Trade with neighbors tops $38b in seven months: IRICA
Iran’s trade with its 15 neighboring countries totaled about $38.15 billion in the first seven months of the Iranian year that began on March 21, Mehr reported, citing customs data, reflecting the continued central role of regional markets in the country’s foreign trade.
According to figures provided by the Islamic Republic of Iran Customs Administration (IRICA), Iran exchanged 64.88 million tons of goods with nearby states during the period. The combined value was roughly on par with the same period last year, indicating stable trade flows despite ongoing sanctions and international financial constraints.
Officials and analysts note that geographic proximity, shared cultural and logistical ties, lower transport costs and long-standing economic interdependencies have historically made neighboring countries Iran’s largest export destinations.
The data suggests Iran has managed to retain and manage its regional markets even amid external pressures. The country has been under Western sanctions for decades over its nuclear activities.
Eurasian trade
Alongside trade with its direct neighbors, Iran also recorded $2.2 billion in commerce with members of the Eurasian Economic Union (EAEU) over the same seven-month period, involving about 4.9 million tons of goods.
The bloc has grown into an increasingly important trading partner for Iran, particularly following the country’s entry into a free trade agreement with the EAEU in late April.
Iranian officials say expanded cooperation with the union could help diversify Iran’s export markets and improve access to both regional and extra-regional economic corridors.