,664,444 $60,178,909,297
2010 $138,516,722,650 $49,765,676,402
2009 $111,657,580,326 $33,689,223,673
2008 $131,614,434,154 $29,549,438,884
2007 $88,837,057,320 $22,311,393,928
2006 $65,147,051,918 $17,330,833,853
2005 $50,065,104,668 $14,307,509,839
2004 $36,633,669,269 $12,030,023,548
2003 $21,921,569,479 $10,134,453,435
2002 $32,928,454,672 $9,687,788,513
2001 $36,176,430,129 $11,401,421,329
2000 $48,364,250,944 $13,760,513,969
1999 $36,881,601,584 $17,078,465,982
1998 $20,617,405,044 $14,988,971,211
1997 $20,764,857,056 $14,744,603,774
1996 $10,433,698,621 $13,948,892,216
1995 $12,894,029,888 $13,350,461,265
1994 $3,991,349,283 $12,899,074,922
1993 $1,031,944,881 $13,099,920,056
1992 $553,671,958 $12,953,801,760
1991 $407,796,350 $13,800,167,712
1990 $180,408,064,516 $13,362,340,338
1989 $65,831,935,484 $11,948,815,258
1988 $62,684,516,129 $10,722,799,639
1987 $56,774,193,548 $8,523,160,593
1986 $47,264,516,129 -
1985 $48,425,161,290 -
1984 $46,938,387,097 -
1983 $40,712,903,226 -
1982 $42,382,333,333 -
1981 $37,823,000,000 -
1980 $52,569,000,000 -
1979 $37,816,457,839 -
1978 $23,762,275,652 -
1977 $19,838,130,715 -
1976 $17,754,825,601 -
1975 $13,458,516,763 -
1974 $11,516,762,614 -
1973 $5,134,367,778 -
1972 $4,113,848,002 -
1971 $3,865,346,535 -
1970 $3,281,318,687 -
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Iraq vs Uzbekistan by year

Iraq
GDP per capita

GDP per capita, PPP
Uzbekistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Iraq Uzbekistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,074 $14,464 $3,162 $11,879
2023 $5,965 $14,653 $2,879 $11,107
2022 $6,521 $14,391 $2,579 $10,293
2021 $4,868 $12,732 $2,259 $9,248
2020 $4,295 $10,574 $1,978 $8,452
2019 $5,672 $12,249 $2,041 $8,544
2018 $5,647 $12,034 $1,813 $8,129
2017 $4,759 $10,192 $2,191 $7,818
2016 $4,334 $9,079 $2,753 $6,919
2015 $4,440 $9,334 $2,803 $6,800
2014 $6,249 $13,168 $2,675 $6,610
2013 $6,650 $14,669 $2,462 $6,413
2012 $6,478 $14,402 $2,307 $6,168
2011 $5,776 $12,912 $2,088 $5,949
2010 $4,462 $12,186 $1,753 $5,505
2009 $3,715 $11,687 $1,206 $5,135
2008 $4,543 $11,657 $1,075 $4,800
2007 $3,129 $10,783 $824 $4,386
2006 $2,277 $10,223 $649 $3,956
2005 $1,762 $9,457 $543 $3,618
2004 $1,328 $9,290 $462 $3,321
2003 $818 $6,068 $394 $3,047
2002 $1,266 $9,682 $381 $2,902
2001 $1,436 $10,720 $454 $2,782
2000 $1,980 $10,628 $555 $2,644
1999 $1,560 $9,194 $698 $2,522
1998 $901 $7,964 $621 $2,418
1997 $936 $6,020 $621 $2,329
1996 $485 $5,034 $597 $2,214
1995 $619 $4,598 $583 $2,178
1994 $198.2 $4,560 $574 $2,197
1993 $53.7 $4,509 $596 $2,318
1992 $30.3 $3,547 $603 $2,371
1991 $23 $2,694 $658 $2,676
1990 $10,261 - $653 $2,665
1989 $3,791 - $598 -
1988 $3,707 - $551 -
1987 $3,436 - $450 -
1986 $2,940 - - -
1985 $3,088 - - -
1984 $3,066 - - -
1983 $2,743 - - -
1982 $2,942 - - -
1981 $2,700 - - -
1980 $3,868 - - -
1979 $2,871 - - -
1978 $1,863 - - -
1977 $1,609 - - -
1976 $1,489 - - -
1975 $1,166 - - -
1974 $1,031 - - -
1973 $476 - - -
1972 $394 - - -
1971 $384 - - -
1970 $337 - - -
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 (1960–2024, retrieved 2026-04-06).

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

Iraq's GDP per capita is $6,074, ranking 113/197, compared to $3,162 in Uzbekistan, ranking 139/197. Adjusted for purchasing power (GDP per capita PPP), Iraq ranks 115th at $14,464, while Uzbekistan ranks 125th at $11,879.

