Iran’s annual trade with BRICS rises by 14% to $38.4b

According to the latest data released by the Islamic Republic of Iran Customs Administration, which excludes crude oil exports, Iran’s trade with BRICS member states, namely Brazil, Russia, India, China and South Africa, reached 47.99 million tons worth $38.43 billion in fiscal 2022-23, registering a 0.81% and 14% rise in terms of weight and value respectively.

China was Iran’s main trade partner among BRICS members with 35.55 million tons (up 8.71%) worth $30.32 billion (up 37.41%) of exchanges. India came next with 7.3 million tons (down 9.38%) worth $4.99 billion (up 46.92%). It was followed by Russia with 4.04 million tons (down 17.81%) worth $2.32 billion (up 3.59%), Brazil with 483,486 tons (down 64.44%) worth $466.55 million (down 36.76%) and South Africa with 608,491 tons (up 9.72%) worth $322.04 million (up 23.52), Finacial Tribune reported.

Iran’s exports stood at 38.73 million tons worth $17.85 billion, registering a 2.43% and 4.02% increase in terms of weight and value respectively.

MNA/PR