Volume of land trade exchange between Saudi and Iraq during first half of 2023 reaches over $240mln

Volume of land trade exchange between Saudi and Iraq during first half of 2023 reaches over $240mln

Arar: The new Arar border crossing in the Northern Border Region is one of the commercial traffic gates between the Kingdom of Saudi Arabia and the Republic of Iraq during the past two years, as the volume of trade exchange during the first half of 2023 reached about SAR 913.1 million.

According to a study conducted by the Chamber of Commerce and Industry in the Northern Border Region on the commercial movement between the Kingdom and Iraq, it indicated that the trade movement grew during March to about SAR 381 million in the first quarter of the current year 2023, after it was about SAR 305 million in January.

Additionally, the study mentioned that the Kingdom's exports to Iraq amounted to about SAR 372.4 million in March, after it was about SAR 294 million in January, while the Kingdom's imports from Iraq declined from SAR 11.5 million in January to about SAR 8.6 million in March.