Iraq ranks fifth in Arab World, 52nd globally in largest economies

Shafaq News/ Iraq has ranked fifth among Arab nations and 52nd globally as the largest economy in the world for the year 2024, According to CEOWORLD.

Despite rising concerns over inflation, the United States maintained its position as the world's largest economy, with a Gross Domestic Product (GDP) of $28.78 trillion.

China followed with a GDP of $18.54 trillion, while Germany solidified its position as Europe's economic leader with a GDP of $4.59 trillion, leveraging its manufacturing expertise and robust exports amid additional challenges related to energy supply issues stemming from the Russia-Ukraine conflict.

CEOWORLD highlighted Japan in fourth place with a GDP of $4.11 trillion, while India ranked fifth, showcasing one of the fastest-growing economies with a GDP of $3.94 trillion.

In terms of global rankings, Iraq secured the 52nd spot with a GDP of $265.894 million for the current year, projected to increase to $278.811 million in 2025, $292.147 million in 2026, $307.465 million in 2027, $325.197 million in 2028, and finally reaching $345.074 million by 2029.

CEOWORLD further noted that Iraq ranks fifth among Arab nations, following Saudi Arabia, the United Arab Emirates, Egypt, and Algeria in economic size.