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Iran’s exports to Saudi Arabia hit $57M

Business Materials 2 November 2014 12:34 (UTC +04:00)

Tehran, Iran, Nov. 2
By Milad Fashtami - Trend:

Iran exported 182 metric tons of goods worth $57.987 million to Saudi Arabia in the first half of the current Iranian calendar year (March 21 - September 22).

The country also imported 6.4 metric tons of goods worth $15.8 million from Saudi Arabia in the mentioned period, Iran's Jamnews website reported on Nov. 2.

Tehran's trade balance with Riyadh was +$42 billion.

It is while Saudi Arabia earns a huge amount of income from Hajj pilgrims. Annually around 960,000 Iranian pilgrims travel to Saudi Arabia. While considering the amount of money that they spend there, the real trade balance between Tehran and Riyadh is in favor of Saudi Arabia.

According to Iran's Customs Administration, the country's total non-oil trade amounted to $57.214 billion in the first seven months of the current Iranian calendar year.

Iran's non-oil exports accounted for $26.943 billion of the mentioned amount, while imports accounted for $30.271 billion.

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