2024-06-01T09:38:37+00:00
font
Enable Read Mode
A- A A+
Shafaq News / Iraq ranked fourth among the countries with the highest imports from Turkey in April, according to a Turkish Statistical Institute (TurkStat) report released on Saturday.
The report highlighted that Turkey’s exports in April amounted to $19.254 billion, up 0.1% compared to April 2023. Imports reached $29.117 billion, up 4.0% compared to the same period.
Turkey’s main export market is Germany with export value of $1.483 billion. The United States came in second with $1.186 billion, the United Kingdom third with $1.17 billion, Iraq fourth with $876 million, and Italy fifth with $861 million.
In particular, most of Iraq’s goods, manufactured products and foodstuffs are imported from neighboring countries, especially Turkey and Iran, and some from the Gulf Arab countries and Jordan.
According to a statement released earlier this month by the Iraqi Future Economic Research and Consultation Foundation, Iraq’s imports from Turkiye increased by 32% in the first quarter of 2024 compared to the same period in 2023.
Total imports reached $2.9 billion, with food exports, led by flour, rising 31 percent, while exports of other goods, including gold, surged 49 percent and machinery and transport equipment increased 35 percent, the foundation said.
According to Turkish data, bilateral trade between Turkey and Iraq fell to $19.9 billion in 2023 from $24.2 billion in 2022. In the first three months of 2024, Turkish exports to Iraq increased by 24.5 percent, while imports fell by 46.2 percent.
During President Recep Tayyip Erdogan’s one-day visit to Iraq in mid-April, Baghdad and Ankara signed more than 26 memorandums of understanding in a range of fields, including culture, agriculture, education and health.
The agreements signed include strategic framework agreements, water management cooperation, infrastructure development projects, economic and trade committees, investment protection, military training, security cooperation, cultural exchanges, education cooperation, tourism, labor, justice, energy, and media.
