Iran traded 68 million tons of goods worth $33 billion with its 15 neighboring countries during the current Iranian year’s first eight months (March 21-Nov. 21), registering a 19% and 45% rise in weight and value respectively compared with the similar period of last year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.
“The tonnage and value of trade with neighbors accounted for 62% and 52% of Iran’s total foreign trade during the eight months under review,” Rouhollal Latifi was also quoted as saying by ILNA.
According to the official, 83.74 million tons of goods worth $31.1 billion were exported during the period, around 52.39 million tons of which worth $16.66 billion (constituting 62% and 53% of the weight and value of the overall export respectively) were shipped to Iran’s 15 neighbors.
Exports to neighbors registered a rise of 11% and 24% in volume and value respectively compared with the corresponding period of last year.
Iraq topped the list of export destinations among neighbors with 21.64 million tons worth $6.13 billion. It was followed by Turkey with 11.35 million tons worth $3.77 billion, the UAE with 7.29 million tons worth $2.93 billion, Afghanistan with 3.6 million tons worth $1.27 billion, Pakistan with 1.86 million tons worth $764 million, Russia with 697,000 tons worth $370 million, Oman with 1.24 million tons worth $363 million, Azerbaijan with 554,000 tons worth $336 million, Armenia with 787,000 tons worth $211 million, Turkmenistan with 895,000 tons worth $120 million, Kazakhstan with 312,000 tons worth $113 million, Qatar with 784,000 tons worth $97 million, Kuwait with 1.91 million tons worth $91 million, Bahrain with 7,600 tons worth $5 million and Saudi Arabia with 428 tons worth $41,000.
Iranian commodities exported to its neighbors included petrochemicals, liquefied gas, oil derivatives, food, agricultural and industrial products, construction materials and minerals.
Iran’s total imports during the period stood at 26.54 million tons worth $32.03 billion, around 14.63 million tons of which worth $16.3 billion (51% and 59% of the total weight and value of imported commodities respectively) were from neighbors.
A total of 83.74 million tons of goods worth $31.1 billion were exported during March 21-Nov. 21, of which 52.39 million tons worth $16.66 billion were shipped to Iran’s 15 neighbors. Iran’s total imports during the period stood at 26.54 million tons worth $32.03 billion, of which 14.63 million tons worth $16.3 billion were from neighbors
The UAE topped the list of exporters to Iran among neighbors with $10 billion, registering an 85% rise compared with the corresponding period of last year, followed by Turkey with $3.24 billion (up 24% YOY), Russia with $1 billion (up 38% YOY), Iraq with $707 million (up 1,044% YOY), Oman with $356 million (up 32% YOY), Pakistan with $182 million (up 43% YOY), Kazakhstan with $38 million (up 54% YOY), Azerbaijan with $29 million (up 87% YOY), Turkmenistan with $23 million (up 224$ YOY), Armenia with $16 million (up 44% YOY), Afghanistan with $11.4 million (up 630% YOY), Kuwait with $8.2 million (up 97% YOY), Qatar with $6.6 million (up 38% YOY) and Bahrain with $1.3 million (up 1,600% YOY).
Latifi noted that Saudi Arabia had no export to Iran during the period.
Iran’s foreign trade amounted to 110.3 million tons of goods (excluding crude oil exports) worth $63.1 billion during the period, registering a 43.5% and 40% year-on-year growth in weight and value respectively, according to Mehdi Mirasharfi, the head of the Islamic Republic of Iran Customs Administration.
Exports registered a 10.5% and 42% rise in terms of weight and value respectively YOY, IRNA reported.
Petrochemical exports with 39.8 million tons worth $13.3 billion had the biggest share in exports, accounting for 47% of total weight and 43% of total value of exports.
China with 19.3 million tons worth $9.1 billion was the biggest export destination.
Imports registered an increase of 38% and 21% in weight and value respectively.
Top exporters to Iran were the UAE and China.
Mirashrafi noted that 8.1 million tons of goods were transited through Iran during the period under review, registering an 80% year-on-year rise.
“The transit volume during the eight month of the current year is more than that of the whole fiscal 2020-21, or fiscal 2019-20,” he added.
Essential goods with 20.3 million tons worth $12.4 billion had the highest share in imports, accounting for 75% of total weight and 38% of total value of imports.
Also known as necessity goods, essential goods are products consumers will buy, regardless of changes in income levels.
The essential goods imported to Iran mainly include wheat, barley, oilseeds, edible vegetable oils, soymeal, corn and pharmaceuticals.
The IRICA chief noted that 17.8 million tons worth $9.9 billion of imports during the period were purchased at subsidized rates.
