Official: Iran’s Exports to Iraq to Grow

The Secretary-General of Iran-Iraq Joint Chamber of Commerce said that the country’s exports of products to neighboring Iraq will reach US$10 billion before the end of this Iranian year 1401 (to end Mar. 20, 2023). Although Iran’s exports to Iraq witnessed a reduction in value, it is predicted that this decline will be compensated for in coming months in a way that Iran’s exports to this country will hit US$10 billion by the yearend, Jahanbakhsh Sanjabi, Secretary-General of Iran-Iraq Joint Chamber of Commerce stated. On the latest situation of trade between Iran and Iraq, the economic official noted that Iran’s export of products to neighboring Iraq in the first seven months of the current year (from March 21 to Oct. 22) registered a considerable decline in volume.

Elsewhere in his remarks, Sanjabi pointed to the products imported into the country from Iraq in the current year (started March 21, 2022) and said that Iran’s import of products from Iraq showed a decline as compared to the last year’s corresponding period. He put the value of products exported from Iraq into the country last year (ended March 20, 2022) at more than US$1 billion, showing a 700% growth as compared to the same period of the year before. The Secretary-General of Iran-Iraq Joint Chamber of Commerce pointed out that Iran exported US$8.860 billion worth of products to neighboring Iraq last year, the rate of which is expected to hit something between US$9 and US$10 billion by this yearend. - Mehr