More Than $24 Bn in Trade Exchange Between Iraq and China During H1 2023

Shafaq News / The first half of 2023 saw more than $ 24 billion in trade between China and Iraq. According to a report released on Friday by the "Iraq Future Foundation."

The report said 24.16 billion dollars were traded between China and Iraq in the first half of 2023, a decrease of 2.6% from the first half of 2022 and 14.85% from the second half of 2022.

Moreover, the report said that China's global trade exchange volume decreased by 4.67% to 2.9 trillion dollars in the first half of 2023 from 3.06 trillion dollars in the same period the previous year.

It is worth noting that China and Iraq have a long trade history; in recent years, trade between the two countries has grown significantly, with China becoming one of Iraq's largest trading partners since 2012.

The main exports from China to Iraq are machinery, textiles, and metals. The main imports from Iraq to China are oil, mineral, and chemical.

The growth in trade between China and Iraq is driven by several factors, including Iraq's vast oil reserves and China's growing demand for energy. China is also investing heavily in Iraq's infrastructure, creating new opportunities for trade and investment.