(MENAFN) The Islamic Republic of Iran Customs Administration (IRICA) has reported a significant increase in Iran’s exports of non-oil commodities over the three years leading up to March 2024. According to IRICA, the export of non-oil commodities surged by 40 percent during this period. Specifically, Iran's non-oil trade experienced a substantial growth, rising from USD74 billion in 2020 to USD116 billion in 2023, which marks a 57 percent increase.

IRICA's detailed report highlights the impressive growth in the weight of non-oil trade, which reached 167 million metric tons (mts) in 2023, up from 147 million mts in 2020, representing a 20 percent increase. Furthermore, the value of non-oil exports in 2023 reached USD49 billion, a notable rise from the USD35 billion recorded in 2020, underscoring a 40 percent increase.

On the import side, Iran's total imports for the previous year amounted to USD66 billion. Among these imports, USD2 billion was allocated for the import of gold bars, and USD2.6 billion was spent on acquiring trucks and truck units, reflecting the country's investment in its transportation infrastructure.

Additionally, Iran's foreign trade with neighboring countries saw a noteworthy increase of 10 percent in 2023, surpassing USD61 billion. This increase in regional trade highlights Iran's strengthening economic ties with its neighboring nations.

The transit of goods through Iran also experienced a significant boost. In 2023, 17.8 million mts of goods were transited through the country, marking a 54 percent increase compared to the previous year. This increase emphasizes Iran's strategic role as a key transit hub in the region.

Earlier this month, Mohammad Shirijian, the deputy governor of the Central Bank of Iran (CBI) for economic affairs, provided additional insights into the country's trade performance. He reported that Iran’s total trade turnover in the previous Iranian calendar year (March 21, 2023, to March 19, 2024) reached USD180 billion, based on the balance of payments. Of this total, Iran exported goods worth USD100 billion, which represents a three percent increase compared to the previous year. Shirijian's remarks, reported by an Iranian news agency’s economy correspondent, further underscore Iran's significant trade activity and economic resilience amid challenging global conditions.

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