Iran's trade With Persian Gulf countries outstrips $35b

Iran traded 58.25 million tons of goods worth $35.11 billion with the Persian Gulf’s six littoral states.

The latest data released by the Islamic Republic of Iran Customs Administration show that Iran traded 58.25 million tons of goods (excluding crude oil exports) worth $35.11 billion with the Persian Gulf’s six littoral states, namely Iraq, Kuwait, Qatar, the UAE, Bahrain and Saudi Arabia, in the fiscal 2022-23, registering a 4.29% fall in terms of weight, but a 10.05% rise in value compared with the previous year’s corresponding period.

The UAE was Iran’s top trade partner among the countries under review with 24.35 million tons (up 3.71%) worth $24.16 billion (up 12.57%). It was followed by Iraq with 27.43 million tons (down 15.81%) worth $10.5 billion (up 3.84%) and Kuwait with 5.41 million tons (up 50.28%) worth $210.34 million (up 21.66%), Financial Tribune reported.

Iran’s non-oil exports to the six countries hit 44.88 million tons worth $16.35 billion during the period, to register a 1.21% decline in terms of weight, but a 15.59% increase in terms of value year-on-year.

The main export destinations were Iraq with 27.23 million tons (down 8.85%) worth $10.23 billion (up 14.82%), the UAE with 11.2 million tons (up 4.15%) worth $5.76 billion (up 17.01%) and Kuwait with 5.4 million tons (up 50.46%) worth $197.83 million (up 25.15%).

News ID 195305

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