CBI: GDP per capita declines in Iraq in 2023
Shafaq News/ The Central Bank of Iraq (CBI) revealed thatthe gross domestic product (GDP) per capita decreased in 2023.
A report by the CBI showed that the GDP per capita droppedin 2023 by 22.4% to 7.6 million Iraqi dinars (about $5,500) compared to 2022,which amounted to 9.8 million dinars ($7,400).
The bank attributed the decline to the “drop in GDP atcurrent prices to 330 trillion dinars for 2023 compared to 415 trillion dinarsfor 2022.”
According to an International Monetary Fund (IMF) study,Iraq ranked seventh in per capita income among Arab countries in the 2024index, with an annual income stood at $5,880, equivalent to over 7 milliondinars at the official exchange rate.
Iraq's GDP per capita growth rate was 2.8% in 2023,following a significant 7.9% increase in 2022.
The German website Statista, specializing in market andconsumer data, expected the income per capita to riseto$6,824by2029.
