y an
international coalition beginning in January 1991 drastically
reduced economic activity. Although government policies supporting
large military and internal security forces and allocating resources
to key supporters of the regime hurt the economy, implementation of
the UN's oil-for-food program beginning in December 1996 helped
improve conditions for the average Iraqi citizen. Iraq was allowed
to export limited amounts of oil in exchange for food, medicine, and
some infrastructure spare parts. In December 1999, the UN Security
Council authorized Iraq to export under the program as much oil as
required to meet humanitarian needs. The drop in GDP in 2001-02 was
largely the result of the global economic slowdown and lower oil
prices. Per capita food imports increased significantly, while
medical supplies and health care services steadily improved. Per
capita output and living standards were still well below the
pre-1991 level, but any estimates have a wide range of error. The
military victory of the US-led coalition in March-April 2003
resulted in the shutdown of much of the central economic
administrative structure. Although a comparatively small amount of
capital plant was damaged during the hostilities, looting, insurgent
attacks, and sabotage have undermined efforts to rebuild the
economy. Despite continuing political uncertainty, the Iraqi Interim
Government (IG) has founded the institutions needed to implement
economic policy, and has successfully concluded a debt reduction
agreement with the Paris Club. The high percentage gain estimated
for GDP in 2004 is the result of starting from a low base.

GDP (purchasing power parity):
$54.4 billion (2004 est.)

GDP - real growth rate:
52.3% (2004 est.)

GDP - per capita:
purchasing power parity - $2,100 (2004 est.)

GDP - composition by sector:
agriculture: 13.6%
industry: 58.6%
services: 27.8% (2004 est.)

Labor force:
6.7 million (2004 est.)

Labor force - by occupation:
agriculture NA, industry NA, services NA

Unemployment rate:
25% to 30% (2004 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
25.4% (2004 est.)

Budget:
revenues: $17.1 billion
expenditures: $28.2 billion, including capital expenditures of $5.6
billion (2004 budget)

Agriculture -