Iran-SCO 10-month trade tops $37b, up 5.5% in value terms
The trade exchanges between Iran and the Shanghai Cooperation Organization (SCO)’s member states in the first 10 months of the current Iranian year (started March 21, 2023) topped $37 billion.
Iran-SCO trade for 10 months to January 22, 2024 registered a 41 percent growth in volume, and a 5.5 percent growth in value compared to the same period last year, added the spokesman of Iran’s House of Industry, Mine and Trade for Trade Promotion and International Affairs Commission, IRNA reported.
Rouhollah Latifi said more than 64 million tons of non-oil goods, valued at over $37 billion, were exchanged between Iran and 11 member states of the organization during the 10-month period.
According to the official, Iran exported 54.5 million tons of non-oil goods, valued at $18 billion, to the member states of the SCO, showing a one percent hike in value and 48.2 percent hike in volume compared to last year’s corresponding period.
In this period, Iran imported 9.7 million tons of goods, valued at more than $19 billion, from SCO member countries, indicating a 17.9 and a 10.5 percent growth in volume and value terms, respectively, compared to last year’s corresponding period, the spokesperson added.
He went on to say that Iran exported $11.5 billion, $1.8 billion, $1.7 billion, $1.5 billion, and $760.4 million worth of products to China, India, Pakistan, Afghanistan and Russia, respectively.
The SCO, which has its headquarters in China, is the world’s largest regional organization in terms of area and population.
It has nine member states, namely, Iran, China, Russia, India, Pakistan, Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan.
In July 2023, the Shanghai Cooperation Organization officially approved Iran’s full-fledged membership in the organization.