Iraq Is The Second Largest Importer Of Jordanian Industries, With A Value Of 309 Million Dinars.
Money and Business Economy News – Baghdad Iraq came in second place as the most prominent countries importing Jordanian industrial exports during the first third of 2026.
Data showed that the Chamber’s total exports amounted to approximately 2.476 billion dinars during the period mentioned, achieving a growth rate of 9.2% compared to the same period in 2025.
India came in first place as the largest importer of Jordanian exports with a value of 336 million dinars, while Iraq came in second with a value of 309 million dinars, recording a growth rate of 1.6% compared to last year.
The United States came in third with a value of 288 million dinars, despite a decline of 28%, followed by Saudi Arabia in fourth place with a value of 284 million dinars and a growth rate of 3.8%. https://www.economy-news.net/content.php?id=68851
Significant Progress Has Been Made In The Nasiriyah International Airport Project; The Main Runway Is Now 100% Complete.
Money and Business Economy News – Baghdad The Nasiriyah International Airport project is witnessing remarkable progress in most work sites, with many sections reaching near-final completion rates, within the stages of implementing the airport’s infrastructure and services.
The representative of the Resident Engineer’s Department, Engineer Hadi Nayef, told the official agency that “the Nasiriyah Airport project consists of three main sections. The first includes external roads with a length of 25 kilometers, the second includes service buildings for passengers and infrastructure with a number of 26 buildings, while the third section includes the main runway with a length of 3400 meters with the taxiway.”
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He added that “the main runway has been fully completed at 100% in terms of paving, lighting and inspection works,” explaining that “the arrivals building has an area of 22,000 square meters and includes modern systems, including a cooling system and an early fire detection system, in addition to AI-powered cameras capable of detecting fires and forgotten bags and directing the concerned authorities to their locations.”
He pointed out that “the infrastructure works have reached a completion rate of 98% and include rain, sewage, lighting and electricity networks,” noting that “work is continuing on the implementation of internal roads linking the buildings with a length of up to 5.5 kilometers according to the highest approved technical specifications.”
For her part, the representative of the Quality Department, Engineer Malath Malik, explained that “the Quality Department is responsible for preparing daily reports on site inspection work in coordination with the consulting firm, as well as monitoring the materials entering the project.”
She emphasized that “the materials used are subject to a series of internationally approved tests in two stages, starting with test reports issued by the manufacturers, and then, after entering Iraq, they are subject to inspections and tests under the supervision of the consulting body before approval for their use on site.” https://www.economy-news.net/content.php?id=68843
Iraq Will Export 600,000 Tons Of Dates During 2025
Money and Business Economy News – Baghdad The Ministry of Agriculture confirmed on Friday that date exports exceeded 600,000 tons in 2025. The Undersecretary of the Ministry of Agriculture, Mahdi Suhr Al-Jubouri, said that “the palm and date sector in Iraq is one of the important agricultural sectors economically, due to its competitive advantages in global markets,” noting that “the Zahdi variety is the most abundant in production and has the highest quantities of dates exported abroad, in addition to other varieties of dates, which exceed 600 varieties of dates locally.”
He added that “the Zahdi variety is the first variety for many date processing industries in Iraq, such as the production of date syrup, sweets and date paste, which constitute added economic value,” indicating that “the palm and date sector in Iraq has witnessed great interest from the Ministry of Agriculture and other sectoral bodies, especially after the introduction of tissue culture techniques, and also the continuation of ground and aerial control to combat Dubas insects and the red weevil.”
Sahar continued, “As a result of this interest and expansion in orchard cultivation using modern irrigation and drip irrigation methods, which resulted in an increase in the number of palm trees to more than 22 million, exports in 2025 rose to 600,000 tons of dates, in addition to the export of more than 100,000 tons of date paste, which together provide hard currency for the country and an internal source for orchard owners.” https://www.economy-news.net/content.php?id=68836
Baghdad Municipality: Al-Hussein Bridge Will Be Completed Within 375 Days And To High Standards.
Money and Business Economy News – Baghdad The Baghdad Municipality announced on Friday the commencement of construction work on the Al-Hussein neighborhood overpass, aimed at addressing traffic congestion. It confirmed that the overpass will be completed within 375 days and to high standards.
Baghdad Municipality spokesman Uday Al-Jundail said that “the executive work for the construction of the Al-Hussein neighborhood overpass has begun as part of the Baghdad Municipality’s plans to address traffic congestion and alleviate bottlenecks in vital areas of the capital, including important intersections on the Salah Al-Din Expressway,” indicating that “the project will contribute significantly to ending traffic jams and achieving high traffic flow after its completion.”
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He added that “the project’s implementation period is 375 days, with the possibility of completing it before the specified period according to the work rates, the planned program, and sound specifications.”
He pointed out that “the implementing company is one of the reputable local companies, and has similar projects in a number of governorates,” stressing that “the work is proceeding according to the plans set to complete the project as quickly as required.”https://www.economy-news.net/content.php?id=68811
Iraq Under Pressure In The Strait Of Hormuz: Huge Oil Losses And Unprecedented Discounts To Save Exports
Economy News – Baghdad Iraq is facing one of the most serious economic challenges in its modern history since the outbreak of the regional war and the closure of the Strait of Hormuz, the maritime outlet through which the vast majority of its oil exports pass.
