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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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    Economic Institution: The value of China's exports to Iraq increased by 93% in 10 years

    Rocky
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    Iraq - Economic Institution: The value of China's exports to Iraq increased by 93% in 10 years Empty Economic Institution: The value of China's exports to Iraq increased by 93% in 10 years

    Post by Rocky Sat 18 May 2024, 4:43 am

    Economic Institution: The value of China's exports to Iraq increased by 93% in 10 years


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    2024-05-18 04:38
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    Shafaq News/ The “Future Iraq” Foundation for Economic Studies and Consultations reported on Saturday that the value of Chinese exports of direct goods to Iraq increased by 93% during ten years extending from 2015 to 2024, warning that this significant increase in imports will bring the country to The stage of its inability to cover the increasing demand for foreign currency.
    According to a report published by the corporation today, the total value of direct Chinese exports to Iraq in 2015 amounted to 7.9 billion US dollars, while it is expected to reach the end of 2024, according to data for the first months of the current year, at a value of 15.3 billion US dollars.
    The report said that exports of mechanical devices and equipment, which mainly include (air conditioning and refrigeration equipment), which represent 20% of China’s total exports to Iraq, increased by 162%, as in 2015 they represented a value of 1.4 billion US dollars, while they are expected to arrive in By the end of 2024, it reached more than 3.7 billion US dollars.
    Exports of electrical appliances, which represent 14% of the total value of Chinese exports to Iraq, also increased by 77%, as they represented a value of one billion US dollars in 2015, and are expected to reach 1.9 billion dollars by the end of 2024, according to the corporation’s report.
    The report indicated that the greatest growth was in China’s iron and steel exports, as the growth rate reached 280% compared to 2015, when the value of China’s iron exports to Iraq amounted to 131 million US dollars, and it is expected that by the end of 2024 it will reach a value of 500 million US dollars.
    China's exports of rubber materials, specifically tires, also increased by 195%, as the value of China's exports in 2015 was $151 million, while they are expected to reach $446 million at the end of 2024, according to the report.
    The Corporation attributed this increase in Chinese exports to several reasons, namely, the increased demand for various goods as a result of the increasing population growth and the expansion of construction in various Iraqi cities, as well as the fact that many Chinese goods were not shipped directly from China, but rather from other countries and were now exported directly from China.
    Among those reasons mentioned in the report are the re-export of many goods exported to Iraq to other countries and their use in the barter system with those countries, especially countries with which banking is prohibited, and the change in the consumption pattern of the Iraqi consumer.
    The corporation went on to review these reasons, and said, and pointed to the direct Chinese investments of Chinese companies in various sectors, which contributed to limiting the imports of some goods, such as iron and steel, from the Chinese side, in addition to the entry of the Chinese side into competition with some goods in which it did not have large market shares. Such as cars and telephones, with global inflation rates that led to a rise in global commodity prices.
    The report warned that, according to these growth rates, it is expected that the volume of Iraq’s exports from China alone by the end of 2030 will reach approximately 20 billion US dollars, warning that this significant increase in imports will bring Iraq to the point of being unable to cover all this increasing demand from Foreign currency, especially if Iraq's oil exports to China have remained stable at daily rates amounting to only 1.1 million barrels over the past five years, and there is uncertainty about the continuation of oil prices at current rates.
    In its report, the institution expected that the trade balance would shift from a positive balance in favor of Iraq to a positive balance in favor of China in the coming years, stressing that it is necessary to activate trade exchange mechanisms with China through which reliance is placed on creating a reserve fund in which a portion of sales funds will be placed. Iraqi oil to China, and it is used to cover imports from China instead of the complex mechanism that occurs now.
    The report concluded that it is necessary to work on analyzing these imports, and try to reduce some of them by transferring part of the manufacturing or assembly to inside Iraq, to ​​reduce the added value that Chinese factories place on their products, and thus reduce the value of imports from China, specifically in the most important goods. Such as mechanical and electrical devices, tires, and the like.
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    Iraq - Economic Institution: The value of China's exports to Iraq increased by 93% in 10 years Empty The value of China's exports to Iraq rises by 93% in 10 years.. What are the reasons?

