Apparently the huge stockpile of heavy metal bought during the eighties was extensively crippled during the war against Iraq, all of the advanced systems that could be found were systematically busted by US forces during Desert Storm, and the ongoing twelve years of embargo had a disastrous effect on the infrastrcuture, industry and economy, making the shortage of spares critical.
Some of the most advanced equipment also has a habit of being sheperded into Iran in times of crisis

, as happened to several dozens of the most serviceable aircrafts in the first days of ODS. It looks like quantities of industrial equipment has followed on the same way in recent years too.
Even so, the figures on the Wiki page mentionned sound strange, but most of them may be valid for the '88-91 period or so.
For cross-reference, here is a summary of the armour assets available to the New Iraqi Army as of 2006, according to Jane's World Armies:
Code:
T-72/Asad Babl Main Battle Tank Up to 700
T-62 Main Battle Tank 300
T-54/55 Main Battle Tank 1,000
T-55 modified Main Battle Tank n/a
Type 59 Main Battle Tank n/a
PT-76 Amphibious Light Tank n/a
SU-100 Tank Destroyer n/a
AML-60 Light Armoured Car n/a
AML-90 Light Armoured Car n/a
BMP-1/2 Infantry Fighting Vehicle 1,200
BMP-2 Infantry Fighting Vehicle n/a
MT-LB Armoured Vehicle n/a
EE-9 Armoured Car n/a
ERC-90 Armoured Car n/a
Panhard M3 Armoured Car n/a
BRDM-1 Reconnaissance Vehicle n/a
BRDM-2 Reconnaissance Vehicle n/a
PSZH-IV Armoured Personnel Carrier n/a
BTR-50 Armoured Personnel Carrier n/a
BTR-60 Armoured Personnel Carrier n/a
BTR-152 Armoured Personnel Carrier n/a
EE-11 Armoured Personnel Carrier n/a
OT-62 Armoured Personnel Carrier n/a
OT-64 Armoured Personnel Carrier n/a
Walid Armoured Personnel Carrier n/a
Type 531 Armoured Personnel Carrier n/a
M-60P Armoured Personnel Carrier n/a
BMD-1 Airborne Combat Vehicle n/a
Note: About 2,200 main battle tanks and 3,000 other armoured fighting vehicles
were estimated to remain in the inventory prior to the Iraq war, although only
about 40-50 per cent of these were thought to be serviceable.
Note: Many of the tanks and armoured vehicles seized after the 2003 Iraq War
have been stored by US forces at Taji military camp north of Baghdad.
Not very helpful, I know, but that's how things appear to be for now!