Iran traded 944,845 tons of non-oil commodities worth $394.23 million with Iraq during the first Iranian month (March 21-April 20) to register a 2.8% decline in tonnage and 0.07% growth in value compared with the year before, latest data released by the Islamic Republic of Iran Customs Administration show.
Iraq was Iran's fifth biggest trading partner during the period under review after China, the UAE, Turkey and India.
Iran’s exports to Iraq stood at 939,576 tons of goods worth $388.54 million to register a 3.14% and 1.08% decline in tonnage and value respectively year-on-year.
Iraq was Iran’s second export destination in the world after China.
Iran exported tomatoes, watermelon, low-density oils, mineral oils and cheese to Iraq during the month.
Iraq exported 5,269 tons of commodities worth $5.69 million to Iran, up 150.9% and 378.44% in tonnage and value respectively YOY. The country was the 28th exporter of goods to Iran during the month.
Iran mainly imported chemicals, aluminum alloy, kraft paper and computer networking devices from Iraq.
The above figures show Iran recorded a trade surplus of $383.85 million with neighboring Iraq.
In a surprise move, the federal government of Iraq banned the import of juice and beverages as well as ice-cream and pastry from Iran as of June 1, citing a bid to support domestic producers.
This is while Iran’s neighboring country to the west has also enforced a ban on Iranian cement since April 21, according to a report by Tehran Chamber of Commerce, Industries, Mines and Agriculture.
The Trade Promotion Organization of Iran has notified all Iranian exporters of the new measure in a letter sent to industries, mining and trade organizations and chambers of commerce of all Iranian provinces.
Iraq was the second biggest destination of Iran's non-oil exports in the last Iranian year that ended on March 20, 2019.
Iraq’s imports from Iran last year (March 2018-19) grew by 49% in weight and 37% in value to reach 19.76 million tons worth $8.9 billion.
Iran’s exports to Iraq included liquefied natural gas, mineral oils, household cleaning detergents, low-density oils and tomatoes.
Notably, the rise in Iran's non-oil exports to Iraq saw the highest rise among Iran's 15 neighboring countries last year.
According to Minister of Industries, Mining and Trade Reza Rahmani, Iran was the biggest exporter to Iraq last year.
"This is the first time Iran tops the list of exporters to neighboring Iraq … We need to retain this status using our full potential, as our rivals Turkey and China trail closely behind the Islamic Republic," the minister was quoted as saying by IRNA.
With over $1.93 billion, Iraq was the biggest importer of Iran's mineral products last year.
According to data released by the Iranian Mines and Mining Industries Development and Renovation, a total of 9.67 million tons of different mineral products were exported from Iran to the neighboring country last year.
According to Secretary-General of Iran-Iraq Chamber of Commerce Hamid Hosseini, Iran's mineral exports to Iraq last year mainly included non-precious metals worth $1.13 billion, which experienced an over 50% rise compared to the year before.
More specifically, the bulk of exports included steel products worth $1 billion as well as copper products worth $71 million.
Health Minister Saeed Namaki recently said Iran would start exporting drugs and medical equipment to neighboring Iraq soon.
Namaki made the statement on the sidelines of the 22nd Iran International Health Exhibition dubbed “Iran Health 2019”, Mehr News Agency reported.
