Iraq-China trade volume surged in 2021

Shafaq News/ Trade with China, Iraq's third export destination and the largest import partner in West Asia, has increased significantly in 2021.

The COVID-19 crisis caused both exports and imports between Iraq and China to slow down in the first months of 2020, but both quickly recovered over the following months.

In 2021, China exported $10.6 billion to Iraq. The main products that China exported to Iraq are machines ($1.657 billion), electronics ($1.5 billion), and furniture ($809 billion).

"During the same period, Iraq exported $26.647 to China. The main products that Iraq exported to China were mineral fuel, mineral oil, and distilled products ($26.643 billion) and chemical products ($1.263 billion)," it added, "exports grew 12% from 2017 to 2021."

During the last 26 years the exports of China to Iraq have increased at an annualized rate of 52.3%, from $298 thousand in 1995 to $10.657 billion in 2021.