Iran’s export to Iraq has exceeded $6.2 billion in the eight Iranian calendar months to November 21, showing a 30% growth compared to the same period last year, according to an official with the knowledge of the matter.
Hamid Hosseini, a member of the Iran-Iraq Joint Chamber of Commerce, made the remarks in an interview with IRNA on Monday, noting that due to the fact that the March-November export from Iran to Iraq increased by 30%, it is predictable that the export volume would hit a new record of $10 billion by the end of the current Iranian calendar year (March 20, 2024).
Hosseini said that despite all the challenges regarding the currency supply and exchange rate in Iraq, the trend of export of Iranian commodities to the Arab country experienced a rising pace, and exports stood at an average of $775 million per month this year.
The businessman also referred to the fact that Iran is Iraq's fourth trade partner after the UAE, China, and Turkey, adding that if the Central Bank of Iran exempts agricultural products as well as technical and engineering services from special export duties, it would positively affect the export volume from Iran to Iraq.
Hosseini said construction materials, steel and agrifood still account for a major part of export shipments from Iran to Iraq.