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Iran-Azerbaijan trade grows in volume, shrinks in value

Business Materials 8 June 2023 11:22 (UTC +04:00)
Iran-Azerbaijan trade grows in volume, shrinks in value
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, June 8. Iran's non-oil trade turnover with Azerbaijan amounted to about 129,000 tons worth approximately $80.3 million, during the first two months of the current Iranian year (March 21 through May 21, 2023), Trend reports.

According to the data of Islamic Republic of Iran Customs Administration (IRICA), the trade turnover between the two countries for the reporting period decreased by 34.3 percent in value, while increasing by 2.3 percent in volume compared to the same period in the last Iranian year.

So, the non-oil trade turnover between the two countries stood at 126,000 tons worth over $122 million in the same period in the last year.

The main goods traded between the two countries for the reporting period were rubber materials, agricultural and food products, petrochemical products, industrial products, equipment and etc.

Alone in the 2nd month of the current Iranian year (April 21 through May 21, 2023), Iran’s trade turnover with Azerbaijan consists of 70,700 tons worth approximately $43.3 million.

In total, Iran's non-oil trade turnover amounted to 25.7 million tons worth approximately $15.5 billion in the first month of the current Iranian year.

Meanwhile, Iran's non-oil trade turnover with Azerbaijan amounted to more than 784,000 tons worth over $688 million for the last Iranian year (March 21, 2022 through March 20, 2023). This is an increase of 13.1 percent in value and 8 percent in volume compared to the preceding year (March 21, 2021 through March 20, 2022).

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