Baku, Azerbaijan, March 5
By Umid Niayesh - Trend:
Trade turnover between Iran and Azerbaijan reached $433.8 million during the first eleven months of current Iranian fiscal year (March 21, 2014-Feb. 20), 7.42 percent less compared to the same months of the preceding year.
Iran exported $414.51 million worth of goods to Azerbaijan during the period, which indicates a fall by 6.4 percent year on year, the Iranian Customs Administration said in its latest monthly report.
The Islamic Republic exported some 1.763 million metric tons of goods to Azerbaijan during that period which is 26.9 percent less compared the 11-month period of last year.
Iran also imported some $19.304 million worth of goods from Azerbaijan during the period, 29.5 percent less than the last fiscal year's first eleven months (March 21, 2013 to Feb. 20, 2014).
Iran-Azerbaijan trade balance, stood at $395.2 million in the 11-month period, compared to $415 million in the same period of the preceding year.
The Islamic Republic exported 70,540 metric tons of goods, worth $26.653 million to Azerbaijan during the 11th Iranian calendar month of Bahman (Jan. 20-Feb. 20), which indicates a fall of 55.78 percent in terms of volume and a decline by 15.46 percent in terms of value respectively compared to the same period of last year.
Iran's trade balance with Azerbaijan stood at $450 million in the previous Iranian fiscal year, which ended on March 20, 2014.
Iran Customs administration reported that the country's exports to Azerbaijan surpassed $482 million, meanwhile Tehran imported $32 million worth of goods from Baku in the mentioned period.
The Islamic Republic's non-oil exports (excluding condensates) stood at $32.633 billion, while imports accounted for $48.258 billion in the first 11 months of current fiscal year.
Iran's overall non-oil trade turn over stood at $94.564 billion during the period.
Follow the author on Twitter: @UmidNiayesh