Iran traded 62.28 million tons of non-oil commodities worth $32.41 billion with 15 neighboring countries, namely Iraq, Turkey, Afghanistan, Pakistan, Russia, Oman, Azerbaijan, Turkmenistan, Kuwait, Qatar, Kazakhstan, Armenia, the UAE, Bahrain and Saudi Arabia, during the 11 months to Feb. 19.
This marks a 2.57% growth in tonnage and 1.75% decline in value compared with last year’s corresponding period, the latest data released by the Islamic Republic of Iran Customs Administration show.
Iran’s exports totaled 54.76 million tons worth $22.2 billion during the period, indicating an 8.03% and 13.68% increase in tonnage and value respectively year-on-year.
Imports stood at 7.51 million tons worth $10.2 billion, down 25.04% and 24.16% in tonnage and value respectively YOY. This shows a surplus of $10 billion in Iran’s non-oil trade with neighbors.
Main Commodities, Trading Partners
Iran mainly exported liquefied natural gas, gas condensates, low-density oils and mineral oils to its neighbors.
In exchange, major commodities imported into Iran included nuclear reactor parts, barley, field corn, cellphones and steam turbine parts.
In terms of trade value, the UAE topped the list of neighboring countries with bilateral trade amounting to 16.33 million tons worth $11.46 billion, down by 27.17% and 23.64% in tonnage and value respectively YOY.
Exports to the UAE amounted to 12.81 million tons worth $5.54 billion to register a 21.29% and 6.69% decline in tonnage and value respectively YOY.
UAE was Iran’s second biggest export destination among the countries under review and third among all countries.
In return, UAE exported 3.51 million tons of commodities worth $5.91 billion to Iran, down by 42.75% and 34.74% in tonnage and value respectively YOY.
The UAE was the top exporter of goods to Iran among the states and second among all countries after China.
Major Iranian commodities exported to the UAE were gas condensates, low-density oils and mineral oils.
For its part, the UAE mainly exported cellphones, steam turbine parts, butter, and boneless frozen cow parts to Iran.
Iraq was Iran’s second biggest trading partner among neighbors during the eleven months as two-way commercial exchanges stood at 18.46 million tons worth $8.29 billion to register 52.11% and 40.9% growth in tonnage and value respectively YOY.
Iran exported 18.39 million tons of goods worth $8.23 billion to Iraq, up by 53.09% and 42.02% in tonnage and value respectively YOY.
Iraq was Iran’s top export destination among the neighboring countries and second in the world during the period.
Iran’s exports to Iraq included natural liquefied gas, mineral oils, household cleaning detergents, and tomatoes.
In return, it imported 67,219 tons of commodities worth $53.57 million from Iraq, down 44.51% and 36.33% in tonnage and value respectively YOY, a majority of which were low-density oil, machinery, aluminum alloy and cans.
Iraq was the seventh exporter of goods to Iran among neighbors and 41st exporter to Iran in the world.
Turkey was Iran’s third major trading partner among neighboring states.
Mutual trade between Iran and Turkey amounted to 7.67 million tons worth $4.43 billion, indicating a 12.5% and 17.04% decrease in tonnage and value respectively YOY.
Iran’s exports reached 6.52 million tons worth $2.17 billion, down 7.63% and 9.72% in tonnage and value respectively YOY, while Turkey’s exports to Iran were at 1.15 million tons worth $2.26 billion, down by 32.6% and 23.04% in tonnage and value respectively YOY.
Turkey was Iran’s fourth export destination as well as the second exporter of goods to Iran among neighbors. The country was Iran’s fifth export destination and third exporter to Iran in the world.
Natural liquefied gas, non-alloy zinc, aluminum, urea and bitumen were Iran’s main goods exported to Turkey, while Turkey exported mainly cooking bananas, tobacco and fiber.
Afghanistan was Iran’s third biggest export destination, after Iraq and the UAE, among neighbors and fourth in the world, as Iran exported 5.23 million tons worth $2.72 billion to Afghanistan during the 11-month period, down by 2.15% in tonnage and up by 8.83% in value YOY.
Iran mainly exported low-density oils, iron/steel bars and floorings to Afghanistan.
Russia was the third major exporter of goods to Iran among neighbors, after the UAE and Turkey, during the 11 months while Iran imported 1.8 million tons of commodities worth $1.13 billion from Russia, indicating a 49.35% and 76.12% hike in tonnage and value respectively YOY.
Iran mainly imported nuclear reactor parts, field corn, barley and sunflower oilseeds from Russia.
Russia was the eighth exporter of goods to Iran in 10 months in the world.
Highest Growths, Declines in Trade
Trade with Oman (at $1.11 billion), Russia (at $1.38 billion) and Iraq (at $8.29 billion) saw the highest YOY growth of 71.25%, 57.57% and 40.9% respectively, while trade with Saudi Arabia (at $360,397), UAE (at $11.46 billion) and Bahrain (at $11.6 million) witnessed the lowest decline of 83.66%, 23.64% and 17.39% respectively.
Iran’s exports to Oman (at $701.09 million), Iraq (at $8.23 billion) and Armenia (at $143.46 million) saw the highest growth of 48.25%, 42.02% and 39.03% respectively, while exports to Kazakhstan (at $120.72 million), Turkey (at $2.17 billion) and the UAE (at $5.54 billion) witnessed the highest decline 18.04%, 9.72% and 6.69% respectively.
Imports from Oman (at $413.17 million), Russia (at $1.13 billion) and Kazakhstan (at $79.23 million) saw the highest growth of 132.43%, 76.12% and 49.67% respectively, while imports from Bahrain (at $812,013), Qatar (at $8.12 million) and Kuwait (at $11.3 million) witnessed the highest decline of 76.12%, 63.88% and 58.22% respectively.
