Tridge summary
Trade between Iran and Iraq has seen a significant increase in the first five months of the Iranian year, with Iraq being Iran's second largest export destination. Imports from Iraq surged 970% in weight and 430% in value compared to the previous year, reaching 313,612 tons worth $175.99 million. Exports to Iraq also increased by 53% in tonnage and 31% in value, amounting to 12.02 million tons worth $3.16 billion. The reopening of common borders and easing of Covid-19 regulations were credited for the growth in trade. The majority of exports were shipped through Kermanshah Province and the Iraqi Kurdish Region, with agricultural and food products, including fresh fruits and vegetables, making up about 30% of total exports. The Iranian government is also working on connecting the two countries' rail systems via the Basra–Shalamcheh line.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
EghtesadOnline: Iran’s imports from its western neighbor, Iraq, stood at 313,612 tons worth $175.99 million in the first five months of the current Iranian year (March 21-Aug. 22), showing a 970% and 430% surge in weight and value respectively compared with the similar period of last year, according to the spokesperson of the Islamic Republic of Iran Customs Administration. “Exports to Iraq reached 12.02 million tons worth $3.16 billion, indicating a YOY increase of 53% and 31% in tonnage and value respectively. The figures made the country Iran’s second biggest export destination over the period,” Rouhollah Latifi was also quoted as saying by ISNA.The official attributed the considerable growth in Tehran-Baghdad trade to the reopening of common borders and easing of regulations related to the Covid-19 pandemic.About half of Iran’s exports to Iraq is shipped through Kermanshah Province and the Iraqi Kurdish Region.According to director general of Arab-African Office of ...
Source: Eghtesadonline.com
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