Depends on imports as a result of stopping production in industry and agriculture
Baghdad - the new morning:
During the past six years, Iraq imported more than 44.66 billion dollars in merchandise.
Iraq depends almost entirely on imports, as a result of the halt in production in industry, agriculture and other sectors due to the failure to keep pace with the development taking place after the wars that Iraq fought.
And the news websites obtained government reports, showing Iraq's import of non-oil commodity goods worth more than 44.66 billion dollars.
China is Iraq's third trading partner, after Iran and Turkey, especially since the majority of Iraqi businessmen have opened factories in China to import electrical appliances due to labor licenses and raw materials, and China imports oil from Iraq daily between 800,000 barrels - one million barrels.
Professor of economics at Kansas State University in the United States of America, Dr. Muhannad Talib al-Hamdi, said in an interview that the first main factor behind the increase in Iraq's imports from China is facilitating the entry of low-quality goods due to the collapse of the system of quality control and control in Iraq and financial and administrative corruption, pointing to The greed of importers to achieve maximum profits in the shortest period of time called for them to bring in low-quality goods that would be consumed in a shorter period.
He noted that the level of consumer income in Iraq is low and he prefers to buy relatively cheap goods, in addition to the low educational level of a large proportion of Iraqis that makes them do not differentiate between the types of products according to their quality.
On the other hand, the economist, Ali Daadoush, said in a statement, “China is one of the most prominent importers of Iraqi oil in very large quantities, in addition to the fact that goods of all kinds that are imported from China are considered cheap compared to the rest of the countries exporting goods and other products to Iraq.”
He stressed that "Iraq is within the orbit and plan of the Silk Road, and the Iraqi lands are the closest and cheapest ways, as they are invested by China in a way that reduces the costs it spends."
It is reported that all Chinese companies in Iraq maintained their business during the Corona virus crisis to implement their projects.
For years, China has continued its unremitting efforts to obtain large investment projects in Iraq, including the fields of energy, reconstruction, and others.
Specialists believe that China's real goal is to revive the "Belt and Road" project, as it seeks and plans to expand its seaports and renew its land lines, in order to gain positive returns.
Iraq's crude oil exports to China are estimated at 44% of the total oil exports, according to the data of the oil tanker tracking website, and this reflects the strength of Chinese economic relations and the increasing need of China for oil, especially Iraqi crude oil.
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