August 16, 2022

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Non-oil trade with neighbors up 18% in Q1

TEHRAN- The value of Iran’s non-oil trade with its neighboring countries increased 18 percent in the first three months of the current Iranian calendar year (March 21-June 21), as compared to the same period of time in the past year, the spokesman of Islamic Republic of Iran Customs Administration (IRICA) announced.

Ruhollah Latifi put Iran’s non-oil trade with its neighbors at 20.973 million tons worth $12.363 billion in the three-month period.

He said trade with the neighbors accounted for 49 percent of the value and 59 percent of the weight of Iran’s non-oil trade during the first quarter.

The country exported 16.05 million tons of non-oil goods worth $6.736 billion to the neighboring countries in the three-month period of this year, indicating 20 percent rise in value, while 10 percent drop in weight, as compared to the same time span of the previous year, the official stated.

He named Iraq, Turkey, United Arab Emirates (UAE), Afghanistan, and Oman as the five top export destinations.

Latifi further announced that Iran imported 4.433 million tons of goods worth $5.627 billion from its neighbors in the said three-month of this year, with 15 percent growth in value and one percent rise in weight year on year.

He named UAE, Turkey, Russia, Pakistan, and Oman as the five top sources of imports.

As previously announced by the IRICA head, the value of Iran’s non-oil trade with its neighbors during the previous Iranian calendar year 1400 (ended on March 20) stood at $51.875 billion to register a 43 percent increase year on year.

Alireza Moghadasi put the weight of non-oil trade with the neighboring countries at 100.131 million tons in the said year, stating that trade with the neighbors also increased by 23 percent in terms of weight.

The official put the annual non-oil exports to the mentioned countries at 75.445 million tons valued at $26.29 billion, with a 29 percent rise in value and a 12 percent growth in weight.

Major export destinations of the Iranian non-oil goods were Iraq with $8.9 billion, Turkey with $6.1 billion, the United Arab Emirates with $4.9 billion, Afghanistan with $1.8 billion, and Pakistan with $1.3 billion in imports from the Islamic Republic, followed by Oman, Russia, Azerbaijan, Turkmenistan, Armenia, Kazakhstan, Kuwait, Qatar, Bahrain, and Saudi Arabia, according to the official.

Moghadasi further stated that Iran imported 24.686 million tons of non-oil commodities worth over $25.846 billion in the previous year, with a 60-percent growth in value and a 68-percent rise in weight year on year.

The United Arab Emirates was the top exporter to Iran in the said period exporting $16.5 billion worth of goods to the country, followed by Turkey, Russia, Iraq, and Oman, he stated.

Pakistan, Kazakhstan, Azerbaijan, Turkmenistan, Afghanistan, Armenia, Kuwait, Qatar, and Bahrain were other top neighboring countries that supplied goods to Iran in 1400, respectively.

Increasing non-oil exports to the neighboring countries is one of the major plans that the Iranian government has been pursuing in recent years.

Iran shares land or water borders with 15 countries namely UAE, Afghanistan, Armenia, Azerbaijan, Bahrain, Iraq, Kuwait, Kazakhstan, Oman, Pakistan, Qatar, Russia, Turkey, Turkmenistan, and Saudi Arabia.

MA/MA

Original News : https://www.tehrantimes.com/news/474478/Non-oil-trade-with-neighbors-up-18-in-Q1

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