good news iran: Iran’s trade with neighbors records $33b in 8 months

Seyyed Rouhollah Latifi, the IRICA spokesman said on Saturday that of 110,284,000 tons of trade of Iran valued at $63.132 b in the first 8 months of the Iranian calendar year 1400 (March 21, Nov 21, 2021), 68 m tons that is worth $33 b has been the share of trade with neighboring countries which accounts for 62% in weight and 52% in value of the total trade of the country in that period.

Latifi also said that 68 m tons of trade valued at $33b with 15 neighboring countries were recorded in the first 8 months of the Iranian year 1400 that showing a hike of 19% in weight and 45% growth in value.

Latifi put the total volume of exports at 83,740,000 tons worth $31.1 b in the first 8 months, 52,390,000 tons of which valued at $16.664 b have been exported to 15 neighboring countries that account for 62% and 53% of the total exports of the country in weight and value, respectively, adding, in comparison to the corresponding period last year the weight increased 11% and the value increased 44%.

The spokesman said that the major destinations for Iranian exports were Iraq which witnessed an increase of 13% (21,636,000 tons of goods valued at $6.133 b), Turkey in second place with 128% (11,351,000 tons valued at $3.768 b,) followed by UAE with 5% increase (7,289,000 tons worth $2,935 b,), Afghanistan that saw a decrease of 16% (3,057,000 tons valued at $1.271 b), and finally the exports to Pakistan grew by 28% (1,866,000 tons valued at $764m).

Latifi further said Iran’s exports to Russia witnessed 28% growth (697,000 tons valued at %370 m), Oman saw 58% growth (1,243,000 tons valued at $363 m,) Azerbaijan with a decrease of 7% (554,000 tons valued at $336 m), Armenia with 10% increase (787,000 tons valued at $211m,) Turkmenistan with 168% hike (895,000 tons valued at $20 m,) Kazakhstan with 23% growth(312,000 tons valued at $113 m,) Qatar with 2% decrease (784,000 tons valued at $97 m,) Kwait with 6% decrease (1,912,000 tons valued at $91 m,)  and at the bottom of the list there come Bahrain with 7,600 tons value at $5 m and Saudi Arabia with 428,000 tons valued at $41,000 were other destinations for Iranian exports.

He underscored that petrochemical products, liquid gas and oil derivations constitute 50% of the total volume and 40% of the total value of Iran’s exports to the neighboring countries, adding, the other 50% of the volume and 60% of value were attributed to food and agriculture products, industrial products, construction material and minerals.

Of total imports to Iran with 26,540,000 tons valued at $32.032 b during in the first 8 months of the Iranian calendar year 1400, 15,634,000 tons of goods valued at $16.302 m were imported from neighboring countries that account for 51% of the total weight and 59% of the total value of the imports, adding, the numbers recorded 62% jump in volume and 75% hike in value in comparison to the corresponding period of the last Iranian year 1399 (March 21, Nov 21, 2020).

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