Iran’s Exports to Iraq to Hit $12 Billion by Yearend: Official
Iran’s export of products to neighboring Iraq will reach $12 billion by the end of the current Iranian calendar year (started on March 21, 2023), a member of the Presiding Board of the Iran-Iraq Joint Chamber of Commerce said.
Hamid Hosseini said the total value of Iran’s exports to Iraq will hit $12 billion at the end of the current year (to end on March 20, 2024) in case of continuation of gas exports to this country.
The growth trend of Iran’s export of products to Iraq has been maintained in the first eight months of the current Iranian calendar year, he added.
Iran’s export of products to Iraq in the first eight months of the current Iranian calendar year (March 21 to November 22, 2023) showed a 35 percent growth compared to the same period last year, he pointed out.
Iran and Iraq enjoy high potential to boost the level of bilateral trade, he said, adding that Iran has been the third exporting country to Iraq after China and Turkey over the past two and three years.
The Trade Promotion Organization of Iran (TPOI) has embarked on setting up an office in Iraq to boost bilateral trade.
According to the Islamic Republic of Iran Customs Administration (IRICA), Iran exported more than $32 billion worth of products from March 21 to November 22, 2023, more than $6 billion of which was exported to neighboring Iraq.