Iran traded 1.25 million tons of non-oil commodities worth $1.11 billion with the Americas in the last fiscal year (ended March 20, 2019) to register a 17.49% and 31.41% decline in tonnage and value respectively compared to the year before.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 79,484 tons worth $105.75 million during the year, indicating a 63.86% and 60.9% decline in terms of tonnage and value respectively year-on-year.
Imports stood at 1.17 million tons worth $1.01 billion, down 9.62% and 25.54% in tonnage and value respectively YOY.
The Americas are landmasses of North America and South America, at times collectively considered a single continent. The Americas make up most of the land in Earth's western hemisphere and comprise the New World. There are 35 sovereign states in the Americas.
Main Commodities, Trading Partners
Iran mainly exported floorings, non-alloy semi-finished iron/steel products, copper, carpets and pistachios to the countries in the Americas.
In exchange, major commodities imported into Iran included boneless frozen cow parts, oilcake, field corn, soybean oil, sunflower oil, cooking bananas and soybean.
In terms of trade value, Brazil topped the list among these countries with bilateral trade standing at 634,620 tons worth $506.62 million, up by 14.52% in tonnage and down 27.97% in value YOY.
Exports to Brazil amounted to 38,726 tons worth $17.3 million to register a 4.6% and 39.45% decline in tonnage and value respectively YOY.
The largest country in both South America and Latin America was Iran’s third export destination and ranked as 65th exporter to Iran in the world.
In return, Brazil exported 595,895 tons of commodities worth $489.31 million to Iran, up by 16.03% in tonnage and down 27.49% in value YOY.
Brazil was the top exporter of goods to Iran among the countries in the Americas and 15th in the world.
Major Iranian commodities exported to Brazil were non-alloy semi-finished iron/steel products, float glass, dried grapes and floorings.
In return, Brazil mainly exported boneless frozen cow parts, field corn, tractor parts, sugar and soybean to Iran.
The US was Iran’s second biggest trading partner in the Americas during the 12 months, as two-way commercial exchanges stood at 71,109 tons worth $187.53 million to register a 73.02% increase in tonnage and a 37.84% decline in value YOY.
Iran exported 1,503 tons of goods worth $45.18 million to the US, down by 57.72% and 65.85% in tonnage and value respectively YOY.
The US was Iran’s top export destination in the Americas and 41st in the world.
Iran’s exports to the US included floorings, carpets, Gabbeh (a hand-woven pile rug), saffron and pastry. It imported 69,606 tons of commodities worth $142.35 million from the US, up 85.4% in tonnage and down 15.96% in value YOY, which mainly consisted of pharmaceuticals, dietary supplements, wood pulp and soybean.
The US was the second biggest exporter of goods to Iran among the countries under review and 27th exporter to Iran in the world.
Argentina was Iran’s third major trading partner among the states under review.
Mutual trade between Iran and Argentina amounted to 161,501 tons worth $128.17 million, indicating a 26.25% and 26.69% increase in tonnage and value respectively YOY.
Iran’s exports reached 96 tons worth $139,170, down 86.16% and 88.01% in tonnage and value respectively YOY, while Argentina’s exports to Iran were at 161,405 tons worth $128.03 million, up by 26.86% and 28.02% in tonnage and value respectively YOY.
Argentina was Iran’s 10th export destination as well as the third exporter of goods to Iran in the Americas and 30th exporter to Iran in the world.
Dried grapes, car radiators, glass dishware and floorings were Iran’s main goods exported to Argentina, which exported soybean oil, sunflower oil, oilcake and pod vegetables to Iran.
Canada was Iran’s second biggest export destination in the region and 46th in the world, as Canada exported 34,484 tons worth $33.38 million to Iran during the period, up by 201.69% in tonnage and up 51% in value YOY. Iran mainly exported floorings, copper, pistachios and dates to Canada.
Highest Growths, Declines in Trade
Trade with Bolivia ($2.36 million), Dominican Republic ($58,579) and Venezuela ($491,650) saw the highest YOY growths of 593.84%, 572.94% and 35.43% respectively, while trade with Mexico ($5.86), Paraguay ($9.2 million) and Ecuador ($47.32 million) witnessed the lowest declines of 83.84%, 74.15% and 55.25% respectively.
Iran’s exports to Dominican Republic ($55,874), Bolivia ($2.36 million) and Ecuador ($204,510) saw the highest growths of 831.23%, 593.84% and 61.5% respectively, while exports to Paraguay ($15,548), Peru ($51,190) and Argentina ($139,170) witnessed the highest declines of 93.93%, 90.25% and 88.01% respectively.
Imports from Argentina ($128.03 million) saw the highest growth of 28.02%, while imports from Paraguay ($9.19 million), Ecuador ($47.12 million) and Peru ($1.57 million) witnessed the highest decline of 74.01%, 55.39% and 45.06% respectively.
