Iran traded 8.42 million tons of non-oil commodities worth $3.94 billion with the member states of the Association of Southeast Asian Nations in the last fiscal year (ended March 20, 2019) to register a 6.23% and 12.85% decline in tonnage and value respectively compared with the year before.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 4.86 million tons worth $2.1 billion during the year, indicating a 3.66% and 1.4% decline in tonnage and value respectively year-on-year.
Imports stood at 3.55 million tons worth $1.84 billion, down 9.53% and 23.05% in tonnage and value respectively YOY.
As a result, Iran recorded $260.81 million in non-oil trade surplus with ASEAN states.
The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising 10 countries, namely Indonesia, Thailand, Singapore, Malaysia, Vietnam, the Philippines, Myanmar, Cambodia, Brunei and Laos.
The group promotes intergovernmental cooperation and facilitates economic, political, security, military, educational and socio-cultural integration among its members and other countries in Asia.
A major partner of Shanghai Cooperation Organization, ASEAN maintains a global network of alliances and dialogue partners and is considered by many as a global powerhouse. It is involved in numerous international initiatives and hosts diplomatic missions throughout the world.
Main Commodities, Trading Partners
Iran mainly exported non-alloy semi-finished iron/steel products, non-alloy iron/steel ingots, liquefied propane, gas condensates and liquefied butane to the ASEAN states.
In exchange, major commodities imported into Iran from ASEAN nations included field corn, palm oil, cooking bananas, medium-density fibers, soybean and semi- and wholly-milled rice.
In terms of total trade value, Singapore topped the list among ASEAN nations with Iran trade standing at 2.48 million tons worth $948.72 million, up by 7.84% in tonnage and down 4.5% in value YOY.
Exports to Singapore amounted to 2.1 million tons worth $786.86 million to register a 5.78% and 21.27% rise in tonnage and value respectively YOY.
Singapore was Iran’s top export destination among the countries under review and ninth in the world.
In return, Singapore exported 2.43 million tons of commodities worth $911.1 million to Iran, up by 9.98% in tonnage and down by 4.18% in value YOY.
Singapore was the top exporter of goods to Iran among ASEAN countries and 13th in the world.
Major Iranian commodities exported to Singapore were mineral oils, chemicals, pistachios, floorings and non-alloy zinc.
Singapore mainly exported field corn, palm oil, soybean, semi- and wholly-milled rice, cooling compressor and sugar to Iran.
Thailand was Iran’s second biggest trading partner among ASEAN nations during the period, as two-way commercial exchanges stood at 2.04 million tons worth $942.29 million to register a 14.83% and 13.05% decline in tonnage and value respectively YOY.
Iran exported 1.58 million tons of goods worth $709.92 million to Thailand, down by 12.52% and 3.28% in tonnage and value respectively YOY.
Thailand was Iran’s second export destination among ASEAN countries and 11th in the world during the 12 months.
Iran’s exports to Thailand included non-alloy iron/steel ingots, non-alloy semi-finished iron/steel products and liquefied propane.
Iran imported 454,530 tons of goods worth $232.36 million from Thailand, down 21.99% and 33.55% in tonnage and value respectively YOY, which constituted medium-density fibers, rice, electrical equipment and natural rubber.
Thailand was the third exporter of goods to Iran among ASEAN states and 25th exporter to Iran worldwide.
Indonesia was Iran’s third major trading partner among the states under review.
Trade between Iran and Indonesia amounted to 2.24 million tons worth $917.86 million, down by 3.89% in tonnage and up by 0.52% in value YOY.
Iran’s exports reached 2.1 million tons worth $786.86 million to register a 5.78% and 21.27% increase in tonnage and value respectively YOY, while Indonesia’s exports to Iran were at 138,192 tons of commodities worth $131 million to Iran, down by 59.88% and 50.43% in tonnage and value respectively YOY.
Indonesia was Iran’s top export destination and the fourth exporter of goods to Iran among ASEAN states.
The country was Iran’s ninth export destination and 29th exporter to Iran in the world.
Non-alloy semi-finished iron/steel products, non-alloy iron/steel ingots, liquefied propane and bitumen were Iran’s exports to Indonesia, while Indonesia exported paperboard, aluminum oxide, medium-density fibers, coconut and industrial alcohol to Iran.
Malaysia was Iran’s third export destination and the second exporter of goods to Iran among the nations under review. The country was Iran’s 19th export destination as well as the 19th exporter to Iran in the world, as it exported 604,308 tons worth $246.93 million to Malaysia during the period. Iran exported gas condensates, non-alloy iron/steel ingots, chemicals and bitumen to Malaysia.
This is while Malaysia exported 364,052 tons worth $395.51 million to Iran during the year, down by 16.34% and 19.27% in tonnage and value respectively YOY. Iran mainly imported palm oil, natural rubber and machinery from Malaysia.
Highest Growths, Declines in Trade
Trade with Cambodia ($42,497), Myanmar ($115.22 million) and Indonesia ($917.86 million) saw the highest growths of 147%, 58.23% and 0.52% respectively YOY, while trade with the Philippines ($147.65 million), Vietnam ($231.78 million) and Thailand ($942.29 million) witnessed the lowest declines of 54.03%, 48.18% and 13.05% respectively.
Iran’s exports to Cambodia ($42,497), Myanmar ($115.13 million) and Indonesia ($786.86 million) saw the highest rise of 147.52%, 58.3% and 21.27% respectively YOY, while exports to the Philippines ($20.85 million), Vietnam ($186.04 million) and Singapore (at $37.61 million) witnessed the lowest declines of 65.97%, 49.39% and 11.64% respectively.
Imports from all the nations under review witnessed a fall, such that imports from the Philippines ($126.79 million), Indonesia ($131 million) and Vietnam ($45.74 million) witnessed the highest declines of 51.21%, 50.43% and 42.6% respectively YOY.
