Economy, Domestic Economy

Suitcase Trade to CIS Down

Suitcase Trade to CIS DownSuitcase Trade to CIS Down

Suitcase trade –purchasing consumer goods where prices are low and later selling them elsewhere for profit— between Iran and the Commonwealth of Independent States (CIS) amounted to $74.3 million during the eleven months ending to February 19, 2015, indicating a 26.4 percent fall from $93.9 million over the same period last year. Suitcase trade accounted for 0.23 percent of the country’s total non-oil trade in the eleven-month period, Persian daily Donya-e-Eghtesad noted. According to reports by customs authorities, Astara border crossing recorded the highest level of suitcase trade, followed by Bileh Savar and Bajgiran border crossings.