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According a study report by Thomson Reuters, The Islamic State once boasted of having $2 trillion in assets and $2.9 billion annual income. Currently, this is not the case. The Islamic State income has dwindled by 80% due to the lose of over two-thirds of the territory the caliphate once controlled.

It is reported that the caliphate receives its income from taxation of the people living under their territory.

Islamic State group also confiscates people’s property as a source of income. Any track entering its kingdom from neighbouring countries used to pay $800 per truck among other taxes.

This is a clear sign that the Islamic State is failing fast.

It’s on a downward spiral.

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