Iran’s trade with its 15 neighboring countries stood at 20.97 million tons worth $12.36 billion in the first quarter of the current fiscal year (March 21-June 21), registering an 18% year-on-year growth, according to Rouhollah Latifi, spokesman of the Islamic Republic of Iran Customs Administration.
Trade with neighboring countries accounted for 59% and 49% of Iran’s total trade in weight and value respectively during the three-month period, he added.
Total exports during the period hit 27.66 million tons worth $13.07 billion, of which 16.05 million tons worth $6.74 billion were exported to the neighboring countries, IRNA reported.
As a result, exports to neighbors accounted for 60% and 51% of total exports’ weight and value, respectively.
Iraq with $1.82 billion (down 22%), Turkey with $1.74 billion (up 192%), the UAE with $1.65 billion (up 29%), Afghanistan with $367 million (down 35%) and Oman with $331 million (up 168%) were the main export destinations among neighboring countries.
They were followed by Pakistan with $279 million (up 13%), Azerbaijan with $161 million (up 87%), Russia with $115 million (down 15%), Turkmenistan with $95 million (up 38%), Armenia with $74 million (up 21%), Kuwait with $45 million (up 37%), Kazakhstan with $34 million (down 12%), Qatar with $28 million (down 17%) and Bahrain with $2 million (up 22%).
Total Q1 imports stood at 8.15 million worth $12.46 billion, of which 4.43 million tons (up 1%) worth $5.63 billion (up 15%) were imports from the neighbors, which accounted for 54% and 45% of total imports’ weight and value, respectively.
Main exporters to Iran among neighboring states in Q1 were the UAE with $3.43 billion (up 6%), Turkey with $1.27 billion (up 22%), Russia with $394 million (up 22%), Pakistan with $196 million (up 208%) and Oman with $194 million (up 92%) during the period.
They were followed by Kazakhstan with $66 million (up 27%), Iraq with $41 million (down 41%), Qatar with $13 million (up 261%), Azerbaijan with $8.3 million (up 76%), Turkmenistan with $8.1 million (down 13%), Afghanistan with $4 million (up 81%), Armenia with $2 million (down 38%), Kuwait with $1.7 million (down 17%) and Bahrain with $433,000 (up 2%).
Neighborly Trade in Review
Iran traded 100.13 million tons of goods worth $51.87 billion with 15 neighboring countries (with which it has common borders whether by sea or land) during the last Iranian year (March 2021-22), according to Alireza Moqaddesi, the head of the Islamic Republic of Iran Customs Administration.
The tonnage and value of trade registered 23% and 43% rise respectively compared to the preceding year.
Iran’s exports stood at 75.44 million tons worth $26.03 billion, registering a 12% and 29% increase 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 a 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.
Iran traded $36.45 billion worth of non-oil goods with 15 neighboring countries in the fiscal 2020-21, down from $40 billion in the preceding year. Iran’s exports to its neighbors totaled $20.35 billion in the fiscal 2021-22, indicating a $4 billion decrease in value year-on-year. This is while imports amounted to $16.09 billion, unchanged compared with the previous year.