Economic indicators

Iraq Uzbekistan
Gross domestic product
$280B
2024
$115B
2024
GDP rank
50/197
2024
66/197
2024
GDP growth
-1.55%
2023-2024
6.5%
2023-2024
GDP per capita
$6,074
2024
$3,162
2024
GDP per capita rank
113/197
2024
139/197
2024
GDP per capita, PPP
$14,464
2024
$11,879
2024
GDP per capita PPP rank
115/197
2024
125/197
2024
Government debt
$130B
2024
$37.5B
2024
Debt-to-GDP ratio
46.5%
2024
32.7%
2024
Government debt per person
$2,822
2024
$1,032
2024
Government debt per person rank
105/185
2024
141/185
2024
Average annual personal income after taxes
$5,928
2026
$3,658
2026
Market capitalization of domestic companies n/a
$18.8B
2024
Income share by richest 10%
24.2%
2023
25.7%
2024
Income share by poorest 10%
3.7%
2023
2.3%
2024
Government expenditure, % of GDP
42.9%
2024
27.6%
2024
Consumer prices inflation
-12.3%
2023-2024
9.6%
2023-2024
Central bank interest rate n/a
14%
2025
Unemployment rate
16.2%
2021
5.29%
2020
Population
48289334
37939105

Spending and national debt comparison by year

Iraq
Spending

Debt
Uzbekistan
Spending

Debt
1x
Year % of GDP
Iraq Uzbekistan
Government spending Government debt Government spending Government debt
2024 42.9% 46.5% 27.6% 32.7%
2023 41.2% 42.1% 29.9% 32.2%
2022 33.9% 39% 31.3% 30.5%
2021 36.3% 54.7% 27.4% 31.7%
2020 41.9% 72.5% 26% 33.7%
2019 34.7% 41.7% 24.4% 25.4%
2018 31.1% 44.4% 22.2% 17.5%
2017 35.5% 55.9% 19.9% 17.3%
2016 42.4% 60.3% 23.3% 8.19%
2015 43.5% 48.3% 24.6% 6.72%
2014 43.8% 27.6% 24.9% 6.09%
2013 48.2% 32% 25.2% 6.23%
2012 42.9% 34.8% 23.9% 6.76%
2011 43.4% 40.7% 23.7% 6.33%
2010 49.6% 53.5% 26.4% 6.61%
2009 61.1% 87.4% 27.5% 7.3%
2008 57.3% 74.2% 26.5% 8.33%
2007 44% 117.1% 24.8% 9.56%
2006 50.3% 143.2% 24.7% 13.5%
2005 63.2% 227.3% 28.1% 21%
2004 91.5% 344% 29.4% 26.9%
2003 - - 31.5% 31.4%
2002 - - 34.6% 41.6%
2001 - - 30.6% 44.8%
2000 - - 32.9% 29.5%
1999 - - 33.6% 18.4%
1998 - - 35.1% 18%
1997 - - 31.8% 15.3%
1996 - - 35.1% -
1995 - - 29.4% -
1994 - - 27.1% -
1993 - - 39.6% -
1992 - - 18% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20).

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

In 2024, Iraq's government spending was $120B, accounting for 42.9% of its GDP, while Uzbekistan spent $31.7B, or 27.6% of GDP.

Debt-to-GDP ratio is 46.5% in Iraq and 32.7% in Uzbekistan, ranking 117/185 and 152/185, respectively.

Government deficit by year

Deficit/surplus
Iraq

Uzbekistan
1x
Year Deficit/surplus, % of GDP
Iraq Uzbekistan
2024 -4.14% -2.37%
2023 -1.14% -4.03%
2022 8.1% -3.65%
2021 -0.38% -4.1%
2020 -12.8% -2.95%
2019 0.83% -0.3%
2018 7.69% 1.64%
2017 -1.52% 1.04%
2016 -14.4% 0.7%
2015 -12.8% -0.28%
2014 -5.63% 1.9%
2013 -6.06% 2.15%
2012 4.09% 5.89%
2011 4.74% 5.11%
2010 -4.18% 2.56%
2009 -14.9% 1.82%
2008 -0.86% 5.97%
2007 9.98% 3.55%
2006 10.7% 2.72%
2005 4.07% -3.52%
2004 -35.4% -3.74%
2003 - -4.87%
2002 - -6.31%
2001 - -3.28%
2000 - -3.66%
1999 - -2.91%
1998 - -3.04%
1997 - -2.05%
1996 - -1.57%
1995 - -1.77%
1994 - -4.47%
1993 - -12%
1992 - 7.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20).

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

In 2024, Iraq's government deficit, the difference between spending and revenue, was $11.6B, equivalent to 4.14% of GDP. This compares to Uzbekistan's deficit of $2.72B, or 2.37% of GDP.

