According to a report released by the foundation today, Indian exports to Iraq accounted for approximately 1% of the country's total exports in general, compared to a mere 0.5% in the previous year.
The report further highlighted that this remarkable surge was primarily attributed to an increase in fuel imports, particularly gasoline, which witnessed a substantial rise of 68%. It was followed by rice with a surge of 90%, sugar with a growth of 40%, and red meat with a notable increase of 15%. These four commodities collectively constituted 73% of Iraq's imports from India.
Furthermore, the annual volume of Iraq's imports from India amounts to around $2.6 billion, and it is anticipated to surpass the $4 billion mark this year, contingent upon the continuous importation of gasoline (benzene), as stated in the foundation's report.