42% Rise in Iran's Non-Oil Trade With VISTA

Iran traded 716,900 tons of non-oil commodities worth $549.79 million with Vietnam, Indonesia, South Africa, Turkey and Argentina, collectively known as VISTA, in the first Iranian month (March 21-April 20) to register a 39.81% and 42.06% growth in tonnage and value respectively compared with last year’s corresponding month.
The acronym VISTA is used in economics for discussing emerging markets. The concept was first proposed in 2006 by BRICs Economic Research Institute of Japan.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 481,441 tons worth $200.79 million during the month, indicating a 12.32% rise in tonnage and 16.63% decline in value year-on-year.
Imports stood at 235,459 tons worth $348.99 million, up 179.78% and 138.79% in tonnage and value respectively YOY.
As a result, Iran recorded $148.19 million in non-oil trade deficit with VISTA nations.