Iran traded 969,980 tons of non-oil commodities worth $862.75 million with the Americas during the first 10 months of the current fiscal year (March 21, 2018-Jan. 20) to register a 7.98% and 29.78% decrease in tonnage and value respectively compared with last year’s corresponding period.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 77,179 tons worth $100.62 million during the period, indicating a 56.42% and 43.78% decline in tonnage and value respectively year-on-year.
Imports stood at 892,800 tons worth $762.13 million, up 1.8% in tonnage and down 27.39% in value YOY.
The Americas are the landmasses of North America and South America, at times collectively considered a single continent. It makes up most of the land on the Earth's western hemisphere and comprises the New World. There are 35 sovereign states in the Americas.
Main Commodities, Trading Partners
Iran mainly exported floorings, non-alloy semi-finished iron/steel products, copper, carpets and pistachios to the countries in the Americas.
In exchange, major commodities imported into Iran from the Americas included boneless frozen cow parts, oilcake, cooking bananas, soybean and soybean oil.
In terms of total trade value, Brazil topped the list of regional countries by trading 487,607 tons worth $390.18 million with Iran, up by 86.75% in tonnage and down 25.85% in value YOY.
Exports to Brazil amounted to 38,456 tons worth $16.95 million to register an 802.75% and 66.71% growth in tonnage and value respectively YOY.
The largest country in both South America and Latin America was Iran’s third export destination among the countries under review and 59th in the world.
In return, Brazil exported 449,150 tons of commodities worth $373.22 million to Iran, up by 74.87% in tonnage and down 27.67% in value YOY.
Brazil was the top exporter of goods to Iran among countries in the Americas and 17th in the world.
Major Iranian commodities exported to Brazil were non-alloy semi-finished iron/steel products, float glass, floorings and grapes.
Brazil mainly exported boneless frozen cow parts, tractor parts, soybean and field corn to Iran.
The US was Iran’s second biggest trading partner in the Americas during the 10 months, as two-way commercial exchanges stood at 65,912 tons worth $160.79 million to register a 106.66% increase in tonnage and a 34.1% decline in value YOY.
Iran exported 1,495 tons of goods worth $45.14 million to the US, down by 42.73% and 56.52% in tonnage and value respectively YOY.
The US was Iran’s top export destination in the Americas and 39th in the world during the period.
Iran’s exports to the US included floorings, carpets, Gabbeh (a hand-woven pile rug of coarse quality) and saffron.
Iran imported 64,417 tons of commodities worth $115.66 million from the US, up 120.15% in tonnage and down 17.54% in value YOY, a majority of which were soybean, dietary supplements, medicine and wood pulp.
The US was the second exporter of goods to Iran among the countries under review and 29th exporter to Iran in the world.
Uruguay was Iran’s third major trading partner among the states.
Mutual trade between Iran and Uruguay amounted to 249,171 tons worth $107.93 million, indicating a 28.01% and 18.62% decrease in tonnage and value respectively YOY.
Brazil was the biggest exporter to Iran and the US was the biggest destination for Iranian non-oil products during the period
Iran’s exports reached 2,465 tons worth $70,991, down 73.51% and 32.45% in tonnage and value respectively YOY, while Uruguay’s exports to Iran were at 249,168 tons worth $107.86 million, down by 28% and 18.61% in tonnage and value respectively YOY.
Uruguay was Iran’s 12th export destination as well as the third exporter of goods to Iran in the Americas. Moreover, the country was the 32nd exporter to Iran in the world.
Floorings and carpets were Iran’s main goods exported to Uruguay, while Uruguay exported oilcake, butter, roving appliances and shampoo.
Canada was Iran’s second export destination among the nations and 46th in the world, as Canada exported 32,741 tons worth $29.48 million to Iran during the 10-month period, up by 300.37% and 16.03% in tonnage and value respectively YOY.
Iran mainly exported copper, floorings, pistachios, dates and saffron to Canada.
Highest Growths, Declines in Trade
Trade with Bolivia (at $2.36 million) and Venezuela (at $358,055) saw the highest YOY growth of 593.84% and 3.61% respectively, while trade with Panama (at $6,250), Costa Rica (at $76,884) and Mexico (at $5.26 million) witnessed the lowest decline of 99.16%, 88.81% and 85% respectively.
Iran’s exports to Bolivia (at $2.36 million), Ecuador (at $184,288) and Brazil (at $16.95 million) saw the highest growth of 593.84%, 321.23% and 66.61% respectively, while exports to Argentina (at $106,070), Mexico (at $4.32 million) and Peru (at $51,190) witnessed the highest decline of 89.64%, 87.26% and 87.01% respectively.
Imports from Guatemala (at $139,911) saw the highest growth of 12.36%, while imports from Costa Rica (at $76,884), Paraguay (at $8.75 million) and Argentina (at $30.64 million) witnessed the highest decline of 88.58%, 62.81% and 57.12% respectively.
