Shafaq News/ Iraq's annual exports to the United Statesexceed $7 billion, the US Census Bureau announced on Saturday.
In an official report, the Bureau revealed that Iraq'sexports to the US totaled $7.42 billion annually, noting that Iraq faces a 39%customs tariff imposed by the US on its goods.
It also pointed out that Iraq’s share of total US importsfrom around the world is a modest 0.22%, while the trade balance between thetwo countries stands at $5.70 billion.
The trade balance reflects the difference between the valueof a country's exports and imports. When exports surpass imports, the result isa trade surplus, leading to a positive trade balance.