5 Fastest Declining Economies in the World in 2026

​2. Iraq

5-Year Average Real GDP Growth Rate: 0.3%

Real GDP Growth Rate 2026: -6.8%

​Iraq is also situated in Western Asia. Its economy is also dominated by oil-related exports and revenue. The recent wars and fluctuating oil prices have led to economic challenges for the economy, which relies roughly 90% on oil exports. The IMF expects the country’s real GDP growth rate to be roughly -6.8% for 2026, and it ranks as one of the Fastest Declining Economies in the World in 2026.