Iraq vs Venezuela: Economic Indicators Comparison

Venezuela with a GDP of $482.4B ranked the 27th largest economy in the world, while Iraq ranked 50th with $224.2B. By GDP 5-years average growth and GDP per capita, Venezuela and Iraq ranked 181st vs 85th and 58th vs 103rd, respectively.

Gross Domestic Product & Income

StatIraqVenezuela
GDP$224.2B$482.4B
GDP growth, 1 year0.6%-18%
GDP growth, 5-years average3.1%-12.2%
Population38.3M28.5M
GDP per capita$5.8k$16k
GDP per capita growth-2.84%-18.17%
Purchasing Power Parity conversion factor395.515.57
Price level ratio of PPP conversion factor GDP to market exchange rate0.330.89
GDP per capita, PPP adjusted$18k$8.8k
GNI, Atlas method$193.6B$392.9B
GNI per capita$5k$13k
GNI, PPP adjusted$661.5B$352.8B
GNI per capita, PPP adjusted$17k$12k

Financial system and Human development

StatIraqVenezuela
Income Tax Rate15%34%
Corporate Tax Rate15%34%
Inflation, consumer prices0.4%929789.5%
Inflation, GDP deflator15.4%748.1%
Unemployment7.9%8.4%
Economic Freedom Index2125.2
Personal Freedom Index3.216.33
Human Freedom Index4.285.27
Property Rights Index43.910.1
Judical Effectiveness Index11.212.6
Business Freedom Index52.630.8
Fiscal Health Index76.60
Labor Freedom Index44.827.7
Investment Freedom IndexN/A0
Financial Freedom IndexN/A10
Trade Freedom IndexN/A58
Monetary Freedom Index76.40
Government Spending Index59.566.3
Tax Burden IndexN/A72.8
Government Integrity Index20.814.6
Corruption Perceptions Index1818
Life expectancy at birth, years70.372.2
Suicide mortality rate, per 100,000 people33.7
Mortality caused by road traffic injury, per 100,000 people20.733.7
Intentional homicides, per 100,000 people9.956.3
International tourism, number of arrivals892k427k

Government debt & reserves

StatIraqVenezuela
Central government debt, % of GDP48.4%175.6%
External debt stocks, % of GNIN/A33.9%
External debt stocksN/A$154.9B
Short-term debt, % of total reservesN/A421.1%
Total debt service, % of exports and primary incomeN/A69%
Adjusted net savings including particulate emission damage, % of GNI-7%7.2%
Gross savings, % of GDP20.1%8.9%
Gross capital formation, % of GDP12.9%-3.7%
Total reserves including gold$64.7B$9.8B
Foreign direct investment net inflows-$4.9B$956M

Exports, imports and economic structure

StatIraqVenezuela
Exports of goods and services, % of GDP44%30.7%
Imports of goods and services, % of GDP35.9%36.4%
Current account balance (balance of payments)$34.4B-$3.9B
Revenue excluding grants, % of GDP26.3%N/A
Grants excluding technical cooperation, BoP$1.7B$125.8M
Personal remittances received$741.7M$297.1M
Industry including construction value added, % of GDP56.1%37.2%
Agriculture, forestry and fishing value added, % of GDP2%5%
Charges for the use of intellectual property, payments BoP$7.8M$258M
Charges for the use of intellectual property, receipts BoP$100kN/A
Expense, % of GDP25.3%N/A
Government Expenditure, % of GDP36.7%33.5%

Compare with countries close by GDP per capita

Iraq vs

CountryGDP
per capita
Population
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M

Venezuela vs

CountryGDP
per capita
Population
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M