Surge in Chinese exports to Iraq
Shafaq News / The "Future Iraq" Institute for Economic Studies and Consultations highlighted on Sunday that the rate of Chinese goods exported to Iraq has surpassed $10 billion by the end of September in the current year.
According to the institute's report released today, data from the official Chinese customs authority indicates that the value of Chinese goods exported to Iraq by the end of September 2023 reached $10.7 billion, showing an increase of 11.5% compared to the same period last year, which was only $9.6 billion.
The report notes that electrical appliances, constituting the largest portion of Chinese exports, soared to $2.14 billion, marking a 34% increase compared to the previous year. Similarly, Chinese iron exports surged by 39% compared to the previous year, as stated in the institute's report.
Contrarily, the report indicates a 5% decrease in electronic devices compared to the same period last year.
China stands as Iraq's primary trading partner, with an annual trade volume exceeding $50 billion.
The institute published a chart accompanying the report detailing the types of Chinese goods exported to Iraq from the beginning of the current year until the end of September.
