Iran’s non-oil trade with neighbors up by 21% last year: IRICA
Tehran-Riyadh commerce registered historic 6,483% leap
Iran’s non-oil trade with its 15 neighboring countries surged by 21% in the last Persian calendar year, 1403 (began on March 20, 2024), reaching $74.317 billion. Among these nations, Saudi Arabia recorded the highest growth rate.
Head of the Islamic Republic of Iran Customs Administration (IRICA) Foroud Asgari announced that the total weight of non-oil trade with these countries stood at 112.813 million tons during this period, marking a 16% year-on-year increase, Mehr reported.
“The UAE accounted for the largest share of Iran’s non-oil trade with neighboring states at $29.183 billion, followed by Turkey ($19.363 billion), Iraq ($12.508 billion), Pakistan ($3.129 billion), and Afghanistan ($2.479 billion),” he stated.
Regarding value-based growth, Asgari noted, “In 1403, Iran’s non-oil trade with Saudi Arabia grew by 6,483%, Turkey by 63%, Qatar by 46%, and Afghanistan by 28% compared to the previous year, representing the highest increases among neighboring nations.”
He added, “Trade with Saudi Arabia in 1403 totaled 61,000 tons, valued at $25 million.”
Breaking down the figures, Asgari highlighted that Iran’s non-oil exports to the 15 neighbors amounted to 89.384 million tons worth $36.012 billion, while imports totaled 23.429 million tons valued at $38.305 billion.
“Non-oil exports to these countries rose by 22% in weight and 26% in value year-on-year,” he explained. “Imports, meanwhile, remained stable in weight but increased by 17% in value during the same period.”