Shafaq News- Baghdad

Iraq ranked 56th globally with a gross domestic product estimated at around $265 billion, representing about 0.2% of the global economy, according to Visual Capitalist reported based on International Monetary Fund (IMF) 2026 estimates.

The data showed that Iraq, placed it among mid-tier economies worldwide, is part of a group of economies exceeding hundreds of billions of dollars in output, noting its significant resources, particularly in the energy sector.

The global economy is projected to reach $126 trillion in 2026, with output heavily concentrated among a small number of countries. Four economies —the United States, China, Germany, and Japan— account for roughly half of global GDP, generating more than $63 trillion combined. The United States alone contributes about 25.6% of global output, followed by China at 16.5%, while Germany and Japan hold smaller shares of 4.3% and 3.5%, respectively.

Other major economies include the United Kingdom, India, and France, each contributing between 2.8% and 3.4% of global GDP. India, now the world’s sixth-largest economy, is expected to post one of the strongest growth rates among major economies at 6.6% in 2026, compared with 4.4% for China and 2.3% for the United States. Germany and Japan are projected to grow more slowly, at around 0.7–0.8%.

According to Visual Capitalist, the figures highlight a continued shift in global economic momentum toward Asia. Emerging economies such as India and Indonesia are expected to play an increasing role in global growth, with Indonesia projected to expand by about 5% despite ongoing industrial and supply chain challenges.

Trade tensions are weighing on growth prospects in several regions. High-tariff policies introduced by the United States since early 2025 have contributed to downward revisions in growth forecasts, particularly in North America. Economies closely tied to US trade, including Canada and Mexico, remain exposed to these pressures amid slow progress in regional trade negotiations.