Iraq Destination of 18% of Iran’s Exports in 5 Months

TEHRAN (Tasnim) – Iran exported more than $3.5 billion worth of non-oil products to neighboring Iraq in the first five months of the current Iranian calendar year (March 21 to August 22), meaning that the Arab country accounted for 18.3 percent of Iran’s total export share in this period.

Iran and Iraq have targeted $20 billion in trade, Chairman of Iran-Iraq Joint Chamber of Commerce Yahya Al-e Es’hagh stated.

Iran and Iraq enjoy high potentials in all fields, especially in the fields of trade and economy to boost their trade value to $20 billion in the coming year, he emphasized.

Iraq will become the main country in the region in the field of investment within the next 10 years, Al-e Es’hagh said, calling on Iranian investors to make investments in the lucrative and profitable Iraqi market.

The United Arab Emirates, China and Iran are Iraq’s major trade partners, he noted.

He went on to say that Iran exported $8.9 billion worth of non-oil products to Iraq in 2021.

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