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22 January 2019 - 19:41
Iran's non-oil exports to Iraq outstrips Turkey

The secretary-general of the Iran-Iraq Chamber of Commerce Seyyed Hamid Hosseini says volume of Iran's non-oil exports to Iraq was close to $ 9 billion in 2018, so Iran surpassed Turkey and Iraq became the first Iranian export market.

Hosseini said on Tuesday that the volume of Iran non-oil exports value reached 86,940,000 tons, worth $33,3 billion.

He noted that 5.4% increase in value was observed in non-oil exports of Iran in the first nine months of this current Iranian year (March 21). 

The official noted that in 2018, most of Iran's non-oil products were exported to Iraq, so the Iraqi state accounted for 21 percent of Iran's total exports during this period.

He highlighted the reasons for the increase in the non-oil exports to Iraq, “One of the reasons for the rise in the exports to Iraq was the devaluation of the national currency. This has increased Iran's competitiveness in targeted markets. Contrary to some experts' claims that Iranian rial's depreciation affected the exports, our products have become more competitive so that in 2018 we could surpass Turkey in the Iraqi market. 

The secretary-general of the Iran-Iraq Chamber of Commerce went on to say, according to Turkey's statistics, its exports to Iraq in 2018 were about $ 735 billion, while Iran's exports were reported at $ 738 million.

News Code 189896

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