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Iran’s trade balance 13.2 bln deficit

Business Materials 28 December 2013 13:22

Baku, Azerbaijan, Dec.28

By Umid Niayesh - Trend:

Iran's non-oil goods trade balance (excluding condensate) faced a $13.189 billion deficit for the first eleven months of the current year.

The figure stood at $21.563 billion for the same period of 2012.

According to the Iranian Custom Administration's latest monthly report released in Dec. 28, Iran exported 70.383 million tons of non-oil goods, worth $28.242 billion during the first eleven months of the current year, which indicates a 10.93 percent increase and a 9.84 decrease in terms of volume and value respectively compared to the first eleven months of 2012.

China was the main target of Iran's exported goods during the period.

According to the report, Iran has exported some 29.247 million tons of goods to China, worth $6.2 billion during the period with shares of 41.55 percent and 21.95 percent of the country's total exports in terms of volume and value respectively.

Iran has imported 28.381 million tons of goods worth $41.431 billion for the first eleven months of 2013.

The figures indicate a decrease of 26.5 percent in terms of volume and a 21.66 percent fall in terms of value compared to the same period of last year.

The UAE topped the list of countries exporting goods to Iran for the first eleven months of the current year, with a share of 20.49 percent from Iran's total imported goods value, followed by China (18.51 percent), South Korea (8.65 percent), India (8.15 percent) and Turkey (7.66 percent).

Iran's trade balance with 88 countries was positive, while it was negative with 85 countries during the period.

The highest positive foreign trade balance was with Iraq ($5.556 billion exports and $56 million imports), Afghanistan ($2.35 billion exports and $19 million imports), Turkmenistan ($778 million exports and $100 million imports), Egypt ($496 million exports and $11 million imports) and Azerbaijan ($448 million exports and $22 million imports) during the first eleven months of the current year.

Iraq shared 47.66 percent of Iran's positive trade balance during the first eleven months of the current year.

The highest negative balance was with the UAE ($3.194 billion exports and $8.491 billion imports), South Korea ($357 million exports and $3.585 billion imports), Switzerland ($13 million exports and $ 2.347 billion imports), Germany ($282 million exports and $ 2.26 billion imports) and Turkey ($1.540 billion exports and $ 3.173 billion imports) during the same period.

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