Iraq's imports reach $70 billion in 2023: report

Shafaq News/ Iraq imported $70 billion worth of goods from 11 countries in 2023, according to a report published by the Iraq Future Foundation for Economic Studies on Thursday.

The report, which is based on data from the official customs authorities, found that the top 11 exporters to Iraq in 2023 were United Arab Emirates, China, Turkiye, India, US, Saudi Arabia, Brazil, South Korea, Germany, Japan, and Iran.

The report found that Iraq's total imports from these countries increased by 6% in 2023 compared to 2022. Excluding Iran, Iraq's imports from these countries increased by 2.8%.

The report also found that Iraq's daily foreign currency needs for imports (excluding Iran) are estimated at $206 million. If the cost of importing services is included, the daily foreign currency needs are estimated to increase to $225 million.