Iran Says Trade With Neighbors Hits $20 Billion In 4-Month Period
Iran’s trade with its 15 neighboring states in the first four months of the current Iranian calendar year (March 21 to July 22, 2024) reached $20 billion, showing a six percent growth compared to the same period last year.
The president of the Islamic Republic of Iran Customs Administration (IRICA) announced this, putting the volume of the trade exchanges between Iran and the neighbors at 34.196 million tons, registering a 5% rise compared to last year’s corresponding period.
Of Iran’s total trade with its neighbors, 26.081 million tons, valued at $10.642 billion, were the exports, Mohammad Rezvanifar said, adding that 7.215 million tons of products, valued at $9.179 billion, were also imported from neighboring countries.
The deputy minister of economy pointed out that Iran’s export of non-oil products to the 15 neighboring countries registered a 16 and 6 percent growth in value and weight, respectively, IRNA reported.
According to him, the non-oil products imported into the country from the 15 neighbors increased by 1% in weight and decreased by 4 percent in value.
The country’s trade balance with the 15 neighboring countries stood at +$1.5 billion, oil excluded, Rezvanifar added.
The United Arab Emirates, Turkey and Iraq were Iran’s main trade partners in this period respectively.
Like what you read?
Please consider supporting Eurasia Review. Thank you for your consideration!
