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Iraq economic power
The economy is gradually recovering from the oil and COVID‑19 shocks of Real GDP is estimated to have edged up by % in , after a sharp contraction. Although the economy, particularly petroleum exports, suffered during the Iran-Iraq War—gross domestic product (GDP) actually fell in some years—the invasion of Kuwait, Iraq’s . In , Iraq's gross domestic product amounted to around billion U.S. dollars. GDP is an important indicator of a country's economic power. The economy of Iraq is dominated by the oil sector, which has provided about % of foreign exchange earnings during its modern history. . Search Twitter for iraq economic power, to find the latest news and global events. Find and people, hashtags and pictures in every theme. By Iraq had the second largest economy in the Arab world, after Saudi Arabia, and the third largest in the Middle East and had developed a complex, centrally planned economy dominated by the state. Iraq’s economy was based almost exclusively on agriculture until the s, but after the revolution economic development was considerable. Growth in the outer years is projected to remain modest at % on average as oil production moderates. The turnaround in oil markets has significantly improved Iraq's economic outlook in the medium term. Overall growth in is now forecast at % as OPEC+ quotas end and Iraq's production surpasses its pre-pandemic level of mbpd. Overall growth in is now forecast at % as OPEC+ . Apr 14, · The turnaround in oil markets has significantly improved Iraq’s economic outlook in the medium term. Iraq's economy was based almost exclusively on agriculture until the s, but after the revolution economic development was considerable. Fanack provides an overview of the economy of Iraq, including service Even after the formal transfer of power to the Interim Government on 28 June