    Post by Rocky Sat 18 May 2024, 7:31 am

    [size=35][size=35]The value of China's exports to Iraq rises by 93% in 10 years.. What are the reasons?[/size][/size]
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    Economy

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    05-18-2024 | 07:04
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    The value of direct Chinese exports to Iraq increased by 93% during ten years, extending from 2015 until the current year 2024.


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    The total value of direct Chinese exports to Iraq in 2015 was 7.9 billion dollars, while the expected arrival at the end of 2024, according to data for the first months of the current year, is 15.3 billion US dollars, according to statistics published by the head of the Future Iraq Foundation for Economic Research and Consultation, [url=https://www.alsumaria.tv/entity/472379501/%D9%85%D9%86%D8%A7%D8%B1 %D8%A7%D9%84%D8%B9%D8%A8%D9%8A%D8%AF%D9%8A/ar/]Manar Al-Obaidi[/url], and reviewed by Al-Sumaria. News.



    Al-Obaidi says that exports of mechanical devices and equipment, which mainly include (air conditioning and refrigeration devices), which represent 20% of China’s total exports to Iraq, increased by 162%, as in 2015 they represented a value of 1.4 billion US dollars, while they are expected to arrive at the end of 2024. To more than 3.7 billion US dollars.

    Exports of electrical appliances, which represent 14% of the total value of Chinese exports to Iraq, also increased by 77%, as in 2015 they represented a value of 1 billion US dollars, and are expected to reach 1.9 billion US dollars by the end of 2024, according to Al-Obaidi.

    The greatest growth was in China's iron and steel exports, as the growth rate reached 280% compared to 2015, when the value of China's iron exports to Iraq amounted to 131 million US dollars and is expected to reach 500 million US dollars by the end of 2024.
     
    Exports also increased[You must be registered and logged in to see this link.]Of the materials made of rubber, specifically tires, by 195%, the value of exports was[You must be registered and logged in to see this link.]In 2015, it amounted to 151 million dollars, while it is expected to reach 446 million dollars at the end of 2024.

    This increase is due - according to Al-Obaidi - to a number of reasons, namely:
    1- High demand for various goods as a result of increasing population growth and the expansion of construction in various Iraqi cities.
    2- Many Chinese goods were not shipped directly from[You must be registered and logged in to see this link.]But from other countries and it is now exported directly from[You must be registered and logged in to see this link.].
    3- Re-exporting many of the goods exported to[You must be registered and logged in to see this link.]To other countries and use them in the barter system with those countries, especially countries with which banking is prohibited.
    4- Change in the consumption pattern of the Iraqi consumer.
    5- Direct Chinese investments by Chinese companies in various sectors, which contributed to limiting imports of some goods, such as iron and steel, from the Chinese side.
    6- The Chinese side entered into competition with some goods in which it did not have large market shares, such as cars and telephones.
    7- Global inflation rates that led to a rise in global commodity prices.


    Al-Obaidi adds that according to these growth rates, the volume of exports is expected to reach[You must be registered and logged in to see this link.]from[You must be registered and logged in to see this link.]By the end of 2030 alone, it will amount to approximately 20 billion US dollars. This significant increase in imports will reach...[You must be registered and logged in to see this link.]To the point of being unable to cover all this increasing demand for foreign currency, especially if we note the stability of exports.[You must be registered and logged in to see this link.]From oil to[You must be registered and logged in to see this link.]With daily rates amounting to only 1.1 million barrels over the past five years, and the uncertainty of the continuation of oil prices at current rates, it is possible that the trade balance will shift from a positive balance to a favorable one.[You must be registered and logged in to see this link.]To a positive balance in favor[You must be registered and logged in to see this link.]in the next years.

    According to Al-Obaidi, it is necessary to activate trade exchange mechanisms with...[You must be registered and logged in to see this link.]Through it, reliance is placed on creating a reserve fund in which a portion of the funds from Iraqi oil sales will be placed[You must be registered and logged in to see this link.]It is used to cover imports from[You must be registered and logged in to see this link.]Instead of the complex mechanism that is happening now, it is also necessary to work on analyzing these imports and trying to reduce part of them by transferring part of the manufacturing or assembly to the country.[You must be registered and logged in to see this link.]To reduce the added value that Chinese factories place on their products and thus reduce the import value from[You must be registered and logged in to see this link.]Specifically in the most important commodities such as mechanical and electrical devices, tires, etc.
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