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Iran observes growth in non-oil exports to Saudi Arabia

Business Materials 9 January 2023 10:35 (UTC +04:00)
Iran observes growth in non-oil exports to Saudi Arabia
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, January 9. There is an increase observed in Iran's non-oil exports to Saudi Arabia in the context of negotiations on the normalization of ties between the two countries, a member of the international and foreign trade committee of the House of Industry, Mine and Trade of Iran Rouhollah Latifi said, Trend reports.

According to Latifi, negotiations on the normalization of relations between Iran and Saudi Arabia mediated by Iraq had a positive effect on the economic ties of the two countries.

He added that Iran's export of non-oil products to Saudi Arabia amounted to approximately 30,800 tons worth $14.7 million from the beginning of the current Iranian year (March 21, 2022) to January 1, 2023.

“Meanwhile, in the same period last Iranian year, the value of Iran's non-oil exports to Saudi Arabia was $42,000,” the official said.

Latifi also pointed out that during the first eight months (March 21 through November 21, 2022), Iran exported non-oil products worth $377,000 to Saudi Arabia. However, the value of the exports reached worth more than $14.3 million dollars during the next 40 days (November 22 through December 31, 2022).

The official noted that from March 21, 2022 through December 31, 2022, Iran exported a total of 30,000 tons of steel ingots worth $14.2 million, sodium hydroxide worth $185,000, 86 tons of truck bodies worth $155,000, 60 tons of grapes worth $126,000, as well as 265 tons of glass materials worth $33,000 and 25 tons of marble stones worth $3,730.

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