Iraq is one of the five countries with the highest oil production in the world, with proven reserves as high as140 billion barrels. In the early days of Saddam's rule, Iraq became rich rapidly because of its oil resources. With a large amount of oil revenue, Iraq quickly changed its poverty and backwardness. At that time, it was as rich as Saudi Arabia. They claim that their oil wealth can support the armed army of the third military power in the world.

Saddam did the same thing at that time. He used the income from oil to build a million soldiers, and at the same time his strength is the fourth in the world. He also owns nearly 6,000 tanks, 7,500 armored vehicles, more than 3,700 guns and more than 700 fighter planes. 1978 foreign exchange reserves were close to $40 billion. By 1980, Iraq's per capita income had reached $3,900, far exceeding the well-deserved local tyrants such as Saudi Arabia and South Korea. Moreover, the use of oil revenue has also been established, and the Iraqi people's perfect social welfare has achieved four items: free medical care, free old-age care, free education and free housing. Even now, many developed countries can't do this.

Later, the Iran-Iraq war broke out and lasted for eight years. The number of Iraqi casualties and prisoners reached 480,000, and the comprehensive national strength was seriously weakened. Since then, Iraq has turned from prosperity to decline, owing a large amount of foreign debts. Later, because of the Gulf War, the United States imposed oil blockade and other sanctions on Iraq, which caused the Iraqi economy to struggle.

Later, after the United States lifted economic sanctions, the total GDP of Iraq increased eight times after the Iraq war, and oil was exported in large quantities again, showing signs of economic recovery, but it is very likely to return to Saddam's era. The pain brought to Iraq by years of war is long-lasting and difficult to improve in a short time.