Iran's non-oil trade balance faces $20.75B deficit in 2014

Business Materials 4 February 2015 13:20 (UTC +04:00)

Baku, Azerbaijan, Feb. 4

By Umid Niayesh - Trend:

Iran's non-oil goods trade balance (excluding gas condensates), faced a $20.743 billion deficit in 2014, said the Islamic Republic Customs Administration in its detailed monthly report published Feb. 4.

The figure indicates an increase by 34.79 percent compared to $15.389 billion deficit in 2013.

Imports shared 61.49 percent of Iran's total non-oil trade during the period, meanwhile the figure stood at 59.92 percent in preceding year.

Iran's trade balance with 96 countries was positive, while with 82 countries it was negative.

Iran had the highest positive trade balance with Iraq ($6.024 billion), Afghanistan ($2.412 billion), Turkmenistan ($753 million), Pakistan ($627 million) and Egypt ($579 million). The five countries shared 79.41 percent of the Islamic Republic's positive trade balance.

The share of the neighboring Iraq stood at 46.02 percent of Iran's total positive non oil trade balance.

Tehran registered the highest negative trade balance with the United Arab Emirates ($9.777 billion), South Korea ($3.985 billion), China ($3.302 billion), Switzerland ($2.152 billion), and Germany ($2.088 billion).

The mentioned five countries shared 62.96 percent of the Islamic Republic's negative trade balance.

Iran's overall non-oil trade turn over stood at $90.297 billion in 2014.

The figure indicates a 16.42 percent rise in comparison with the $77.557 billion trade turn over during 2013.

Follow the author on Twitter: @UmidNiayesh