Iran exported to 128 countries, including 40 European, 21 Asian, 28 African and 12 American countries, and imported from 112 countries, including 41 European, 31 Asian, 12 American and 11 African countries, in the last fiscal year (March 2019-20) despite sanctions, the head of the Islamic Republic of Iran Customs Administration said.
“Iran’s total non-oil trade stood at 169.3 million tons worth $85.1 billion during the period, of which $41.37 billion constituted exports and $43.73 billion imports,” Mehr News Agency also quoted Mehdi Mirashrafi as saying.
Iran’s top partners last year were from Asia with more than $57 billion worth of non-oil trade, accounting for 68% of country’s total trade. Exports and imports to Asian countries stood at more than $30 billion and $27.73 billion respectively.
Exports to and imports from European countries hovered around $9 billion and $15 billion respectively.
In spite of having several trade partners in Africa, Iran’s exports to and imports from African countries did not exceed $400 million and $22 million respectively.
Exports to Americas stood at $130.75 million and imports at $860.08 million.
Iran’s top export destinations in Asia were China with $9.04 billion, Iraq with $8.99 billion and the UAE with $4.5 billion.
Top exporters to Iran in Asia were again China with $11.2 billion, the UAE with $8.91 billion and India with $3.46 billion.
Iran’s top European partners in exports included Turkey with $5.04 billion, Russia with $457.63 million and Azerbaijan Republic with $429.78 million.
The country’s top European partners in imports included Turkey with $4.99 billion, Germany with $2.1 billion and Russia with $1.17 billion.
Iran’s top export destinations in the Americas were Brazil with $105.72 million, Canada with $19 million and Venezuela with $1.18 million.
Top exporters to Iran in the Americas were Brazil with $555.57 million, Argentina $555.57 million and Canada with $52.1 million.
Iran’s top African partners in exports were Mozambique with $72.05 million, Sudan with $62.91 million and Kenya with $256,163.
Iran’s top partners last year were from Asia with more than $57 billion worth of non-oil trade, accounting for 68% of the country’s total trade
The country’s top African partners in imports were Kenya with $6.36 million, Ethiopia with $5.41 million and Tunisia with $4.66 million.
Oil-based products and byproducts, as well as petrochemical products, are included in IRICA's "non-oil" export data. In fact, petrochemicals and gas condensates constitute the greater share of total exports.
Mirashrafi had earlier said that the tonnage of exports (169.3 million tons) during the period was threefold higher than the import volume and about 13.5% more than the previous year.
“In terms of value, however, exports showed a 7% decline year-on-year,” he was quoted as saying by Mehr News Agency.
“Imports reached 35.3 million tons in the fiscal 2019-20, registering a 9.3% growth year-on-year. A trade deficit worth $2.4-billion was registered for the country during the period. Raw materials, machinery and intermediate goods accounted for 85% of the imports.”
The IRICA chief noted that petrochemicals made up the lion’s share of exports, which indicates that the country is moving away from its dependency on selling unprocessed goods toward exporting petroleum products.
“However, the fact that each ton of Iran’s imports was valued at $1,220 while each ton of exports was worth only $309 indicates that the export of unprocessed goods remains a challenge for Iran’s economy.
The imports chiefly included materials used in the sectors of manufacturing, livestock feed, essential goods, medical equipment and pharmaceuticals.
Intermediate goods worth $29.7 billion and capital goods worth $5.9 billion were imported into the country last year. Consumer goods accounted for 8% of total imports.
Rise in Essential Goods Imports
Essential goods imports have taken center stage amid unilateral sanctions imposed by the United States. The spread of the new coronavirus has also exacerbated the need for these goods.
Notably, last year’s imports of livestock feed and essential goods were 3 million tons more compared with the year before.
According to the spokesman of the Islamic Republic of Iran Customs administration, Rouhollah Latifi, a total of 25.09 million tons of essential goods worth $15.5 billion were imported into Iran during the last fiscal year (March 2019-20) to register a 20.77% and 17.13% increase in weight and value respectively, compared with the year before.
“Essential goods accounted for close to 71% and 35% of the volume and value of last year’s total imports respectively,” the official was quoted as saying by ISNA.
“The imported essential commodities included wheat, sugar, corn, rubber, barley, processed tea, rice, seeds, red meat, soybeans, pulses, paper, fertilizers and industrial machinery.”
Also known as necessity goods, essential goods are products consumers will buy, regardless of changes in income levels.
