Iran boosts exports to Iraq by 21% over 5 months

Shafaq News/ Iran has exported goods worth over $4.5 billion to Iraq in the first five months of the current Iranian year (starting March 21), marking a 21% increase compared to the same period last year, according to Abdul Amir Rabihaavi, Director General of the West Asia Trade Development Organization in Iran.

As reported by the Iranian news outlet ILNA, Rabihaavi emphasized Iraq's importance as a strategic neighbor, stating, "The annual trade volume between Iran and Iraq is around $10 billion. In the first five months of this year, trade reached $4.8 billion, of which over $4.5 billion were exports."

Rabihaavi highlighted the significant growth in exports, which increased by 21% compared to the $3.55 billion exported during the same period last year. He expressed optimism, saying, "We hope to achieve the record figure of $10 billion in exports by the end of the second half of the year."

Iran's key exports to Iraq include liquefied gas, iron products, petrochemical goods, building materials, and food items. In contrast, most of the imports from Iraq consist of scrap iron, aluminum, and some petroleum products.