Unprecedented recession in winter sales in Iraq

Shafaq News / Iraqi markets are experiencing an unprecedented recession these days compared to previous years when they were bustling with shoppers seeking winter clothes during the onset of cold waves.

According to Mais Ali, a 26-year-old owner of a clothing store from Babil province, sales this year have been sluggish. She stated, "There's no interest from citizens in buying clothes, despite this period being considered a season for selling winter merchandise."

Ali explained to Shafaq News Agency that "the store has not achieved sales sufficient to cover the rent yet, despite advertising discounts, Black Friday deals, and free offers. Clothes are still piled up in the store without customers."

Um Ali, 33, a citizen from Baghdad, noted, "During this time every year, we usually shop for winter clothes, but this year there hasn't been a cold winter yet to warrant buying. Winter in Iraq usually lasts only a couple of months." She, having three sons and a daughter, mentioned, "The prices of clothes this year are unusually high, and those with multiple children will try to economize and avoid purchasing except for necessities."

Economic researcher Ali Abdul-Kadhim explained, "In economics, there are essential and non-essential goods. The government supports essentials through ration cards, electricity, and water subsidies, hence their lower prices. However, non-essential items like clothes are not subsidized, falling under the responsibility of the private sector."

Abdul-Kadhim continued, stating that "private sector traders import in two ways: some import at the official rate of 1320, selling at lower prices, while others import at the official rate and sell at the parallel rate, resulting in higher prices. This varies due to the ethics of the trader."

Economic researcher Abdulsalam Hassan Hussein observed, "The working class is losing the sense of citizenship because the government is preoccupied with future projects, neglecting support for this vital sector, which toppled governments that neglected the poor." He emphasized, "The decrease in purchasing power is due to the fluctuating rise of the dollar, controlling the market, and citizens' loss of trust in government banks, along with the impact of the Gaza war, resistance faction attacks internally, and American threats in this regard."