Iran’s trade with neighbors rose 14.5% y/y in year to March

Official figures published by the Iranian finance ministry show that trade exchanges between the Islamic Republic and its neighboring countries rose by 14.5% in value terms in the last Iranian calendar year 1401 (March 21, 2022-March 20, 2023) compared to the year before.

The ministry released its figures in a report published on Thursday.

During the year 1401, Iran traded a total of 96,767 metric tons (mt) of goods with all of its 15 neighboring countries namely Iraq, the UAE, Pakistan, Afghanistan, Bahrain, Qatar, Kuwait, Armenia, the Azerbaijan Republic, Russia, Turkiye, Kazakhstan Turkmenistan, Oman and Saudi Arabia in the year to late March. 

That amount of trade was worth $58.843 billion and increased by 14.% year-on-year.

Of the total trade with the neighboring states in the year 1401, non-oil exports of Iran stood at $30.537 billion. That was up by nearly 19.5% compared with the year to late March 2022.

Non-oil shipments exported by Iran to neighbors weighed 75,184 mt, a slight increase (0.1%) compared with the year 1400 when Iran exported 74.622 mt of non-oil goods to its neighbors.

Iraq, Turkiye, the UAE, Afghanistan and Pakistan were respectively the top importers of Iranian goods in 1401.

Figures by the Iranian finance ministry also show that the country’s imports from its neighboring countries had risen by 9.6% in value terms year on year in the year 1401 while shipments fell by 21.6%  in volume terms over the same period.

During that period, the Islamic Republic imported 21.583 million mt of goods worth $28.306 billion from its neighbors.

The UAE, Turkiye, Russia, Pakistan and Oman were the top exporters of goods to Iran over the year to late March. 

News ID 195489

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