Iran achieves positive trade balance with west Asia
Date
1/28/2025 7:12:29 AM
(MENAFN) Iran’s trade balance with West Asian countries turned positive during the first nine months of the current Iranian year, according to Abdolamir Rabihavi, the Director General for West Asia at the Trade Promotion Organization (TPO) of Iran. Rabihavi attributed this achievement to significant growth in non-oil exports across the region, with notable increases in trade with countries such as Iraq, the UAE, Turkey, and Saudi Arabia. He emphasized the overall positive trajectory of Iran’s trade performance despite various regional challenges.
Trade figures revealed remarkable growth, with Iran's trade with Iraq rising by 35 percent, Turkey by 59 percent, Kuwait by 31 percent, and Jordan by an impressive 508 percent. Rabihavi highlighted Saudi Arabia’s dramatic increase of 9,795 percent, with trade jumping from $200,000 to $23 million. Other noteworthy growth included Lebanon, where trade rose from $18 million to $23 million, and Bahrain, which saw an increase from $7.0 million to $11 million.
Rabihavi also explained that Iraq’s seasonal import restrictions, aimed at protecting domestic production, have not hindered overall trade growth. Iran’s trade with Iraq reached $9.413 billion in nine months, surpassing the total trade volume for the entire previous year. Similarly, trade with Turkey rose significantly, increasing from $3.271 billion last year to $5.203 billion this year.
The positive trade balance with West Asian countries reflects a 31 percent increase in exports compared to a 21 percent growth in imports. Rabihavi noted that this export-driven trend underscores Iran’s strengthened economic ties in the region and positions the country for further trade expansion.
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