Iran's non-oil exports to neighboring countries surge by 15 percent in 2 months
(MENAFN) Official data from Iran's trade exchanges reveal a significant uptick in the export of non-oil products to neighboring countries during the initial two months of the current Persian year. The Islamic Republic of Iran Customs Administration (IRICA) reported that trade with 15 neighboring nations from March 20 to May 21 amounted to over USD9.2 billion, marking a notable 15 percent increase compared to the corresponding period last year.
Iran's exports to these neighboring countries reached USD4.9 billion, representing a robust 25 percent growth compared to the same period in the previous year. Conversely, imports from neighboring states totaled USD4.3 billion during the same timeframe.
Among the neighboring countries, Saudi Arabia, Bahrain, Kuwait, and Oman witnessed the most substantial rise in Iran's exports, underscoring expanding trade relations with key regional partners.
Overall, Iran's non-oil trade soared to USD54.6 billion in the initial two months of the current Iranian calendar year, reflecting the nation's continued efforts to diversify its economy and strengthen trade ties with neighboring nations.
These encouraging trade figures signal a positive trajectory for Iran's economic recovery and underscore the importance of regional partnerships in fostering economic growth and stability. As Iran continues to navigate global economic challenges, bolstering trade relations with neighboring countries remains a cornerstone of its economic strategy.
MENAFN04062024000045015839ID1108294710
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.