Iran traded 45.28 million tons of goods worth $29.09 billion, excluding crude oil exports, with its 15 neighboring countries during the current Iranian year’s first seven months (March 21-Oct. 22), latest data released by the Islamic Republic of Iran Customs Administration show.
The tonnage of trade saw a 25.75% year-on-year decline, but its value experienced a 2.72% rise.
The UAE was the main trade partner of Iran during the period with 13.23 million tons worth $12.91 billion. It was followed by Turkey with 6.35 million tons worth $6.29 billion and Iraq with 11.62 million tons worth $4.14 billion.
Exports reached 33.28 million tons worth $14.24 billion during the period to mark a decline of 32.02% and 3.59% in tonnage and value respectively.
Iraq was the biggest destination for Iranian exports during the period with 11.48 million tons of imports worth $4.02 billion. It was followed by the UAE with 6.54 million tons worth $3.47 billion and Turkey with 4.59 million tons worth $3.08 billion.
Imports stood at 11.37 million tons worth $14.84 billion during the same period, registering a 16.22% decline in tonnage but a 9.62% growth in value.
The UAE, with 6.68 million worth $9.43 billion, was the biggest exporter to Iran followed by Turkey with 1.75 million tons worth $3.21 billion and Russia with 1.53 million tons worth $923.62 million.
The above figures on exports and imports show Iran registered a trade deficit of $595.63 million with its neighbors during the seven months to Oct. 22.
Half of Iran’s Total Trade With Neighbors
Iran’s total foreign trade (excluding crude oil exports) stood at 81.03 million tons worth $60.13 billion during the period under review, registering a 17.6% decline in weight but a 10% rise in value compared with the similar period of last year, according to the new spokesman of the Islamic Republic of Iran Customs Administration.
“Non-oil exports stood at 61.28 million tons worth $28.4 billion, registering an 18.2% fall in volume, but a 5.6% growth in value year-on-year,” Morteza Emadi was also quoted as saying by Fars News Agency.
Iran’s main exported goods during the period, he added, were liquefied propane, methanol, liquefied butane, polyethylene, bitumen, liquefied natural gas, urea, non-alloy iron and steel ingots, and light oils.
The top five export destinations were China with $9.18 billion, Iraq with $4.03 billion, the UAE with $3.47 billion, Turkey with $3.08 billion and India with $1.09 billion.
“In fact, these countries accounted for 70.3% and 73.4% of the total weight and value of Iran’s exports respectively during the seven-month period,” the IRICA spokesman said.
Emadi noted that imports reached 19.74 million tons worth $31.72 billion during the same period, indicating a 15.7% decline in weight but a 14.4% rise in value compared with the corresponding period of last year.”
The main imported goods included field corn, rice, wheat, soybeans, mobile phones, sunflower oil, safflower oil, tractors and unrefined sugar.
“The top five exporters to Iran during the period were the UAE with $9.43 billion, China with $8.28 billion, Turkey with $3.21 billion, India with $1.69 billion and Germany with $991 million. These countries accounted for 62.3 and 74.4% of the weight and value of Iran’s total imports respectively,” he said.
Trade in Review
Iran traded 100.13 million tons of goods worth $51.87 billion with its 15 neighboring countries 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 a 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), 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 $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), Oman with $619 million (up 43% YOY), 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.
Trade with neighbors stood at $36.45 billion in the fiscal 2020-21, down from $40 billion in the preceding year. Iran’s exports totaled $20.35 billion in the fiscal 2021-22, indicating a $4 billion decrease in value year-on-year. Imports were at $16.09 billion, unchanged compared with the previous year.
Iran’s total foreign trade, excluding crude oil exports, stood at 162 million tons worth $100 billion in the fiscal 2021-22, registering a 38% rise in value compared with the year before.
“Exports stood at 122 million tons worth $48 billion, registering a 41% increase in value compared with the previous year. Iran’s top five export destinations were China, Iraq, Turkey, the UAE and Afghanistan,” Moqaddesi said.
Imports hit 40 million tons worth $52 billion during the same period, registering a 21% and 36% growth in weight and value respectively.
The UAE, China, Turkey, Germany and Russia were the main exporters.
“The imports mainly included essential goods, raw materials and production line machinery.”
Also known as necessity or basic goods, essential goods are products consumers will buy, regardless of changes in income levels.
Iran’s essential goods imports in the fiscal 2021-22 included corn, unrefined vegetable oil, pharmaceuticals and medical equipment, wheat, oilseeds, soymeal, barley, rice, sugar, heavy vehicle tires, fertilizer, pesticide, insecticide, veterinarian medicine, red meat, chicken, eggs, pulses and tea.
