Iraq's imports from Turkiye reach $13 billion in 2023

Shafaq News / The Turkish Statistical Institute revealed, on Thursday, the volume of trade with Iraq during 2023.

According to the institute, Turkish exports to Iraq amounted to $12.8 billion, while Ankara imported $1.5 billion worth of goods from Baghdad during the past year.

The institute noted that the volume of trade between the two countries peaked in the past five years in 2020, reaching a total value of $17.3 billion.

However, that figure is expected to soar as the Turkish Ministry of Trade speculated last week that Turkish exports to Iraq would witness a significant increase to $15 billion soon and $20 billion by 2030. 

Turkish Minister of Trade, Omer Polat, stated to Anadolu Agency that "Iraq has always been one of the most important countries for Turkiye in terms of trade and economic relations."

On Monday, Turkish President Recep Tayyip Erdogan visited Baghdad and Erbil. During the visit, Iraq signed 26 agreements and memorandums of understanding with Turkiye, covering a wide range of fields. 

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.