Shafaq News/ Iraq ranked fourth among the countries importing the most from Turkiye in April, according to a report by the Turkish Statistical Institute (TurkStat) released on Saturday.
The report highlighted that Turkish exports in April amounted to $19.254 billion, reflecting a 0.1% increase compared to April 2023. Imports reached $29.117 billion, marking a 4.0% rise over the same period.
Germany was Turkiye's main export partner, with exports totaling $1.483 billion. The United States followed in second place with $1.186 billion, the United Kingdom in third with $1.170 billion, Iraq in fourth with $876 million, and Italy in fifth with $861 million.
Notably, most of Iraq's goods, merchandise, and foodstuffs are imported from neighboring countries, particularly Turkiye and Iran, and some from Gulf Arab states, as well as Jordan.
Iraq's imports from Turkiye climbed 32% in the first quarter of 2024 compared to the same period in 2023, according to a statement released by the Iraq Future Foundation for Economic Studies and Consultations Earlier this month.
Total imports reached $2.9 billion, driven by a 31% increase in foodstuff exports, mainly flour. Additionally, exports of other commodities, including gold, surged by 49%, while machinery and transportation equipment saw a 35% rise, the foundation stated.
Turkish data showed that Turkiye's bilateral trade with Iraq was worth $19.9 billion in 2023, down from $24.2 billion in 2022. In the first three months of 2024, Turkish exports to Iraq rose 24.5%, while imports fell 46.2%.
During President Recep Tayyip Erdogan's one-day visit to Iraq in mid-April, Baghdad and Ankara signed more than 26 MOUs in various fields, including culture, agriculture, education, and health.
The agreements signed include a strategic framework agreement, cooperation in water management, infrastructure development projects, economic trade committees, investment protection, military training, security cooperation, cultural exchange, educational collaboration, tourism, labor, judiciary, energy, media, and more.