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Iran’s exports to Azerbaijan fall by 66%

Business Materials 31 May 2015 19:12 (UTC +04:00)

Baku, Azerbaijan, May 31

By Umid Niayesh - Trend:

Iran's exports to Azerbaijan continue to fall in the second month of Iran's current fiscal year which started on March 21.

The Islamic Republic exported $28.314 million worth of goods to Azerbaijan during the second Iranian calendar month from April 21 to May 22.

The figure indicates a fall by 66 percent compared to the same period last year, the Iranian Customs Administration said in its latest monthly report released May 30.

Iran's exports to Azerbaijan during the first two months of current fiscal year(March 21-May 22) accounted for $48.66 million, 46.5 percent less year on year.

Iran also imported some $2.82 million worth of goods from Azerbaijan during the second calendar month, 115 percent more year on year.

The country's total imports from Baku during the two-month period stood at $3.73 million, 105.5 percent less compared to the first two months of last fiscal year(March 21-May 22, 2014).

Trade turnover between Iran and Azerbaijan reached $457.6 million during the last Iranian fiscal year (ended on March 20), 12.3 percent less compared to the preceding year.

Iran exported $435.4 million worth of goods to Azerbaijan during the period, which indicates a fall by 9.7 percent year on year.

The Islamic Republic also imported some $22.22 million worth of goods from Azerbaijan during the last fiscal year, 44 percent less y/y.

Tehran's non-oil exports (excluding condensates) stood at $5.393 billion during first two months of current Iranian fiscal year, while imports accounted for $6.344 billion.

Follow the author on Twitter: @UmidNiayesh

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