Iran’s total non-oil trade with Balkan states in the last Iranian year (ended March 20, 2018) witnessed declines of 79.55% and 9.64% in tonnage and value respectively compared with the year before to stand at 148,428 tons worth $168.80 million, Financial Tribune’s data analysis based on Islamic Republic of Iran Customs Administration's statistics indicate.
Located in southeastern Europe, the Balkans, or the Balkan Peninsula is an area in southeastern Europe with various and disputed jurisdictions. Six nations, namely Albania, Bulgaria, Bosnia and Herzegovina, Kosovo, Macedonia and Montenegro, are positioned entirely within the Balkans while more than 50% of land area of Croatia, Greece and Serbia are within the Balkans.
Our analysis considers the abovementioned nine countries without taking into account countries whose land area located in the Balkans region is less than 50%, namely Italy (0.1%), Romania (5%), Slovenia (25%) and Turkey (3%).
Iran exported a total of 94,457 tons of non-oil goods worth $108.99 million to the nine countries under review last year, registering a decrease of 81.19% in tonnage and an increase of 20.49% in value. This is while the country’s imports stood at 53,970 tons worth $59.81 million down by 75.9% and 37.92% in tonnage and value respectively year-on-year.
Iran-Bulgaria trade stood at 84,764 tons worth $70.93 million, down by 82.56% and 0.85% in tonnage and value respectively YOY, making the Balkan nation Iran’s biggest trading partner among the nine countries under review.
Iran exported 48,691 tons of commodities worth $47.21 million to Bulgaria, posting a 89.85% and 14.12% decline in tonnage and value respectively YOY.
Bulgaria exported 36,073 tons of goods worth $23.71 million to Iran, up 482.48% and 43.19% in tonnage and value respectively YOY.
Greece was Iran's second biggest trading partner among the Balkan nations, having traded $55.19 million worth of 38,433 tons of non-oil goods with Iran last year, up 38.39% in tonnage and 14.51% in value YOY.
Iran exported 22,947 tons of commodities worth $34.60 million to Greece, posting a 48.4% and 31.96% increase in tonnage and value respectively YOY.
Greece exported 15,486 tons of goods worth $20.58 million to Iran, up 25.82% in tonnage and down 6.3% in value respectively YOY.
Iran's trade with Serbia witnessed a YOY decrease of 93.69% and 53.76% in tonnage and value respectively to hit 13,099 tons worth $24.37 million.
Iran exported 11,148 tons of non-oil goods worth $12.62 million to Serbia, up 308.83% and 325.89% in tonnage and value respectively YOY.
Serbia’s exports to Iran stood at 1,951 tons worth $11.74 million, down by 99.05% and 76.39% in terms of tonnage and value respectively YOY.
Iran’s non-oil trade with Croatia witnessed a YOY increase of 478.07% in tonnage and decrease of 31.14% in value to reach 2,363 tons worth $4.77 million respectively.
Iran’s exports to Croatia stood at 1,980 tons worth $1.25 million, increasing by 591.28% and 269.97% in tonnage and value respectively YOY.
This is while Iran imported 382 tons of Croatian goods worth $3.52 million, up by 212.77% in tonnage and 46.58% in value YOY.
Albania was next, as trade with this country totaled 3,558 tons worth $5.32 million last year, registering a 650.81% and 216.28% growth in tonnage and value respectively YOY. This is the highest value rise in trade with Iran among the Balkan states.
In fact, this amount of trade entirely pertains to Iran’s exports to this Southeast European country, as Albania did not have any exports to Iran during the period. Iran’s exports to Albania alone saw a staggering YOY increase of 804.19% and 296.64% in tonnage and value respectively.
Bosnia and Herzegovina traded 2,910 tons of non-oil goods worth $4.52 million with Iran to register a YOY increase of 170.41% and 105.38% in tonnage and value respectively.
Iran exported 2,846 tons of goods worth $4.38 million to Bosnia and Herzegovina, up 314.95% and 311.16% in tonnage and value respectively, while Bosnia and Herzegovina’s exports to Iran stood at 63 tons worth $141,498, indicating an 83.63% and 87.55% decline in tonnage and value respectively YOY.
Trade with Macedonia witnessed a YOY increase of 29.88% and 3.99% in tonnage and value respectively to reach 3,298 tons worth $3.69 million.
Iran exported 3,284 tons of non-oil goods worth $3.59 million to Macedonia, up 29.34% and 1.19% in tonnage and value respectively YOY. On the other hand, Macedonia’s exports to Iran stood at 13 tons worth $99,529.
As for Kosovo and Montenegro, Iran did not have any commercial exchanges with these two countries during the period under review.
