Iran traded 27.03 million tons of goods worth $16.87 billion, excluding crude oil exports, with its 15 neighboring countries during the first four months of the current Iranian year (March 21-July 22), registering an 18% rise in value compared to the corresponding period of last year, according to Rouhollah Latifi, the spokesperson of the Islamic Republic of Iran Customs Administration.
All changes cited below are in value.
Exports hit 20.71 million tons worth $8.87 billion to register a 22% rise year over year.
Iraq was the biggest destination for Iranian exports during the period with 6.9 million tons of imports worth $2.4 billion, registering 15% YOY decline.
Following were the UAE with 4 million tons worth $2.3 billion (up 39%), Turkey with 3.4 million tons worth $2 billion (up 123%), Afghanistan with 938,000 worth $497 million (down 32%), Oman with 1.1 million tons worth $415 million (up 135%), Pakistan with 855,000 tons worth $377 million (up 10%), Russia with 427,000 tons worth $232 million (up 25%), Azerbaijan with 250,500 tons worth $232 million (up 78%), Turkmenistan with 439,000 tons worth $132 million (up 37%), Armenia with 279,000 tons worth $113.4 million (up 36%), Kuwait with 1.66 million tons worth $58 million (up 35%), Kazakhstan with 207,000 tons worth $49.4 million (down 7%), Qatar with 287,000 tons worth $40 million (down 12%), Bahrain with 3,840 tons worth $3 million (up 43%), and Saudi Arabia with 121 tons worth $15,688 (down 52%), IRNA reported.
Imports stood at 6.32 million tons worth $8.14 billion during the same period, registering a 13% increase compared with the corresponding period of last year, the official added.
The UAE, with 3.6 million worth $4.9 billion was the biggest exporter to Iran, registering a 4% YOY rise, followed by Turkey with 983,000 tons worth $1.8 billion (up 18%), Russia with 930,000 tons worth $599 million (up 39%), Pakistan with 300,000 tons worth $324.5 million (up 298%), Oman with 262,000 tons worth $323.3 million (up 32%), Kazakhstan with 173,000 tons worth $76.2 million (up 167%), Iraq with 39,000 tons worth $54.7 million (down 61%), Qatar with 702 tons worth $13.8 million (up 208%), Azerbaijan with 8,600 tons worth $13.5 million (up 25%), Turkmenistan with 18,200 tons worth $10,6 million (down 23%), Afghanistan with 6,400 tons worth $7.32 million (up 135%), Kuwait with 1,300 tons worth $3 million (down 26%), Armenia with 1,500 tons worth $2.8 million (down 71%), and Bahrain with 28 tons worth $513,000 (up 8%).”
The above figures on exports and imports show Iran registered $871.59 million in trade surplus with its neighbors during the four months to July 22.
Neighbors Account for Around Half of Iran’s World Trade
Excluding crude oil exports, Iran traded a total of 46.82 million tons of goods worth $34.48 billion with world countries during the same period under review, IRICA reported earlier.
This indicates that neighbors accounted for over 57% of Iran’s total trade in tonnage and 48% in value during the period.
IRICA said the traded goods saw 19% year-on-year growth without specifying whether the rise was registered for tonnage or value of trade.
Exports to world countries stood at 35.66 million tons worth $17.24 billion, registering a 22% YOY rise.
They mainly included oil products, petrochemicals and gas including liquid propane, methanol, LNG, liquid butane, polyethylene, petroleum bitumen, light petroleum oils as well as iron and steel ingots and urea.
China with 10.06 million tons worth $5.62 billion was the biggest export destination. It was followed by Iraq with 6.93 million tons worth $2.4 billion, the UAE with 3.95 million tons worth $2.26 billion, Turkey with 3.36 million tons worth $2.06 billion and India with 1.33 million tons worth $567 million.
Imports stood at 11.16 million tons worth 17.24 billion, registering 17% year-on-year growth in terms of value.
