(MENAFN) According to the spokesperson of Iran's House of Industry, Mining, and Trade's International Relations and Trade Development Committee, Iran's non-oil exports to Pakistan surged by 62 percent in the initial seven months of the current Iranian calendar year (March 21-October 22) compared to the corresponding period last year.
Ruhollah Latifi disclosed that Iran's non-oil product exports to Pakistan amounted to USD1.14 billion during this seven-month timeframe. Additionally, he noted a 39 percent decrease in imports from Pakistan to Iran, totaling USD352.64 million during the same period.
Previously, the official had reported an 18 percent increase in Iran's non-oil exports to Pakistan in the prior Iranian calendar year (ending on March 20).
Highlighting Pakistan as Iran's fifth-largest export market in the previous calendar year, Latifi stated that Iran exported non-oil products worth USD1.488 billion to Pakistan and imported goods valued at USD842 million, marking a substantial 170 percent increase from the previous year.
The extensive economic, security, and transit connections between Iran and Pakistan have elevated their relationship beyond mere neighboring nations, positioning them as strategic partners with shared regional interests. With a border spanning over 900 kilometers, the potential for closer collaboration in transit corridors and bilateral trade between the two countries is considerable.
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