mniraq - Trade data revealed a notable widening of the trade balance gap between Iraq and Jordan during the first eight months of the current year, recording a significant increase in Jordanian exports to the Iraqi market alongside a sharp decline in Iraqi exports to the kingdom.
The data showed a marked rise in Jordanian exports to Iraq, while Iraqi exports witnessed a clear drop, leading to the trade deficit surging to record levels exceeding one billion dollars, and a decline in the coverage ratio of Iraqi exports to imports to minimal levels.
Economic experts pointed out that the bilateral trade agreement and existing exemptions granted Jordanian products a competitive edge in the Iraqi market amid the weak productive and export base of non-oil sectors in Iraq, calling for the necessity of reviewing trade frameworks, activating mechanisms to stimulate national exports, and enhancing local production content to achieve sustainable balance.
