Value of Iran’s non-oil exchange with adjacent nations surge by 16 percent in 5 months
Date
8/28/2024 5:04:07 AM
(MENAFN) The value of Iran's non-oil trade with its neighboring countries rose by 16 percent during the first five months of the current Iranian calendar year (March 20-August 21), reaching USD26.857 billion, according to Mohammad Rezvanifar, head of the Islamic Republic of Iran Customs Administration (IRICA). The total weight of non-oil trade with these neighbors amounted to 43.579 million tons, reflecting a 10 percent increase in trade volume compared to the same period last year.
In detail, Iran exported 34.118 million tons of goods worth USD13.402 billion to its neighboring countries, while it imported 9.461 million tons of commodities valued at USD13.455 billion. This represents an 11 percent increase in export weight and a 19 percent increase in value year-on-year. Imports from neighboring countries saw a 10 percent rise in weight and a 13 percent increase in value during the same period.
Rezvanifar highlighted Iraq, the United Arab Emirates (UAE), Turkey, Pakistan, and Afghanistan as the top importers of Iranian goods among its neighbors. Conversely, the UAE, Turkey, Russia, Oman, and Pakistan were identified as the primary sources of imports for Iran. The Iranian government has been actively pursuing strategies to boost non-oil exports to neighboring countries as part of its broader economic plans.
Iran shares land or maritime borders with 15 countries, including the UAE, Afghanistan, Armenia, Azerbaijan, Bahrain, Iraq, Kuwait, Kazakhstan, Oman, Pakistan, Qatar, Russia, Turkey, Turkmenistan, and Saudi Arabia.
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