Over the past 21 years, Iraq recorded a fiscal deficit in 13 of those years, while Uzbekistan ran a deficit in 9 years. On average, Iraq posted an annual deficit equal to 3.05% of GDP, compared to surplus of 0.48% of GDP for Uzbekistan.

Inflation comparison by year

Inflation
Iraq

Uzbekistan
1x
Year Consumer prices inflation
Iraq Uzbekistan
2024 -12.3% 9.6%
2023 4.36% 10%
2022 4.99% 11.4%
2021 6.04% 10.8%
2020 0.57% 12.9%
2019 -0.2% 14.5%
2018 0.37% 17.5%
2017 0.18% 13.9%
2016 0.56% 8.8%
2015 1.39% 8.5%
2014 2.24% 9.1%
2013 1.88% 11.7%
2012 6.09% 11.9%
2011 5.8% 12.4%
2010 2.88% 12.3%
2009 6.87% 12.3%
2008 12.7% 13.1%
2007 -10.1% 11.2%
2006 53.2% 13.1%
2005 37% 10.7%
2004 27% 7.3%
2003 33.6% 12.5%
2002 19.3% 27.3%
2001 16.4% 27.3%
2000 4.98% 25%
1999 12.6% 29.1%
1998 14.8% 29%
1997 23.1% 70.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Iraq has recorded an average annual inflation rate of 9.86%, compared with 16.6% in Uzbekistan. In 2024, inflation was -12.3% in Iraq and 9.6% in Uzbekistan.

Top exports between countries

Iraq
Export category Export value
Uzbekistan
Export category Export value
Raw agricultural goods $30.6M
Processed food, beverages & tobacco $24.1M
Chemicals & pharma $592K
Raw materials & minerals $531K
Metals $483K
Machinery & equipment $403K
Textiles & consumer goods $233K
Animal & marine products $201K
Miscellaneous $38K
Wood & paper products $19K

Balance of trade

Iraq Uzbekistan
Current account balance
$8.37B
2024
-$5.71B
2024
Current account balance ranking
24/190
2024
169/190
2024
Current account balance, % of GDP
+2.99%
2024
-4.97%
2024
Goods imports
$74.3B
2024
$33.2B
2024
Goods exports
$101B
2024
$19.6B
2024
Service imports
$30.2B
2024
$10.5B
2024
Service exports
$10.2B
2024
$6.55B
2024
Imports of goods and services, % of GDP
33.2%
2024
38%
2024
Exports of goods and services, % of GDP
37.5%
2024
22.8%
2024

Economic freedom indices

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

Iraq Uzbekistan
Economic freedom 15.6 60.3
Economic freedom ranking 196/197 94/197
Property rights 8.3 43.1
Government integrity 20.2 32
Judicial effectiveness 5.8 13.7
Tax burden 85.5 95
Government spending 65.3 73.7
Fiscal health 95.7 79.9
Business freedom 42.8 62.5
Labor freedom 60.6 48.4
Monetary freedom 68.6 65.1
Trade freedom 40 80.6
Investment freedom 10 70
Financial freedom 10 60

Economic freedom comparison by year

Iraq
Uzbekistan
1x
Year Economic freedom index
Iraq Uzbekistan
2026 - 60.3
2025 - 58
2024 - 55.9
2023 - 56.5
2022 - 55.7
2021 - 58.3
2020 - 57.2
2019 - 53.3
2018 - 51.5
2017 - 52.3
2016 - 46
2015 - 47
2014 - 46.5
2013 - 46
2012 - 45.8
2011 - 45.8
2010 - 47.5
2009 - 50.5
2008 - 51.9
2007 - 51.5
2006 - 48.7
2005 - 45.8
2004 - 39.1
2003 - 38.3
2002 15.6 38.5
2001 17.2 38.2
2000 17.2 38.1
1999 17.2 33.8
1998 17.2 31.5
1997 17.2 -
1996 17.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Iraq is 15.6, ranking 196/197, compared to 60.3 for Uzbekistan, ranking 94/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Iraq Uzbekistan
Services, % of GDP
45.8%
2024
45.2%
2024
Industry, % of GDP
51.6%
2024
31.8%
2024
Agriculture, forestry, and fishing, % of GDP
3.39%
2024
18.3%
2024
GNI, Atlas method
$277B
2024
$110B
2024
GNI per capita, PPP
$14,530
2024
$12,000
2024
Total reserves including gold
$101B
2024
$41.2B
2024
Total reserves ranking
28/177
2024
50/177
2024
Net foreign direct investment
$8.09B
2024
-$2.81B
2024
Net inflows of foreign direct investment
-$7.65B
2024
$2.99B
2024
Net outflows of foreign direct investment
$439M
2024
$36.7M
2024
Servicing debt to the IMF, % of GNI
1.22%
2024
9.88%
2024
Poverty at national poverty lines
17.5%
2023
8.9%
2024
Gross capital formation, % of GDP
28.2%
2024
33.3%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.