Oil continues to dominate Iraq's economy. , oil is responsible for over 65 per cent of GDP and 90 per cent of total government revenue. Petroleum constitutes 94% of Iraq's exports with a value of $59.73 billion in 2017. The central government hopes to diversify the economy away from oil, and has had some success: non-oil GDP growth, which was below the regional average from 2014 to 2016, pushed above the average in 2017. Despite this, the percentage of government spending going to non-oil investment has continued to decline since 2013 and now stands at only 34 per cent.
Oil continues to dominate Iraq's economy  oil is responsible for over 65 per cent of GDP and 90 per cent of total government revenue Petroleum constitutes 94% of Iraq's exports with a value of $5973 billion in 2017 The central government hopes to diversify the economy away from oil and has had some success non-oil GDP growth which was below the regional average from 2014 to 2016 pushed above the average in 2017 Despite this the percentage of government spending going to non-oil investment has continued to decline since 2013 and now stands at only 34 per cent