Iran’s Exports to Iraq Up 30% in 7 Months: Official
TEHRAN (Tasnim) – A member of the Board of Directors of the Iran-Iraq Joint Chamber of Commerce said that Iran’s exports to neighboring Iraq registered a 30 percent growth in 7 months, adding that achieving $12 billion worth of exports to the Arab country is possible by the end of the current year.
Regarding the latest trade situation between Iran and Iraq, Seyed Hamid Hosseini said that the country’s export trend to Iraq was positive despite the existence of problems created for Iranian exporters and also the restrictions created by the Central Bank of Iraq to supply currency for purchasing products from Iran.
He put the value of products exported from Iran to Iraq in the seven months of the previous Iranian calendar year (March 21 to October 2022) at $7.2 billion, noting that Iran’s export of non-oil products to neighboring Iraqi increased to $5.4 billion in the first seven months of the current Iranian calendar year (March 21 to October 22, 2023).
He pointed to -$7.7 billion balance of the country’s foreign trade from March 21 to October 22, 2023, and added that exporting products to Iraq should be facilitated to compensate for the trade balance deficit.
According to the President of the Islamic Republic of Iran Customs Administration (IRICA), the foreign trade of the country has increased by 6.2 percent since the beginning of the current year up to the end of the Iranian month of Mehr (October 22).