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Iran records decrease in trade turnover with Azerbaijan

Business Materials 18 December 2021 14:14 (UTC +04:00)
Iran records decrease in trade turnover with Azerbaijan

BAKU, Azerbaijan, Dec. 18

By Elnur Baghishov – Trend:

Iran's trade turnover with Azerbaijan decreased by 3 percent in value and 22 percent in volume, during the first eight months of the current Iranian year (March 21 through November 21, 2021), compared to the same period last Iranian year, the Spokesman for the Islamic Republic of Iran Customs Administration (IRICA) Rouhollah Latifi told Trend.

Latifi stressed that Iran's trade turnover with Azerbaijan for the reporting period amounted to about 571,000 tons worth about $365 million. Meanwhile, in the same period last Iranian year, the trade turnover stood at about 733,000 tons worth $376 million.

The customs official added that Iran exported 554,000 tons of goods worth about $336 million to Azerbaijan in 8 months, which is a decrease of 6.9 percent in value and 22 percent in volume, compared to the same period last Iranian year.

“Meanwhile, in the same period last Iranian year, Iran’s exports to Azerbaijan amounted to 713,000 tons worth about $361 million,” he said.

The spokesman noted that Iran's exports to Azerbaijan were mainly food, agricultural products, iron, construction materials and clothing.

According to Latifi, Iran imported 17,000 tons of goods worth $29.1 million from Azerbaijan over 8 months, which is an increase of about 87 percent in value, while a decrease of 13.2 percent in volume, compared to the same period last Iranian year.

“So, Iran’s imports from Azerbaijan for the same period last Iranian year amounted to 19,600 tons worth $15.6 million," he said.

The spokesman emphasized that Iran mainly imported equipment and spare parts, mobile phones, raw silk and compressed soybeans from Azerbaijan within the mentioned period.

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