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$11 billion.. The value of Chinese exports to Iraq
Economic 10/21/2024
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Data from the Chinese Customs Authority showed that the value of exports to Iraq increased by 12 percent during the nine months of 2024, compared to the same period in 2023.
The value of Chinese direct exports to Iraq amounted to 11.9 billion US dollars, after it was valued at 10.6 billion US dollars during the same period in 2023.
The increase came as a result of the increase in exports of a group of basic commodities, represented by the increase in the value of exported electrical appliances (of which refrigeration devices constitute the largest part) by 16 percent to reach 2.48 billion US dollars compared to 2.1 billion US dollars for the same period in 2023. The value of electrical appliances exports represents 21 percent of the total Chinese goods exported to Iraq, as well as the increase in the value of exported electronic devices (of which mobile phones and accessories constitute the largest part) by 33 percent to reach the value of exports 1.64 billion dollars compared to 1.24 billion dollars in the same period in 2023, and the value of electronic devices exports represents 14 percent of the total Chinese goods exports to Iraq.
In addition, Chinese car exports increased by 44 percent, rising from $509 million in 2023 to $732 million in 2024, and Chinese car exports represent 6 percent of total Chinese goods exports to Iraq.
The value of clothing exports also increased by 16 percent, rising from $873 million to $1 billion in 2024, and clothing exports represent 8.5 percent of China's total goods exports to Iraq.
The value of Chinese exports of iron ore products fell by 25 percent, as well as toys, which fell by 15 percent, and exports of building materials, which fell by 10 percent.
The Chinese Customs Authority expected that the value of exports to Iraq would reach about 16 billion US dollars by the end of 2024.
In contrast, Iraq exported goods to China (the bulk of which was crude oil) worth $29.5 billion, up 11.7 percent from the same period in 2023, which amounted to $26.4 billion in the same period in 2023.
Thus, the volume of direct trade exchange between Iraq and China, during the first nine months of the year, amounted to 41.4 billion US dollars, an increase of 12 percent over the same period in 2023, which was 37 billion US dollars.
The volume of trade exchange between Iraq and China is expected to reach around 55 billion US dollars by the end of 2024. However, if Chinese goods indirectly exported to Iraq are added, the volume of trade exchange between Iraq and China may exceed the 65 billion dollar barrier, making China Iraq's largest trading partner.
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