BAKU, Azerbaijan, December 5. The value of non-oil trade between Iran and Azerbaijan dropped by 17.1 percent to approximately $402 million in the first eight months of the current Iranian year (March 21 through November 21, 2023), compared to the same period last year, Trend reports.
The volume of trade increased by 0.9 percent to 522,000 tons in the same period compared to the previous year, according to the latest data from the Islamic Republic of Iran Customs Administration (IRICA).
The non-oil trade between the two countries was worth around $485 million, weighing 517,000 tons in the seven previous Iranian years (March 21 through October 22, 2022).
Over the course of eight months, the main items traded were rubber materials, agricultural and food products, petrochemical products, industrial products, equipment, etc.
In the 8th month alone (October 23 through November 21, 2023), the two countries traded 61,000 tons of non-oil goods worth $68.1 million.
Meanwhile, Iran’s total non-oil trade with the world for the first eight months of this year was $74.1 billion, involving about 115 million tons of goods. This was an increase of 7.2 percent in value and 22.6 percent in volume compared to the same period last year.
Overall, Iran and Azerbaijan traded more than 784,000 tons of non-oil goods worth $688 million in 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 year before (March 21, 2021 through March 20, 2022).
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