TPO: Non-oil exports to Qatar rise as trade balance turns positive
Iran’s non-oil exports to Qatar rose significantly in the first 10 months of the current Iranian year while imports declined, shifting the bilateral trade balance in Tehran’s favor, a senior official at Trade Promotion Organization of Iran (TPO) said.
Abdolamir Rabihavi, director general of the TPO’s West Asia Office, announced details of trade exchanges between Iran and Qatar for the 10-month period, reporting growth in exports and an improved trade balance.
According to IRNA on Thursday, in the first 10 months of the Iranian calendar year beginning March 21, Iran’s non-oil exports to Qatar increased in both weight and value compared with the same period last year, reaching about 580,000 tons worth more than $122 million.
“Last year during the same period, 432,000 tons of goods worth $113 million were exported to Qatar, which shows that Iran's exports to Qatar have increased by about 34% in weight and about 8% in value,” Rabihavi said.
“Review of exported goods shows that the bulk of Iran's exports still includes agricultural products, foodstuffs, construction materials and some mineral items,” he added. “Items such as eggs, tomatoes, watermelon, industrial powdered milk, flooring, dried fruits, cement, clinker and construction stones have a significant share of the export basket, indicating Iran's role in supplying part of Qatar's import needs.”
Imports from Qatar decline
As for the imports, Rabihavi said, “Iran's imports from Qatar in the first 10 months of the current year have been lower in volume and value compared to exports.”
“Total imports from Qatar in this period are estimated at about 101,000 tons worth approximately $111 million; while this figure was 145,000 tons worth $175 million in the same period last year.”
“Imports from Qatar have decreased by about 30% in weight and about 37% in value,” he noted.
He said imported items have included industrial raw materials, animal and poultry feed, industrial parts and equipment, and chemical materials, indicating that Qatar mostly acts as a re-export hub for certain goods and its share in Iran’s import supply chain is not very high.
Rabihavi said Iran’s trade balance with Qatar in the first 10 months of this year was positive and in Iran’s favor, adding that the surplus is estimated at about $11 million, while in the same period last year the balance was negative at about $62 million to Iran’s detriment.
“The volume of indirect trade between the two countries is conducted through third countries such as the Sultanate of Oman and the United Arab Emirates,” he said. “Goods such as iron and steel billets and bitumen are transferred through these routes; trade in these items is estimated at about $200 million, which indicates hidden and expandable capacities in trade relations between Tehran and Doha.”