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A noticeable increase in the rate of Iraq's import of Chinese cooling devices
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2024-04-25 04:34
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2024-04-25 04:34
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Shafaq News/ The Future Iraq Foundation for Economic Studies and Consultations indicated on Thursday that the number of cooling devices imported from China during the first quarter of the current year 2024 increased by 28% compared to the first quarter of 2023.
According to a report issued by the corporation, the rate of imports in 2024 reached 1.3 million cooling devices, worth 402 million US dollars, compared to 1 million devices in 2023, worth 318 million dollars.
According to data from the Chinese Customs Authority, refrigeration equipment represents approximately 10% of all Iraqi imports from China in terms of value.
The report noted that cooling devices have a direct impact on electricity production, thus increasing pressure on the energy system and increasing outages even with increased production due to the lack of proportion to consumption.
The corporation indicated in its report that manufacturing cooling devices is not a complex and difficult industry, but rather it is possible to find more than one Iraqi factory to produce these devices using Iraqi raw materials.
The report considered that reducing the import bill for air conditioners has a direct impact on the demand for the dollar in the local market because of its value, which is considered the highest among all imported goods, thus reducing the exchange rate of the dollar against the dinar.
The Corporation confirmed that the high growth in cooling devices at such a large rate will lead to pressure in the coming years on imports and on the electrical energy system, as well as impact on the environment through the heat generated by these devices.
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According to a report issued by the corporation, the rate of imports in 2024 reached 1.3 million cooling devices, worth 402 million US dollars, compared to 1 million devices in 2023, worth 318 million dollars.
According to data from the Chinese Customs Authority, refrigeration equipment represents approximately 10% of all Iraqi imports from China in terms of value.
The report noted that cooling devices have a direct impact on electricity production, thus increasing pressure on the energy system and increasing outages even with increased production due to the lack of proportion to consumption.
The corporation indicated in its report that manufacturing cooling devices is not a complex and difficult industry, but rather it is possible to find more than one Iraqi factory to produce these devices using Iraqi raw materials.
The report considered that reducing the import bill for air conditioners has a direct impact on the demand for the dollar in the local market because of its value, which is considered the highest among all imported goods, thus reducing the exchange rate of the dollar against the dinar.
The Corporation confirmed that the high growth in cooling devices at such a large rate will lead to pressure in the coming years on imports and on the electrical energy system, as well as impact on the environment through the heat generated by these devices.
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