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Iran’s exports to Iraq hits new record at $55mn in one day !
“This year, Iran’s exports to Iraq has been growing and during the first four months of this Iranian year (beginning on March 21) Iran exported $40 million worth of goods to Iraq per day,” Sayed Hamid Hosseini told Iranian Fars News Agency on Saturday.

Comparing last year’s value of Iran’s exports to Iraq with this year’s, Hosseini said that the figure only stood at 20 million per day last year, noting that the decline in the price of the  Iran’s national currency the rial and a favorable environment for Iranian products in Iraq’s market were the two main factors behind the rise in Iran’s exports.

Stating that yesterday, 8,000 tons of goods were exported to Iraq which were worth $55 million, the Secretary-General of Iran-Iraq Chamber of Commerce said that the exports on Monday set a new record.

He said that while an average of 40 to 50 trucks carry goods to Iraq through Iran's Khosravi border crossing per day, that number increased to 500 trucks on Monday.

During the first four months of the current Iranian fiscal year (beginning on March 21), 4.78 million tons of goods worth $2.522 billion were exported to Iraq, indicating 23% and 14% increase in value and volume, respectively as compared to the same period last year.

In total, the value of Iran’s exports to Iraq during the four-month period stood at $15.450 billion, which was 14.7% higher than in the same period last year.

The growing trade transactions come at a time when the US government has asked the Iraqi government to abide by the new round of sanctions it re-imposed on Iran after its unilateral withdrawal from the Iran nuclear deal on May 8.

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Iraq Emerges as Iran’s Top Export Destination
TEHRAN (Tasnim) – Iraq has emerged as Iran's top export destination in the current Iranian year, an official announced.

[Image: 1396040615573282211255954.jpg]

The director of the export bureau of Iran’s Customs Office, Ali Akbar Shadmani, said the value of the country’s exports since the beginning of the current Iranian year (March 21, 2018) has surpassed $30 billion, with Iraq being the top export destination.

He said the value of exports has risen by 12.5 percent compared to the corresponding period last year.

Iraq has imported 21 percent of the Iranian commodities this year in terms of value, worth $6.607 billion, he noted.

The main goods exported to Iraq include natural gas, steel bars, oils and bitumen, home appliances, and agricultural products, the official added.

President of Iraq Barham Salih visited Tehran on Saturday with a ranking delegation for a series of political and economic talks.

After high-profile talks between the Iranian and Iraqi delegations, Iranian President Hassan Rouhani said the two neighbors can increase their annual trade from the current $12 billion to $20 billion.

Rouhani also noted that the two sides discussed ways for cooperation in the energy, power and oil industry, including the extraction of petroleum, and a plan to connect the two countries’ railroad networks.

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