Trade exchanges between Iran, OIC member nations surges 14 percent
Date
9/29/2024 8:06:56 AM
(MENAFN) The Islamic Republic of Iran Customs Administration (IRICA) reported that trade exchanges between Iran and the other 56 members of the Organization of Islamic Cooperation (OIC) amounted to USD32.2 billion in the first half of the current Iranian calendar year, spanning from March 20 to September 21. This figure reflects a 14 percent increase compared to the same period last year.
During these six months, the total volume of trade with OIC member states reached 48.8 million tons, marking a four percent rise from the previous year. Iran's exports to these countries included 38.4 million tons of non-oil goods valued at USD15.6 billion, while imports totaled 10.4 million tons of commodities worth USD16.6 billion.
According to the IRICA report, exports to OIC members saw a 10 percent increase in value and a one percent rise in weight. Conversely, imports from these countries also experienced growth, with an 18 percent increase in value and a 16 percent increase in weight during the same period.
In May 2023, the former head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) emphasized the importance of creating a joint Islamic market among OIC members within the next decade to enhance economic cooperation.
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