# Oil Rents (% of GDP)
The **Oil Rents (% of GDP)** indicator measures the revenue generated from the extraction of oil as a percentage of a country's **Gross Domestic Product (GDP)**.
Specifically, it calculates the difference between the value of **crude oil production** at **world prices** and the **total costs of production**.
- **Iraq's oil GDP growth** has been among the highest, maintaining high levels, as the country's economy relies heavily on oil, accounting for **more than 40% of GDP**.
- However, there was a significant drop in **2020**, falling to **27%**, before returning to **around 43% in 2021**.