Breaking: Iran’s annual trade with neighbors exceeds $36.5b
TEHRAN – The value of Iran’s non-oil trade with its 15 neighbors reached $36.502 billion in the previous Iranian calendar year (ended on March 20), according to the spokesman of the Islamic Republic of Iran Customs Administration (IRICA).
Iran traded 82.535 million tons of commodities with the neighboring countries in the mentioned year, Rohollah Latifi said.
Last year, the country exported 67.84 million tons of non-oil goods worth $20.357 billion to the neighboring countries, while importing 14.7 million tons of goods worth $16.145 billion.
Iraq was Iran’s top export destination by importing 25.67 million tons of commodities worth $7.448 billion from the Islamic Republic, while the lowest volume of exports was made to Bahrain with only $8.473 million, according to Latifi.
After Iraq, the main export destinations for Iranian products and goods were the United Arab Emirates (UAE), Turkey, and Afghanistan.
On the other hand, the highest volume of Iran’s imports from neighboring countries was made from the UAE with 5.136 million tons of goods worth $9.757 billion, and the lowest volume of imports belonged to Bahrain from which only $946,808 worth of goods were shipped in.
According to the official, despite the difficulties created by the outbreak of coronavirus and the U.S. sanctions in recent years, the volume of foreign trade with neighbors has been acceptable.
Based on the latest customs data, last year, Iran traded a total of 145.7 million tons of goods worth $73 billion with its trade partners, of which 112 million tons worth $34.256 billion were exports and 34.4 million tons worth $38.4 billion were imports.
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.
According to IRICA, Iran currently exports non-oil commodities to 40 European countries, 21 Asian countries, 28 African countries, and 12 American countries, while importing from 41 European countries, 31 Asian countries, 12 American countries, and 11 countries in Africa.