Iraq External Debt
Total external debt stocks DT.DOD.DECT.CD
Iraq's external debt was $15.7B in 2025, ranked 54th globally. This represents a 10.7% decrease from 2024. Data from World Bank, covering 2015–2025.
Overview
Iraq's external debt stood at $15.7B in 2025, a decline of +$1.9B from 2024. Based on recent trends, this figure is projected to reach $15.7B by 2025. Iraq ranked 54th globally.
Iraq’s external debt has fallen sharply over the past decade, declining from 19,135,602,755.00 in 2015 to a trough of 15,650,029,554.93 in 2025, the lowest level recorded in the 11‑year series. The debt peaked at 28,081,416,224.60 in 2017, a post‑conflict surge that reflected heightened borrowing for reconstruction and fiscal stabilization. The 2025 figure places Iraq at rank 54 globally and very close to peer economies such as Benin (15,335,389,212.72) and Cameroon (15,914,990,436.69), suggesting a convergence with lower‑debt emerging markets. The sustained reduction is attributable to a combination of higher oil revenues, debt‑service reforms and selective refinancing, which have helped to narrow the gap with regional counterparts. If oil prices remain supportive and fiscal discipline continues, the downward trajectory is likely to persist, further easing external vulnerability and potentially enabling debt‑to‑GDP ratios to improve in the medium term.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $11.1B | - | - |
| 2026* trend | $13.4B | - | - |
| 2025* trend | $15.7B | - | - |
| 2025 | $15.7B | −$1.9B | #54 |
| 2024 | $17.5B | −$2.8B | #70 |
| 2023 | $20.3B | −$2.4B | #74 |
| 2022 | $22.7B | −$2.6B | #77 |
| 2021 | $25.4B | −$968.1M | #79 |
| 2020 | $26.3B | −$1.2B | #83 |
| 2019 | $27.5B | −$311.0M | #84 |
| 2018 | $27.8B | −$284.0M | #85 |
| 2017 | $28.1B | +$4.7B | #86 |
| 2016 | $23.4B | +$4.2B | #86 |
| 2015 | $19.1B | – | #82 |
Detected Pattern
Analysis
Iraq matched the Export Boom Cycle pattern in 2022. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt improve within 24 months. View full analysis →
Frequently Asked Questions
Iraq's external debt was $15.7B in 2025. Ranked 54th globally. This represents a 10.7% decrease from the previous year.
Iraq's external debt peaked at $28.1B in 2017.
The lowest external debt in Iraq was $15.7B in 2025.
Iraq ranks 54th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Iraq's external debt is projected to reach $15.7B by 2025 based on trend extrapolation.
Iraq's external debt was approximately 15.65 billion ($15.7B) in 2025.
The external debt of Iraq in 2025 was $15.7B. This ranks 54th in the world.
Cite this page
@misc{historysaid_iraq_external-debt,
title = {Iraq External Debt},
url = {https://historysaid.com/iraq/external-debt/},
publisher = {HistorySaid},
year = {2026}
}