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Five countries’ exports account for 70.15% of Iran’s total imports

Business Materials 29 October 2014 11:19 (UTC +04:00)

Tehran, Iran, Oct. 29

By Milad Fashtami - Trend:

The United Arab Emirates, China, South Korea, India, and Turkey were the main exporters of goods to Iran in the first seven months of the current Iranian calendar year (March 21 - October 22).

The total exports of these five countries accounted for 70.15 percent of Iran's total imports in the mentioned seven months, Iran's Customs Administration reported.

According to the administration's statistics, the United Arab Emirates was the biggest export of goods to Iran in the mentioned period. The country exported over 5.105 million metric tons of goods worth $7.375 billion to Iran in the seven-month period, which is 47.97 percent more than same period previous year in terms of value.

The figure accounts for 24.26 percent of Iran's total imports in the mentioned time span.

China's exports also accounted for 23.06 percent of Iran' total imports. Beijing exported 3.032 million metric tons of goods worth $6.979 billion to Tehran in the mentioned period, which is 54.29 percent more than same time span last year in terms of value.

Iran imported over 779,000 metric tons of goods worth $2.363 billion from South Korea which is 10.22 percent more than previous year in terms of value. Seoul's exports to Iran accounted for 7.81 percent of Tehran's total imports.

India exported 2.063 million metric tons of goods worth $2.285 billion to Iran, accounting for 7.55 percent of the country's total imports.

Neighboring Turkey also exported 1.973 million metric tons of goods worth $2.233 billion, which accounts for 7.38 percent of Iran's total imports.

The average price of each metric ton of imported goods amounted to $1,322, which is 11.75 percent less than previous year.

Iran's foreign trade amounted to $57.214 billion in the first seven months of the current Iranian calendar year.

Iran's non-oil exports accounted for $26.943 billion of the mentioned amount, while imports accounted for $30.271 billion.

According to Iran Customs Administration, the country's total non-oil exports to foreign countries (excluding gas condensates) stood at $31.332 billion in previous year (which ended on March 20), while the country's total imports amounted to $50.818 billion.

The figures mark annual trade balance of $19.486 billion dollars for Iran.

Iran's annual trade turnover is projected to reach $160 billion by the end of the fifth five-year development plan (March 2016).

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