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Iran-Oman Trade Expected to Hit $1b by Yearend

Iran-Oman Trade Expected to Hit $1b by YearendIran-Oman Trade Expected to Hit $1b by Yearend

President of Iran-Oman Chamber of Commerce Mohsen Zarrabi said trade between the two countries is expected to reach $1 billion by the end of the current Iranian year (March 20, 2019).

The official noted that direct trade between Iran and Oman stood at $221 million in the fiscal 2013-14.

"Four years later, in the fiscal 2017-18, the two exchanged $597 million worth of goods, of which $520 million pertained to Iran’s exports to the Sultanate,” he said.

The first half of the current year saw Iran’s exports to Oman increase by 57% to reach $444 million while imports from the neighboring country rose by 264% to hit $318 million, Fars News Agency quoted Zarrabi as saying. 

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