Iraq boasts the fourth highest GDP among Arab nations

Baghdad (IraqiNews.com) – Iraq has the fourth highest GDP among Arab nations, with a GDP of over $255 billion, according to the Kuwait-based Inter-Arab Investment Guarantee Corporation (IAIGC), an affiliate of the Arab League located in Cairo. With oil accounting for at least 40% of its GDP, Iraq’s economy is still largely dependent on it.

With their economies still dominating the Arab world, Saudi Arabia and the United Arab Emirates will account for approximately 46% of the region’s GDP in 2023.

The greatest oil producer in the entire globe is Saudi Arabia, with a GDP last year of around $1.069 trillion in current dollars, or 31.3 percent of the GDP of all Arab countries.

The UAE’s GDP is projected by IAIGC to be $509.2 billion in 2023, or around 14.9% of the GDP of the Arab world.

Egypt’s economy ranked third among Arab nations, with a GDP of $398.4 billion in 2023.