BAKU, Azerbaijan, February 5. The value of non-oil trade between Iran and Azerbaijan dropped by 7.6 percent to $539 million in the first 10 months of the current Iranian year (March 21, 2023 through January 20, 2024), compared to the same period last year, Trend reports.
However, the volume of non-oil trade rose by 0.42 percent and reached 651,000 tons in the same period compared to the previous year, as was reflected in the latest data from the Islamic Republic of Iran Customs Administration (IRICA).
Meanwhile in the same period last Iranian year (March 21, 2022 through January 20, 2023), the non-oil trade between the two countries was worth over $583 million, weighing about 648,000 tons.
The main goods traded between the countries for the reporting period were rubber materials, agricultural and food products, petrochemical products, industrial products, equipment, etc.
In the 10th month alone (December 22, 2023 through January 20, 2024), the two countries traded 65,700 tons of non-oil goods, valued at $90.1 million.
Meanwhile, in the first 10 months of the current Iranian year (March 21, 2023 through January 20, 2024), Iran’s non-oil trade volume was about 146 million tons, valued at $94.8 billion.
Iran’s non-oil exports exclude only crude oil, mazut, and white oil, which are subject to US sanctions that prevent Iran from exporting them freely. Therefore, Iran has been focusing on increasing its non-oil exports to cope with the economic pressure.
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