By John Lee. The gap between Iraq's official and parallel market exchange rates for the dinar widened from mid-December 2025 before stabilising in early March 2026, reflecting shifts in import demand and recent customs reforms. Ahmed Tabaqchali, in his latest monthly report for Iraq Business News, says the divergence was driven by increased demand for […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Beleaguered by low oil prices, Iraq moves to curtail customs evasion A new scheme aimed at combating customs evasion has triggered nationwide protests and strikes in Iraq. Traders say the new regulations have […]
By John Lee. Iraq's General Customs Authority has approved new mechanisms for calculating the customs value of imported goods. The mechanisms will be applied across all customs centres and include the following measures: Adoption of the customs value stated in duly declared commercial invoices submitted under the advance declaration system, supported by bank transfers, at […]
By John Lee. Iran risks losing market share in Iraq unless it modernises its commercial systems and improves data-driven planning, according to the Tehran Times. Yahya Al-e-Eshaq, head of the Iran-Iraq Joint Chamber of Commerce, is quoted as saying that formal bilateral trade reached $12 billion last year, rising to nearly $15 billion when informal […]
By John Lee. Iraq's Cabinet has revised the sale price of asphalt to 450,000 dinars [$343] per ton, up from 350,000 dinars, applicable equally to both public and private sectors. Asphalt from the Qayyarah refinery will remain at 300,000 dinars per ton for all types, with pricing to be reviewed in four months. An 80-percent […]
By John Lee. Egypt's exports to Iraq have increased by more than 12 percent from January to May, compared with the same period last year. Citing data from the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt's official statistical agency, Egypt Today says exports increased from $274.7 million to $308.5 million. More here. (Source: […]
By John Lee. The Amman Chamber of Industry (ACI)'s exports to Iraq climbed by 9 percent in the first half of 2024. Total exports to Iraq were 440 million Jordanian dinars [USD 621 million], up from 403 million JD for the same period in 2023. This put Iraq in fourth place, behind India, the United […]
By John Lee. The Ministerial Council for the Economy, chaired by Minister of Foreign Affairs Fouad Hussein, has approved a request from the Ministry of Agriculture to reduce customs duties on live animals imported for slaughtering and breeding purposes. According to the state-run Iraqi News Agency (INA), the decision was taken due to the high […]
By John Lee. The Turkish Statistical Institute has said that Iraq was Turkiye's third-biggest export partner in 2023. December 2023 - Main Export Partners: 1. Germany: $1.679 billion 2. USA: $1.314 billion 3. Iraq: $1.254 billion 4. United Kingdom: $1.217 billion 5. Italy: $1.022 billion Percentage of Top 5 in Total Exports: 28.2% January-December 2023 […]
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. A member of the Iran-Iraq Joint Chamber of Commerce said that $6.2 billion worth of non-oil goods were exported from Iran to Iraq in the first eight months of […]
By John Lee. Jordan's state-run Petra News Agency has said that exports from Jordan to Iraq have surged in 2023. Citing data from the Amman Chamber of Industry (ACI), it says that Jordanian exports to Iraq amounted to JD875 million [$1.2 billion] in 2023, compared to JD714 million in the previous year. This represents an […]
Highlighting the role of the Iran-Iraq Joint Commission in the removal of trade barriers between the two countries, the Iranian minister of economy said that Tehran and Baghdad will witness the considerable growth in bilateral trade next year (to start March 21, 2023). The two countries enjoy high potential to expand their trade and economic […]
