The impact of oil price shocks in the global market on some indicators of the Iraqi economy for the period (2004-2020)

Abstract

The Iraqi economy is characterized as a rentier, unilateral economy that relies almost entirely on the oil commodity, while other productive sectors constitute a small percentage of the composition of the gross domestic product Which made it vulnerable to external shocks represented by fluctuations in oil prices in the global market and an imbalance in its production structure and as a result of the economic and political conditions that Iraq went through as well as fluctuations in global oil prices. It suffered from a weakness in infrastructure, and it greatly affected the Iraqi economy in terms of gross domestic product, the general budget, unemployment, etc. Therefore, it is necessary to know the effects that these shocks have on some indicators of the Iraqi economy, and this is considered an urgent necessity to explore future prospects. This research aims to study the impact of oil price shocks in the global market on some indicators of the Iraqi economy for the period (2004-2020)