Trade between Iran and African countries stood at 807,180 tons worth $483.56 million in the first quarter of the current fiscal year (March 21-June 21).
South Africa with 229,834 tons worth $140.81 million, Nigeria with 129,003 tons worth $80.33 million and Mozambique with 82,462 tons worth $57.2 million were the main trade partners during the period.
Data released by the Islamic Republic of Iran Customs Administration show Iran exported 788,028 tons of goods worth $460.29 million to the African continent during the period.
Iran’s main export destinations in Africa were South Africa with 229,511 tons worth $137.77 million, Nigeria with 129,003 tons worth $80.33 million and Mozambique with 82,462 tons worth $57.2 million.
Ivory Coast, Djibouti, Algeria, Egypt, Guinea, Libya, Morocco, Mali, Macao, Mauritania, Mauritius, Mozambique, Nigeria, Sudan, Senegal, Somalia, Togo, Tanzania, Uganda, South Africa, Zambia, Ethiopia, Algeria, Kenya, Tunisia and Rwanda were other customers of Iranian goods.
This is while imports hit 19,152 tons worth $23.27 million.
Kenya topped the list of African countries in terms of exports to Iran during the period, as a total of 1,301 tons worth $8.1 million were exported to Iran. It was followed by Tanzania with 14,185 tons worth $5.65 million and South Africa with 322 tons worth $3.04 million.
Record High Exports in Fiscal 2021-22
Iran’s exports to African countries exceeded $1.19 billion in the last Iranian year (March 2021-22), registering a 107% rise compared with the year before. The volume of exports is a record high, according to director general of the Arab and African States Department of the Trade Promotion Organization of Iran.
“Our top 10 export destinations were Ghana with $353 million, South Africa with $254 million, Nigeria with $125 million, Mozambique with $98 million, Kenya with $77 million, Sudan with $73 million, Algeria with $67 million, Tanzania with $55 million, Somalia with $29 million and Ethiopia with $11 million,” Farzad Piltan was also quoted as saying by IRNA.
The official noted that Iran’s main products exported to Africa during the period were iron and steel ingots, urea, liquid butane and propane, floorings, iron and steel profiles and construction materials.
“Exports to South Africa saw the highest increase of 570%. Last year, close to 553,000 tons of goods were sold to that country worth around $254 million. This is while in the year before, only 27,000 tons of goods worth $38 million were exported to the African state,” he added.
Iran’s main exported products were urea ($280 million), hot rolled steel bars ($11 million), liquefied butane (close to $8 million), liquefied propane ($5.4 million), sulfur ($4.6 million), floorings ($2.8 million) and steel ($1.6 million).
Piltan noted that a total of $60 million worth of goods were imported from African states during the same period, registering a 37% decline compared with the previous year.
The main exporters to Iran were Tanzania, Ghana, Ethiopia, South Africa and Kenya.
Imports from South Africa, he added, declined by 25% during the period, to reach $6 million.
The main reason for the rise in Iran’s exports to Africa is that Iranian producers and exporters have, in recent years, boosted their market research and marketing to secure footholds in new markets.
“They have also adapted themselves and found new ways of going about trade under economic sanctions,” the TPO official said.
“Iran has taken measures to increase the number of commercial delegations it sends and receives to and from African states over the past few years, held many exhibitions and joint economic commissions and entered into talks with private and public sectors in Africa.
“Given that development projects have increased in some African counties,” said Piltan, “demand for certain commodities is on the rise in these states, providing ample opportunity for Iran to further increase its exports.”
“We have many plans that will be implemented within the next five months. We are establishing an African Affairs General Bureau in the Trade Promotion Organization, which will focus on managing and expanding commercial ties with African states. Two Iranian trade centers are being launched in Uganda and Tanzania and a ‘Technology House’ in Kenya. We have scheduled joint economic commissions to be held with officials and businesspeople from Nigeria, Ghana, Mali and Niger. We will also be hosting Congo and Algeria’s ministers of industries and transportation,” he said.