The imports mainly included wheat, rice, cell phones, corn, soybean and soybean meal, sunflower oil, unrefined sugar,, tractors and coke.
The UAE with 3.6 million tons worth $4.88 billion was the biggest exporter to Iran during the period.
It was followed by China with 1.19 million tons worth $4.42 billion, Turkey with 983,000 tons worth $1.79 billion, India with 528,000 worth $859 million and Russia with 930,000 tons worth $599 million.
Neighborly Trade in Review
Iran traded 100.13 million tons of goods worth $51.87 billion with its 15 neighboring countries during the last Iranian year (March 2021- 22), according to Alireza Moqaddasi, the head of the Islamic Republic of Iran Customs Administration.
The tonnage and value of trade registered 23% and 43% rises respectively compared to the preceding year.
Iran’s exports stood at 75.44 million tons worth $26.03 billion, registering 12% and 29% increases in weight and value respectively compared with the year before, IRNA reported.
Iraq with $8.9 billion (up 21% YOY) topped the list of export destinations. It was followed by Turkey with $6.1 billion (up 141% YOY), the UAE with $4.9 billion (down 8% YOY), Afghanistan with $1.8 billion (down 20% YOY) and Pakistan with $1.3 billion (up 24% YOY) were the country’s top five export destinations followed by Oman with $716 million (up 63% YOY), Russia with $579 million (up 15% YOY), Azerbaijan Republic with $565 million (up 11% YOY), Turkmenistan with $335 million (up 144% YOY), Armenia with $304 million (no significant YOY change), Kazakhstan with $187 million (up 11%YOY), Kuwait with $158 million (up 2% YOY), Qatar with $134 million (down 20% YOY), Bahrain with $10 million (up 15% YOY), and Saudi Arabia with around $41,400.
As for imports, Iran shipped in 24.68 million tons of products worth over $25.84 billion from its neighbors during the same period, indicating 68% and 60% growth in tonnage and value respectively compared with the year before.
The UAE was the top exporter to Iran with $16.5 billion (up 69% YOY). It was followed by Turkey with $5.3 billion (up 20% YOY), Russia with $1.7 billion (up 54% YOY), Iraq with $1.2 billion (up a whopping 790% YOY) and Oman with $619 million (up 43% YOY), followed by Pakistan with $312 million, Kazakhstan with $78 million, Azerbaijan Republic with $42.6 million, Turkmenistan with $33.3 million, Afghanistan with $21.1 million, Armenia with $20.2 million, Kuwait with $14.8 million, Qatar with $9.6 million and Bahrain with $1.5 million.
Trade with neighbors stood at $36.45 billion in fiscal 2020-21, down from $40 billion in the preceding year. Iran’s exports totaled $20.35 billion in March 2021-22 fiscal year, indicating about $4 billion decrease in value year-on-year. Imports were at $16.09 billion, unchanged compared with the previous year.
Iran’s total foreign trade excluding crude oil exports stood at 162 million tons worth $100 billion in fiscal 2021-22, registering a 38% rise in value compared with the year before.
“Exports stood at 122 million tons worth $48 billion, registering a 41% increase in value compared with the previous year. Iran’s top five export destinations were China, Iraq, Turkey, the UAE and Afghanistan,” Moqaddasi was quoted as saying.
Imports hit 40 million tons worth $52 billion during the same period, registering 21% and 36% growth in weight and value respectively.
The UAE, China, Turkey, Germany and Russia were the main exporters.
“The imports mainly included essential goods, raw materials and production line machinery.”
Also known as necessity or basic goods, essential goods are products consumers will buy, regardless of changes in income levels.
Iran’s basic imports in fiscal 2021-22 included corn, unrefined vegetable oil, pharmaceuticals and medical equipment, wheat, oilseeds, soybean meal, barley, rice, sugar, heavy vehicle tires, chemical fertilizer, pesticide and insecticide, veterinarian medicine, red meat, chicken, eggs, pulses and tea.
