Liquidity And Balance Of Payments In Iraq Declined Over The Past Three Months.
Money and Business Economy News – Baghdad The Ministry of Planning announced on Wednesday the economic indicators for the country for the first quarter of 2025.
The Central Statistical Organization of the Ministry stated in a report seen by “Al-Eqtisad News” that the most important indicators for the first quarter of 2025 indicate a decrease in merchandise imports compared to exports, which led to a decrease in the net balance of payments to reach 5.9 trillion dinars.
He added that there has been a decrease in public deposits with banks, which has led to a decline in cash liquidity, noting that total bank credit amounted to 71.3 trillion dinars.
He pointed out that the amount of electricity produced in the first quarter of 2025 amounted to 33,142,433 megawatt-hours, while the amount of imported energy amounted to 1,673,496 megawatt-hours.
The unit “megawatt-hour” means the amount of power generated or imported during the actual operating hours of the national electricity grid. https://economy-news.net/content.php?id=61721
Customs Revenues Exceed 2.15 Trillion Dinars.
Money and Business Economy News – Baghdad The Customs Authority has achieved revenues exceeding two trillion and one hundred and fifty billion dinars since the beginning of this year, with expectations that they will reach about 2.5 trillion dinars by the end of the year, according to what was confirmed by the Director General of the Authority, Thamer Qasim Al-Tai.
Al-Ta’i explained in an interview with Al-Sabah, which was followed by Al-Eqtisad News, that this large increase came as a result of adopting modern electronic systems that contributed to doubling the value of imports and improving customs work mechanisms, noting that revenues increased from one trillion dinars in 2023 to more than two trillion dinars this year, and that the complete digital transformation is the main reason for this progress.
Al-Ta’i explained that the revenues achieved will support the state budget within the government’s direction to maximize non-oil resources and support the national economy by revitalizing revenue sectors, in line with the government’s program to achieve accelerated economic and investment growth.
He pointed out that the Authority has begun amending the Customs Law, which dates back to the 1980s, to introduce the concepts of electronic work, digital declaration, and simplification of customs procedures, in order to keep pace with global technological development and contribute to facilitating trade.
Al-Ta’i said that among the most prominent steps of the electronic transformation is the adoption of the “single window” system, which links the government agencies concerned with import and export operations, in addition to the application of the global “ASYCUDA” system to facilitate procedures, reduce time and effort, and reduce corruption rates.
He stressed that the Prime Minister’s interest in the ports and customs file contributed to accelerating the steps of digital transformation and enhancing the Authority’s position as one of the most important sources of non-oil revenues, noting that full automation will reflect positively on the national economy by encouraging investment, raising performance efficiency and reducing operational costs.
In conclusion, Al-Ta’i stressed that the Authority is continuing to develop its legal and technical structure, in order to ensure transparency and smoothness in procedures and enhance the confidence of the commercial and industrial sectors in state institutions. https://economy-news.net/content.php?id=61717
The Dollar Continues To Rise In Baghdad
Economy | 11:35 – 29/10/2025 Mawazin News – Baghdad: The exchange rate of the US dollar rose in Baghdad’s local markets. The dollar reached 141,150 Iraqi dinars per 100 US dollars in the Al-Kifah and Al-Harithiya exchanges.
Meanwhile, the selling price remained stable in Baghdad’s local currency exchange markets, at 142,000 Iraqi dinars per 100 US dollars, while the buying price was 140,000 Iraqi dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=269318
Oil Prices Rise Due To Declining US Inventories
Economy | 09:06 – 29/10/2025 Mawazin News – Oil prices saw a slight increase after a three-day decline, amid reports of a drop in US crude inventories, which bolstered prices in global markets.
Brent crude futures rose 20 cents, or 0.31%, to $64.60 a barrel at 02:03 GMT. US West Texas Intermediate crude futures also climbed 18 cents, or 0.3%, to $60.33 a barrel.
Despite this rise, investors remain concerned about the impact of potential sanctions on Russia, along with expectations of increased production from the OPEC+ alliance, which could limit further gains. https://www.mawazin.net/Details.aspx?jimare=269306
Gold Prices Are Rising Again In Baghdad.
Economy | 29/10/2025 Mawazin News – Baghdad: Gold prices, both foreign and Iraqi, have risen in local markets in Baghdad. In the wholesale markets of Al-Nahr Street in Baghdad, the selling price of one mithqal (approximately 4.5 grams) of 21-karat gold (Gulf, Turkish, and European)
reached 793,000 Iraqi dinars, while the buying price was 789,000 dinars. The selling price of one mithqal of 21-karat Iraqi gold was 763,000 dinars, and the buying price was 759,000 dinars.
As for retail prices at goldsmith shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 795,000 and 805,000 dinars, and the selling price of one mithqal of Iraqi gold ranged between 765,000 and 775,000 dinars.
https://www.mawazin.net/Details.aspx?jimare=269319
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