Iran traded 45.28 million tons of goods worth $33.71 billion, excluding crude oil exports, with the 15 neighboring countries sharing land or sea borders, during the first eight months of the current Iranian year (March 21-Nov. 21), registering a 22% fall in terms of weight, but a 2.17% rise in terms of value compared with the corresponding period of last year.
The latest data released by the Islamic Republic of Iran Customs Administration show the UAE was the main trade partner of Iran during the period with 15.69 million tons worth $15.16 billion. It was followed by Turkey with 7.32 million tons worth $7.21 billion and Iraq with 13.31 million tons worth $4.78 billion.
Exports stood at 39.13 million tons worth $16.27 billion during the period, registering a 25.29% and 2.33% decline in terms of weight and value, respectively.
Iraq was the biggest destination of Iranian exports during the period with 13.22 million tons (down 38.88%) of imports worth $4.66 billion (down 23.89%). It was followed by the UAE with 7.6 million tons (up 4.34%) worth $3.98 billion (up 35%) and Turkey with 5.09 million tons (down 55.11%) worth $3.39 billion (down 9.86%).
Imports reached 13.55 million tons worth $17.44 billion during the same period to register a 7.35% decline in terms of weight, but a 7.03% growth in terms of value year-on-year.
The UAE, with 8.08 million worth $11.18 billion (up 11.86%) was the biggest exporter to Iran followed by Turkey with 2.22 million tons worth $3.81 billion (up 17.68%) and Russia with 3.81 million tons worth $1.01 billion (up 1.8%).
The above figures on exports and imports show Iran registered $1.17 billion in trade deficit with its neighbors during the eight months to Nov. 21.
Iran’s total foreign trade, excluding crude oil exports, stood at 93.8 million tons worth $69.48 billion during the period to register a 10% rise in terms of value year-on-year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.
“Exports hit 70.4 million tons worth $32.36 billion during the period, registering a 16% decline in terms of weight, but a 4.44% rise in value,” Morteza Emadi was also quoted as saying by IRIB News.
Liquefied propane, methanol, liquefied butane, polyethylene, bitumen, urea, liquefied natural gas, iron and steel ingots, and light oils were the main goods exported during the period.
China, Iraq, the UAE, Turkey and India were the main export destinations in a descending order.
Imports stood at 23.4 million worth $37.11 billion during the period, registering a 12.44% fall in terms of weight, but a 15.25% rise in value.
The above data indicate that neighbors accounted for half of Iran’s exports during the period.
Neighborly Trade in Review
Iran traded 100.13 million tons of goods worth $51.87 billion with 15 neighboring countries during the last Iranian year (March 2021-22), according to Alireza Moqaddesi, the head of the Islamic Republic of Iran Customs Administration.
The tonnage and value of trade registered a 23% and 43% rise respectively compared to the preceding year.
Iran’s exports stood at 75.44 million tons worth $26.03 billion, registering a 12% and 29% rise in weight and value YOY, IRNA reported.
Iraq with $8.9 billion (up 21% YOY) topped the list of export destinations. It was followed by Turkey with $6.1 billion (up 141% YOY), the UAE with $4.9 billion (down 8% YOY), Afghanistan with $1.8 billion (down 20% YOY) and Pakistan with $1.3 billion (up 24% YOY).
The country’s top five export destinations were followed by Oman with $716 million (up 63% YOY), Russia with $579 million (up 15% YOY), Azerbaijan Republic with $565 million (up 11% YOY), Turkmenistan with $335 million (up 144% YOY), Armenia with $304 million (no significant YOY change), Kazakhstan with $187 million (up 11%YOY), Kuwait with $158 million (up 2% YOY), Qatar with $134 million (down 20% YOY), Bahrain with $10 million (up 15% YOY) and Saudi Arabia with $41,400.
As for imports, Iran shipped in 24.68 million tons of products worth $25.84 billion from its neighbors during the same period, indicating a 68% and 60% growth in tonnage and value respectively compared with the year before.
The UAE was the top exporter to Iran with $16.5 billion (up 69% YOY). It was followed by Turkey with $5.3 billion (up 20% YOY), Russia with $1.7 billion (up 54% YOY), Iraq with $1.2 billion (up a whopping 790% YOY) and Oman with $619 million (up 43% YOY), Pakistan with $312 million, Kazakhstan with $78 million, Azerbaijan Republic with $42.6 million, Turkmenistan with $33.3 million, Afghanistan with $21.1 million, Armenia with $20.2 million, Kuwait with $14.8 million, Qatar with $9.6 million and Bahrain with $1.5 million.
Trade with neighbors stood at $36.45 billion in the fiscal 2020-21, down from $40 billion in the preceding year. Iran’s exports totaled $20.35 billion in the fiscal 2021-22, indicating a $4 billion decrease in value year-on-year. Imports were at $16.09 billion, unchanged compared with the previous year.