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The country, whose economy depends almost entirely on oil revenues, has found itself facing a sharp decline in exports, prompting SOMO (State Oil Marketing Organization) to adopt an exceptional pricing policy that includes significant discounts to attract buyers and encourage the continued flow of Iraqi oil to global markets.
Gulf Exports Collapse
According to data reported by Bloomberg, Iraqi oil sales have fallen by more than 80% in the past two months, as many tankers have been unable to pass through the Strait of Hormuz, which has become a high-risk area due to military escalation.
In a clear indication of the scale of the crisis, only two tankers loaded oil from the port of Basra during April, compared to 12 tankers in March, even though the port has an operational capacity of about 80 tankers per month under normal circumstances.
Iraqi oil exports also fell in March by about 97% compared to the previous month, averaging only 99,000 barrels per day, according to ship tracking data.
Standard Discounts To Attract Buyers
In an attempt to reduce the effects of the crisis, SOMO introduced unprecedented price reductions on Basra Medium crude, reaching $33.40 per barrel during the first ten days of May 2026, before dropping to $26 for the rest of the month, while the discount on Basra Heavy crude reached about $30 per barrel.
The company bases its pricing of Basra Medium crude on the average prices of Dubai and Oman crudes for shipments to Asia, and on Argus high-sulfur crude for shipments to the Americas.
Last April, Iraq raised the official selling price of Basra Medium crude to Asia to a premium of $17.30 above the average price of Oman and Dubai crudes, compared to a premium of only $0.30 in the previous April. It also set a premium of $10.30 above Argus crude for shipments to the Americas.
“The Port Is Up For Sale”: A Mechanism To Overcome Risks
SOMO General Manager Ali Nizar Al-Shatri explained that the company resorted to adopting the “port-off sale” method, meaning that the company’s responsibility ends as soon as the oil is loaded onto the tanker, while the buyer bears the costs of maritime transport, insurance and transit risks.
Al-Shatri confirmed that “SOMO” did not actually change the officially announced price premiums, but the difference in the method of sale and the discounting of transportation and insurance costs is what gives buyers the possibility of obtaining oil at lower prices.
He explained that this method is currently limited to Basra oil due to the risks of sailing in the Strait of Hormuz, while Kirkuk crude maintains its price premium because it is exported via the Turkish port of Ceyhan on the Mediterranean Sea, far from the maritime threats in the Gulf.
Billions Of Dollars In Losses
Energy expert Kovand Sherwani described the repercussions of the crisis as a “huge economic blow,” stressing that Iraq has lost daily exports estimated at about 3.3 million barrels of crude oil, which used to generate revenues of no less than $260 million per day.
Shirwani told Al-Eqtisad News that the total revenue losses during one month may approach $7 billion, with the possibility of the figure rising as a result of the rise in global oil prices following the closure of the Strait of Hormuz.
He explained that the discounts offered by SOMO aim to encourage companies and traders to buy Iraqi oil and bear the risks of transportation, adding that some companies that have good relations with the Iranian side may be able to pass through the oil shipments and make large profits from the price differences.
He pointed out that Iraq faces a structural problem in the absence of a large national fleet of oil tankers, as the majority of exports depended on chartered tankers or direct sales in Iraqi ports.
Limited Alternatives And Narrow Options
Although Iraq continues to export some of its oil via the pipeline to Türkiye, the quantities remain limited compared to the usual export capacity via the Gulf.
Shirwani explained that the Ceyhan port pipeline currently transports only about 250,000 barrels per day, which is equivalent to about 7% of Iraq’s previous total exports.
Observers confirm that Iraq currently lacks genuine strategic alternatives to bypass the Strait of Hormuz, making it one of the countries most affected by any security disturbance in the Gulf.
Discounts Are Not A Global First
For his part, economist Nabil Al-Marsoumi explained that the current price reductions are temporary measures pertaining to May 2026, and aim to maintain a minimum flow of oil exports.
Al-Marsoumi pointed out that the policy of discounts is not new in global energy markets, as Iran, Russia and Venezuela have previously used it to mitigate the impact of sanctions or restrictions that have hindered their oil from reaching global markets.
He added that Iraq was forced to offer discounts of up to $33.4 per barrel on Basra Medium crude to buyers with long-term contracts, especially those using tankers that have to cross the Strait of Hormuz, in order to offset the high transport and insurance risks.
A Crisis That Reveals The Fragility Of The Export Structure
The current crisis reveals the extent of Iraq’s almost complete dependence on a single sea outlet for oil exports, in the absence of an alternative network of pipelines or a national maritime transport fleet.
Experts believe that a prolonged closure of the Strait of Hormuz could put unprecedented pressure on Iraqi finances, especially given the general budget’s heavy reliance on oil revenues.
While SOMO is trying to maintain the presence of Iraqi oil in global markets through discounts and trade facilities, the future of exports remains dependent on developments in the security situation in the Gulf, and the extent to which Baghdad can find alternative export outlets that reduce its vulnerability to the Strait of Hormuz.
العراق تحت ضغط هرمز.. خسائر نفطية ضخمة وخصومات غير مسبوقة لإنقاذ الصادرات
