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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    A "disturbing statistic" of an upcoming rise in food prices in Iraq... billions of imports from Turk

    Rocky
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    A "disturbing statistic" of an upcoming rise in food prices in Iraq... billions of imports from Turk Empty A "disturbing statistic" of an upcoming rise in food prices in Iraq... billions of imports from Turk

    Post by Rocky Sat 07 Jan 2023, 5:01 am

    A "disturbing statistic" of an upcoming rise in food prices in Iraq... billions of imports from Turkey annually

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    Baghdad today - Baghdad
    Statistics published by the economic expert, Manar Al-Obeidi, today, Saturday, revealed the volume of food imports from Turkey to Iraq, while he indicated that the value of imports constitutes 20% of the value of hard currency outside Iraq.
    Al-Obaidi mentioned, in the statistics that he published on his Facebook page, and followed by (Baghdad Today), that “Iraq's import of foodstuffs from Turkey alone amounted to more than 3.4 billion dollars during the year 2022, which means that the import of foodstuffs per month amounts to about 300 million dollars.” Adding that "Iraq's need for remittances to cover the purchase of foodstuffs only from Turkey amounts to about 11 million dollars per day as a minimum," while pointing out that "this amount represents about 20% of the money currently transferred outside Iraq after the recent procedures."
    And he continued, "This issue will lead to a great scarcity in the import of foodstuffs as a result of the high value of remittances, and thus will contribute to the disappearance of many foodstuffs from the local market and an increase in their prices as a As a result of the high value of remittances, explaining that "the coming weeks will undoubtedly witness an increase in meat prices." and chicken, and a rise in the price of dairy products.
    Al-Obeidi warned, saying, “If the government does not take quick measures, we will witness a significant rise in the prices of wheat and the products that will be used in its manufacture,” stressing that “the matter is not limited to its rise, but the Iraqi market will see scarcity in many imported food products, some of which can be covered. With local products and others that will not be replaced, we may witness their disappearance from the Iraqi market.”
    The economist pointed out that "the total monthly imports of Iraq are around 5 billion dollars, and many of the imports were purchased on credit, as they need to be paid for in any way to the sources," noting that "with the emphasis on remittances, we may also witness a rise in remittance prices, especially to Dubai and from It is possible to exceed the barrier of 3%, which is a large number.

    And he pointed out that "it is possible for the transfers to rise more because the merchant is forced to transfer this money in any way, as he is forced to transfer it to pay old bills to suppliers around the world," explaining that "if quick solutions are not found during the coming days, it is expected to be higher It is the most likely scenario to happen.
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    Iraq topped the list of Turkey's neighboring countries importing Turkish goods and commodities during the first half of last year 2022, while Bulgaria ranked second, and Greece ranked third.
     According to the statistics of the Turkish Ministry of Trade, Turkish exports to neighboring countries amounted to $11.4 billion during the first six months of 2022.
    Exports went to Bulgaria, Georgia, Iraq, Iran, Syria and Greece, and increased by 25.4 percent during the aforementioned period, compared to the same period in 2021.
     
    Iraq topped the list of neighboring countries of Turkey, the most importing with 4 billion and 837 million dollars, Bulgaria came second with two billion and 265 million, then Greece with one billion and 558 million, and Iran with one billion and 159 million dollars.
     
    Georgia ranked fifth among these countries, with 897 million and 740 thousand dollars, and Syria with 729 million and 928 thousand dollars.
     
    It is also noteworthy that the total Turkish exports during the first half of the year 2022 set a record of $126 billion, an increase of 20 percent compared to the same period of 2021.
     
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