Iraqi economist questions link between Indomie imports and dollar smuggling

Shafaq News/ Iraqi economist Nabil al-Marsoumi has raised questions about a potential connection between the import of instant noodles, known as "Indomie," and dollar smuggling, citing data from the General Customs Authority.

Al-Marsoumi noted in a statement that “Iraq imported around 64.185 tons of Indomie in 2023, with a value of $17.7 million, or approximately 23.6 billion dinars, through all border crossings, excluding Kurdistan Region.”This figure represents an 18% increase compared to 2022, he added.

The actual amount “is likely to rise to more than $50 million annually, since two-thirds of Iraq's imports are not registered with the General Authority of Customs, but pass through Kurdistan and illegal crossings,” Al-Marsoumi reckoned.

Al-Marsoumi highlighted that the US Federal Reserve had previously expressed surprise at Indomie's unusually high import bills, which he described as very large and much larger than the published figures.

He further questioned whether these imports genuinely reflect a national demand for the food item or serve as a means to channel dollars out of the country.