Iraqi exports decline by 15.7% in the first quarter of this year

Iraqi exports decline by 15.7 percent in the first quarter of this yearShafaq News/ The Central Bank of Iraq announced, on Monday, that Iraqi exports declined by 15.7% during the first quarter of this year.

The bank said in a report received by Shafaq News Agency, “Iraq’s commodity exports declined by 15.7% during the first quarter of this year to reach 23 billion and 474 million dollars, compared to 27 billion and 847 million dollars for the fourth quarter of last year.”

He added that “Iraqi oil exports constituted 96.7% of total commodity exports for the first quarter of this year, recording a decline of 16.4% compared to the last quarter of the previous year. This decline is attributed to a 10.7% decline in oil prices.”

He pointed out that “exports of petroleum products, including naphtha, diesel and other products, constituted 2.7% of total exports in the first quarter of this year.”

The bank indicated that “other commodity exports constituted a small percentage of 0.6% of total commodity exports, the largest portion of which focused on industrial equipment and some primary foods and beverages intended for family consumption.”

Shafaq.com