Iran’s imports from China increase by 40%

Baku, Azerbaijan, Jan. 25

By Umid Niayesh - Trend:

Iran imported about $43.677 billion worth of goods during the first ten months of current Iranian fiscal year (March 21, 2014- Jan. 21), which indicates a rise by 15.44 percent, compared to the same period of the preceding year.

Iran imported some 34.38 million metric tons of goods during that period which is 33.89 percent more compared to the 10-month period of last year, the Iranian Customs Administration said Jan. 24.

Iran purchased 69.28 percent of its total imported goods in the 10-month period from five countries - China, the United Arab Emirates, South Korea, Turkey and India.

The country imported 4.466 million metric tons of goods worth $10.307 billion from China, which makes up 23.6 percent of Iran's total imports' value.

Iran's imports from China witnessed 40 and 29.23 percent rise respectively in terms of value and volume in comparison with the first ten months of last Iranian fiscal year (March 21, 2013- Jan. 21, 2014).

Iran also imported 6.806 million metric tons of goods, worth $10.202 billion from the United Arab Emirates during the period.

The UAE exports to Iran witnessed an increase of 17.31 percent in terms of value. Meanwhile the volume of the Islamic Republic's imports from the UAE registered a 14.64 percent rise year on year.

Iran's imports from the UAE accounts for 23.36 percent of its total imports in terms of value.

South Korea, Turkey and India respectively exported $3.433 billion, $3.17 billion, and $3.146 billion worth of goods to Tehran.

South Korea and Turkey's exports value to Iran have increased by 13.93 percent and 9.51 percent respectively during the period, meanwhile the exports of India to the country indicates a decrease of 4.72 percent compared with the same period of preceding year.

While the volume of exports from South Korea to Iran has fallen by 5.67 percent, India's exports to the Islamic Republic increased by 8.81 percent in terms of volume. The volume of Turkey's exports to Iran has increased by 38.92 percent during the 10-month period.

Iran's non-oil trade turnover (including condensates) surpassed $86.261 billion during the first ten months of current Iranian fiscal year.

Follow the author on Twitter: @UmidNiayesh

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