Iran-Russia trade plunges

Business Materials 6 May 2015 17:32 (UTC +04:00)

Baku, Azerbaijan, May 6

By Umid Niayesh - Trend:

Iran-Russia trade turnover witnessed a significant fall during the last Iranian calendar month (March 21 to April 21). Russia exported 52,200 metric tons of goods worth $21.7 million to Iran during the period, according to the Iran Custom Administration's latest monthly reported released May 5.

Russia exports to Iran registered fall by 31.3 percent and 21.12 percent in terms of value and volume respectively compared to the same period of last year.

The Islamic Republic also exported 51,649 metric tons of none-oil goods, worth $16.9 million to Russia in the one-month period. Iran's exports to Russia witnessed a fall by 40 percent in terms of volume and 25.3 percent in terms of value year on year.

Iran-Russia trade turnover was about $2.3 billion in pre-sanction period. The Islamic Republic imported $1.76 billion worth of goods from Moscow in 2011, meanwhile the country's exports to Russia accounted for about $500 million.

According to the Iranian Customs Administration, Tehran exported $296 million worth of non-oil goods to Russia last fiscal year (ended on March 20). Iran's imports from Russia stood at $667 million in the same period.

The Islamic Republic's non-oil exports (excluding condensates) stood at $2.209 billion during last Iranian calendar month (March 21-April 20), while imports accounted for $1.971 billion.

Edited by CN

Follow the author on Twitter: @UmidNiayesh