Iraq's trade increases with Turkey, drops with Iran: ministry

ERBIL, Kurdistan Region - Trade with Turkey has increased in the first six months of this year, but has decreased with Iran, the spokesperson for Iraq’s Ministry of Trade told Rudaw on Thursday.

 

"Trade with Turkey reached $6.929 billion as of the end of June this year. Turkey's exports to Iraq stood at $5.638 billion, while Iraq's exports to the country stood at $991.615 million," said Mohammed Hanoun.

 

Earlier this year, Turkey’s consul general to Erbil said that Iraq and Turkey did $18 billion dollars of trade in 2024. https://www.rudaw.net/english/kurdistan/270520251 

 

Hanoun said that his data is not complete, but maintained that there has been an increase. The numbers he provided were what was recorded at the International Trade Center, he said, but "there are other trade movements between the two countries, which I do not think are registered at the International Trade Center. Trade volume with Turkey has increased. There is huge economic coordination between Iraq and Turkey.”

 

Iraq's main exports to its northern neighbor are "oil, dates, vegetables and fruit," Hanoun said, while its imports from Turkey include construction materials, energy and food. Iraq also depends on Turkey for some food staples, such as tomato sauce and vegetables. About 60 to 70 percent of these imports are Turkish.

 

Iraq also imports gold from Turkey, and other nations such as the UAE and Bahrain, but it plans to build a “gold city” in Baghdad and become an exporter of the precious metal, said Hanoun.

 

Trade with Iran, with whom Iraq shares a long border, has dropped, according to Hanoun who said they exported $178 million worth of goods to Iran and imported $4.328 billion. In 2024, total trade volume between them stood at $12.5 billion.

 

"The Israeli and US attacks on Iran have caused traders to act cautiously," said Hanoun.

 

In June, Israel targeted Iranian nuclear facilities and military leadership. The US also carried out airstrikes on Iran. Tehran responded with multiple waves of missile and drone attacks on Israel. The 12-day war ended with a ceasefire.