Sunday, December 31, 2023
TURKSTAT: Turkey's Exports to Iraq Surge, making it the third top importer in November, 31 DEC
TURKSTAT: Turkey's Exports to Iraq Surge, making it the third top importer in November
Shafaq News/ Turkish Statistical Institute (TURKSTAT) reported that Iraq secured the third position among countries importing the most from Turkey in November.
According to the report, exports climbed by 5.2% compared to the same month in 2022, totaling $22.999 billion, while imports decreased by 5.7% compared to 2022, reaching $28.916 billion.
The report said that Germany topped the list with 1.750 billion dollars, the UAE came up at $1.365 billion next after them (second place), the United States ranked fourth with $1.262, and Italy scored fifth with a total imports of $1.103 million.
"RV UPDATE" BY GOLDILOCKS, 31 DEC
"Iraq Stock Market Report · ISC approved the listing and trading of reconstruction bonds which was issued on 10/10/2023 by the Ministry of Finance, ..."
Reconstruction Bonds will raise Capital funds for the country of Iraq and insure liquidity for the banking system, merchants, and the people as they continue to build and grow their economy.Reconstruction bonds are considered the Secondary Market where currency trades take place. These new listings on the Iraqi Stock Market will go to help improve the infrastructure of Iraq and strengthen its economy locally and abroad.
Iraq is rapidly becoming a self-sustaining economy capable of reaching out to the International Markets once again. Their new digitized shipping ports will bring in revenue as well as expand the use of their currency going forward.
© Goldilocks
MENA FN Link
American Legal Code Library Link
An economist criticizes the step to export Iranian goods to Iraq in riyals: It has question marks
An economist criticizes the step to export Iranian goods to Iraq in riyals: It has question marks
On Saturday, December 30, 2023, economic expert Nabil criticized the decision to export Iranian goods to Iraq in Iranian riyals.
“He said, “This will raise a significant doubt about how Iraqi traders can purchase Iranian currency. It requires either the US dollar or the Iraqi dollar, which will be returned to Iraq for exchanging it with the dollar. However, since the Iraqi exports to Iran are very low, the volume of Iraqi dinar is quite limited”.”
The Governor of the Central Bank of Iran, Mohammad Reza Farzin, confirmed that Iran will now settle its exports abroad in the national currency, the riyal.
Muhammad Reza Farzin, on the sidelines of the Government and Private Sector Council meeting in Khorasan Razavi Province (northeast), stated that the Central Bank has been studying the possibility of settling Iranian exports through the riyal currency outside the country for several months. If implemented, this move will cater to the needs of exporters to Iraq and Afghanistan.
He said, “The export of goods to Afghanistan is one of the demands of Mashhad’s merchants. By implementing the ‘riyal offshore’ project, merchants will be able to benefit from it by using riyals outside the borders instead of foreign currency.”
"RV UPDATE" BY GOLDILOCKS, 31 DEC
Good Evening,
The articles below go into great detail about aspects of Maritime Shipping Industry routes that have been broken for some time.
Several are currently being built and rebuilt and will be stronger than ever as shipping routes from the East to the West are being reset. For example, Iraq has a new shipping port that will take away some of the pressures of some ports across the world.
We have talked about several routes these past few years that are being created to carry cargo ships filled with goods to areas of the world forging new pathways into the future and into the new digital economy.
These new passageways will create less of a bottleneck and more of an even flow in the movement of goods across the world as well as a Level Playing Field monetarily.
Look for new price pressures to form because of these changes along with exchange rates to meet the needs of our new Global Economy.
As more and more countries begin to trade with their own local currencies, new price patterns will come with new demands on them.
New contracts and payment agreements are already being signed across the world as we speak. In 2024, many of these new changes will go into effect.
Watch the water.
© Goldilocks
Chem Analyst Link
Economic Times India Link
Hellenic Shipping News Link
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...