Iran has exported more than 195,300 tons of goods worth $115.4 million to Nigeria during the first eight months of the current Iranian year (March 21-Nov. 21), according to the spokesperson of Iran-Africa Traders Club.
“Urea accounted for the lion’s share of exports,” Rouhollah Latifi was also quoted as saying by IRNA.
Other exported products included truck and auto spare parts, rubber, glass containers, dishwashing machines, swamp coolers, flooring, apparel, aluminum, rosewater, kiwi, paint, biscuit, saffron, furniture and edible oils.
Last fiscal year (March 2021-22), the official added, Iran’s exports to the African country reached 266,000 tons worth $125.3 million.
Iran’s total exports to African countries stood at $1.19 billion in the fiscal 2021-22, registering a 107% rise compared with the year before. The volume of exports was a record high, according to Farzad Piltan, ex-director general of the Trade Promotion Organization of Iran’s Arab and African Affairs Department.
The top export destinations were Ghana with $353 million and South Africa with $254 million, which were followed by Nigeria.
The official added that Iran’s main exported products 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%, he said.
The export commodities included urea ($280 million), hot rolled steel bars ($11 million), liquefied butane ($8 million), liquefied propane ($5.4 million), sulfur ($4.6 million), floorings ($2.8 million) and steel ($1.6 million).
Iran’s exports to Africa have increased, Piltan said, as Iranian producers and exporters in recent years have 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 the economic sanctions,” he 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 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.
Seven new business centers will be established in Africa by the end of the current fiscal year in March 2023.
“So far, three business centers have been founded in the African continent, and we plan to increase this number to 10 by the end of the year,” Mohammad Sadeq Ghanazadeh, the caretaker of TPO’s Arab and African Affairs Department, was quoted as saying by IRNA.
By establishing trade centers, Iran seeks to facilitate its commercial ties in target countries by providing assistance to foreign businesspeople and advice on best ways to enter Iranian markets.
The official noted that more than 400 business delegations from Africa have visited Iran since the beginning of the current fiscal year in March 2022.
“Many contracts have been signed for the development of infrastructure and sea and air transportation, and by the end of the year, an airline agreement between Iran and South Africa and other shipping lines will be concluded,” he said.
