Iraq is the fifth largest economy in the Arab world and the 52nd largest economy in the world
Iraq is the fifth largest economy in the Arab world and the 52nd largest economy in the world
2024-07-08 03:26
Shafaq News/ The American magazine “CEOWORLD” reported on Monday that Iraq ranked fifth in the Arab world and 52nd globally as the largest economy in the world in 2024.
According to the American magazine, despite growing concerns about rising prices, the United States has maintained its position as the largest economy in the world, with an impressive GDP of $28.78 trillion.
China follows with a massive GDP of $18.54 trillion, while Germany, meanwhile, has cemented its position as Europe’s economic leader with a GDP of $4.59 trillion, building on its manufacturing expertise and strong exports while overcoming additional challenges from energy supply issues related to the conflict between Russia and Ukraine.
The magazine showed that Japan ranks fourth with a GDP of $4.11 trillion, while India ranks fifth, as one of the fastest growing economies with a GDP of $3.94 trillion.
While Iraq ranked 52nd globally in terms of growth with a GDP of $265.894 million for the current year, the GDP for 2025 was estimated at $278.811 million, in 2026 at $292.147 million, in 2027 at $307.465 million, in 2028 at $325.197 million, and finally in 2029 at $345.074 million.
The magazine indicated that Iraq ranks fifth in the Arab world after Saudi Arabia, the Emirates, Egypt and Algeria.
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