AhlulBayt News Agency: Iran has reported a notable decline in its exports to Iraq, largely due to reduced natural gas shipments to the neighboring country.
The chairman of the Iran-Iraq Joint Chamber of Commerce stated on Tuesday that Iran’s exports to Iraq fell by 18% year-on-year in the five months leading up to August 22, totaling $3.750 billion.
Yahya Al Es’haq added that in volume terms, exports dropped by nearly 24% year-on-year during the June quarter, reaching just over 10 million metric tons.
He expressed optimism that exports could recover in the second half of the calendar year ending in March, estimating total exports—including unregistered shipments—could reach $14 billion.
Al Es’haq noted that exports to Iraq represented nearly 18% of Iran’s total exports during the five-month period.
He also mentioned that Iraq’s exports to Iran amounted to only $176 million between April and August.
An official from Iran’s Trade Promotion Organization (TPO) said the decline in exports was primarily due to reduced natural gas deliveries.
Abdolamir Rabihavi, head of TPO’s West Asia Office, reported that Iranian gas exports to Iraq dropped by more than 40% year-on-year in the April-August period, totaling $950 million.
Al Es’haq reiterated that Iraq remains a key export destination for Iran, and projected that exports could reach $20 billion in the coming years.
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