Iran traded 151,915 tons of non-oil commodities worth $158.23 million with countries in the Balkan region during the first 10 months of the current fiscal year (March 21, 2018-Jan. 20) to register a 21.24% and 19.02% increase 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 133,980 tons worth $110.57 million during the period, indicating a 75.42% and 36.19% increase in tonnage and value respectively year-on-year.
Imports stood at 17,934 tons worth $47.65 million, down 63.33% and 3.34% in tonnage and value respectively YOY.
Located in southeastern Europe, the Balkans, or the Balkan Peninsula is a geographic area in southeastern Europe with disputed definitions. Six nations, namely Albania, Bulgaria, Bosnia and Herzegovina, Kosovo, Macedonia, and Montenegro, are located entirely within the Balkans while more than 50% of land area of Croatia, Greece and Serbia are also within the Balkans.
This report considers the above-mentioned nine countries without taking into account countries whose land area in the Balkan region is less than 50%, namely Italy (0.1%), Romania (5%), Slovenia (25%) and Bulgaria (3%).
Main Commodities, Trading Partners
Iran mainly exported polystyrene, urea, polyethylene grade film and pistachios to the Balkan states.
In exchange, major commodities imported into Iran from Balkan nations included pumps, pharmaceuticals, chemicals, peaches and corn seeds.
In terms of total trade value, Bulgaria topped the list among Balkan countries trading with Iran standing at 56,619 tons worth $64.17 million, down by 24.87% in tonnage and up by 10.02% in value YOY.
Exports to Bulgaria amounted to 52,798 tons worth $53.25 million to register a 30.7% and 52.65% growth in tonnage and value respectively YOY.
Bulgaria was Iran’s biggest export destination among the countries under review and 37th in the whole world.
In return, Bulgaria exported 3,820 tons of commodities worth $10.92 million to Iran, down by 89.07% and 47.38% in tonnage and value respectively YOY.
Bulgaria was the third exporter of goods to Iran among the Balkan states and 64th in the world.
Major Iranian commodities exported to Bulgaria were polystyrene and polyethylene grade film.
For its part, Bulgaria mainly exported tobacco and oil press machines to Iran.
Greece was Iran’s second biggest trading partner among Balkan nations during the 10 months, as two-way commercial exchanges stood at 62,390 tons worth $48.11 million to register a 100.48% and 10.44% growth in tonnage and value respectively YOY.
Iran exported 49,737 tons of goods worth $25.92 million to Greece, up by 158.1% in tonnage and down by 5.06% in value YOY.
Greece was Iran’s second biggest export destination among Balkan states and 49th in the world during the period.
Iran’s exports to Greece included urea, pistachios and polyethylene grade film.
Iran imported 12,654 tons of commodities worth $22.26 million from Greece, up 3.51% and 31.22% in tonnage and value respectively YOY, which mainly constituted pharmaceuticals, chemicals and peaches.
Greece was the top exporter of goods to Iran among the nations under review and 54th exporter to Iran in the world.
Serbia was Iran’s third major trading partner among Balkan states.
Trade between Iran and Serbia amounted to 16,170 tons worth $28.8 million, indicating a 64.86% and 72.76% increase in tonnage and value respectively YOY.
Iran’s exports reached 14,848 tons worth $16.27 million, up 78.64% and 82.12% in tonnage and value respectively YOY, while Serbia’s exports to Iran were at 1,322 tons worth $12.53 million, up by 18.42% and 57.41% in tonnage and value respectively YOY.
Greece was the biggest exporter to Iran and Bulgaria was the biggest destination of Iranian non-oil products during the period
Serbia was Iran’s third export destination as well as the second exporter of goods to Iran among Balkan members. The country was Iran’s 60th export destination and 62nd exporter to Iran in the world.
Polystyrene, dates and sodium hydroxide were Iran’s main goods exported to Serbia, while Serbia exported mainly pumps, corn seeds, cans and heating system parts.
Iran did not have any commercial exchanges with Kosovo and Montenegro during the period.
Highest Growths, Declines in Trade
Trade with Serbia (at $28.8 million), Macedonia (at $5.02 million) and Croatia (at $4.78 million) saw the highest YOY growth of 72.76%, 49.12% and 20.81% respectively, while trade with Bosnia and Herzegovina (at $2.85 million) witnessed the lowest decline of 14.56%.
Iran’s exports to Croatia (at $3.55 million), Serbia (at $16.27 million) and Macedonia (at $4.31 million) saw the highest growth of 274.01%, 82.12% and 72.62% respectively, while exports to Bosnia and Herzegovina (at $2.77) and Greece (at $25.92 million) witnessed the highest decline of 8.93% and 8.93% respectively.
Imports from Serbia (at $12.53 million) and Greece (at $22.19 million) saw the highest growth of 57.41% and 31.22% respectively while imports from Bosnia and Herzegovina (at $75,635), Bulgaria (at $10.92 million) and Croatia (at $1.22 million) witnessed the highest decline of 76.17%, 47.38% and 32.64% respectively.
