Jan 15, 2024, 3:00 PM


Iran's exports to Iraq tops $6.2bn in March-Nov.

Iran's exports to Iraq tops $6.2bn in March-Nov.

TEHRAN, Jan. 15 (MNA) – Iran’s export to Iraq reached some $6.2 billion from March 21, 2023, to November 21, 2023, showing a 30% growth compared to the same period last year, an Iranian businessman has said.

Hamid Hosseini, a member of the Iran-Iraq Joint Chamber of Commerce, made the remarks on Monday, noting that because the March-November export from Iran to Iraq increased by 30%, it is predictable that the export volume would hit a new record of $10 billion by the end of the current Iranian calendar year (March 20, 2024).

Hosseini said that despite all the challenges regarding the currency supply and exchange rate in Iraq, the trend of export of Iranian commodities to the Arab country experienced a rising pace, and exports stood at an average of $775 million per month this year. 

He said Baghdad has been trying to persuade Tehran to approve gas transit and swap deals with Turkmenistan to meet the gas needs in the Arab country for the generation of over 4,500 megawatts of electricity

The businessman also referred to the fact that Iran is Iraq's fourth commercial partner after the UAE, China, and Turkiye, adding that if the Central Bank of Iran exempts agricultural products as well as technical and engineering services from special export duties, it would positively affect the export volume from Iran to Iraq.

Hosseini said construction materials, steel, and agrifood still account for a major part of export shipments from Iran to Iraq.


News ID 210829


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