For the first half of 2024, several nations declared the worth of their economic contacts with Iraq. Data tables of those nations indicate that:
Head of the Iraq Future Foundation Munar Al-Obaidi said, “The volume of trade exchange between Iraq and a group of countries amounted to 65 billion US dollars in the first half of 2024, an increase of 10% compared to the same period in 2023.” “Iraq exported goods valued 45 billion dollars to these countries in the first half of 2024, an increase of 11.6% compared to the same period.” “China topped the countries that import the most from Iraq, followed by India, then South Korea, then the United States, then most of these exports are crude oil,” he said. Al-Obaidi said, “In contrast, Iraq imported from these countries worth 19.6 billion US dollars, an increase of 8.1% compared to the same period of the previous year,” adding that “China topped the countries that export the most to Iraq, then Turkey, then India.” “Iraq’s trade balance with these countries amounted to 26 billion dollars in favour of Iraq, an increase of 14.4% compared to the same period of the previous year,” he said. “The United Arab Emirates and Iran did not announce on the volume of its trade exchange with Iraq in the first half of the current year, despite the United Arab Emirates had exported goods worth $22 billion to Iraq in 2023, and Iran had exported goods to Iraq during 2023 worth $10 billion, including electricity and gas,” he said.
“According to this data, the largest imbalance in Iraq’s trade balance with Turkey is $5.2 billion in favour of Turkey, up 15.3% over the same period in 2023,” he said. “It is expected that the volume of trade exchange between Iraq and the United Arab Emirates and Iran is added to it, thus the volume of trade exchange between Iraq and all of these countries will reach about $160 billion,” he said. “It is expected that the volume of trade exchange with these countries will reach about $130 billion by the end of 2024”.
