China shares 24% of Iran’s imports

Business Materials 7 April 2015 19:00 (UTC +04:00)

Baku, Azerbaijan, Apr. 7

By Umid Niayesh - Trend:

Iran purchased 69.72 percent of its total imported goods in the last fiscal year (ended on March 20) from five countries - China, the United Arab Emirates, South Korea, Turkey and India.

The China exports to Iran witnessed an increase of 28.34 percent in terms of value., while the volume of the Islamic Republic's imports from China registered a 18.28 percent rise year on year.

Iran's imports from China accounted for 24 percent of its total imports in terms of value in the 12-month period.

China exported $12.561 billion worth of goods to Iran in the period which made the country main exporter of goods to the Islamic Republic, Iran's Customs Administration said April 7 in its annual report.

The volume of Iran's imports from China stood at 5.362 million metric tons in the period.

Iran also imported 8.148 million metric tons of goods worth $12.164 billion from the UAE, which makes up 23.18 percent of Iran's total imports' value.

Iran's imports from the UAE witnessed 3.233 and 2.53 percent rise respectively in terms of value and volume in comparison with preceding year.

South Korea, Turkey and India respectively exported $4.31 billion, $3.822 billion, and $3.73 billion worth of goods to Tehran in the 12-month period.

South Korea and Turkey's exports value to Iran have increased by 9.31 percent and 5.37 percent respectively during the period, meanwhile the exports of India to the country indicates a fall by 14.15 percent compared with the preceding year.

While the volume of exports from South Korea to Iran has fallen by 1.4 percent, Turkey's exports to the Islamic Republic increased by 29.25 percent in terms of volume. The volume of India's exports to Iran has decreased by 5.35 percent year on year.

Iran imported $52.477 billion worth of goods during the last fiscal year, which indicates a rise by 5.57 percent, compared to the preceding year.

Iran's overall non-oil trade turn over including condensates stood at $102.22 billion during the period.

Follow the author on Twitter: @UmidNiayesh