Iran’s exports to Iraq hits new record at $55mn in one day

TEHRAN, Aug. 21 (MNA) – The Secretary-General of Iran-Iraq Chamber of Commerce Sayed Hamid Hosseini said Tue. that Iran’s exports to Iraq recorded a new high, as $55 million worth of commodities was exported to the neighboring country on Monday.

“This year, Iran’s exports to Iraq has been growing and during the first four months of this Iranian year (beginning on March 21) Iran exported $40 million worth of goods to Iraq per day,” Sayed Hamid Hosseini told Iranian Fars News Agency on Saturday.

Comparing last year’s value of Iran’s exports to Iraq with this year’s, Hosseini said that the figure only stood at 20 million per day last year, noting that the decline in the price of the  Iran’s national currency the rial and a favorable environment for Iranian products in Iraq’s market were the two main factors behind the rise in Iran’s exports.

Stating that yesterday, 8,000 tons of goods were exported to Iraq which were worth $55 million, the Secretary-General of Iran-Iraq Chamber of Commerce said that the exports on Monday set a new record.

He said that while an average of 40 to 50 trucks carry goods to Iraq through Iran's Khosravi border crossing per day, that number increased to 500 trucks on Monday.

During the first four months of the current Iranian fiscal year (beginning on March 21), 4.78 million tons of goods worth $2.522 billion were exported to Iraq, indicating 23% and 14% increase in value and volume, respectively as compared to the same period last year.

In total, the value of Iran’s exports to Iraq during the four-month period stood at $15.450 billion, which was 14.7% higher than in the same period last year.

The growing trade transactions come at a time when the US government has asked the Iraqi government to abide by the new round of sanctions it re-imposed on Iran after its unilateral withdrawal from the Iran nuclear deal on May 8.

KI/FNA13970530000600

News Code 136996

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