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Asian countries - main destination of Iran’s non-oil exports

Business Materials 21 December 2017 14:06 (UTC +04:00)

Baku, Azerbaijan, Dec. 21‎

By Fatih Karimov – Trend:‎

Asian countries remain the main destination of Iran's non-oil exports (including gas condensates), despite the fact that two years have passed since the removal of the international sanctions against the Islamic Republic.

Under the sanctions, the Islamic Republic shifted its trade eastward, and expanded economic ties with countries such as China and ‎India.‎

The latest data released by Trade Promotion Organization of Iran (TPOI)‎, shows that over 65 percent of Iran's export was targeted to five Asian countries, including China, Iraq, the UAE, South Korea and Afghanistan during the first eight months of the current fiscal year (started March 20).

China, Iran’s traditional trade partner from the sanctions period, has maintained its position as the Islamic Republic’s top trade partner in the period.

Over 20 percent of Iran’s non-oil exports went to China in the first eight months of the current fiscal year‎ (March 20-Nov. 22). During the period, Iran exported $5.748 billion worth of goods to China, 14 percent more, compared to the same period of the preceding year.

Iran also exported $4.351 billion worth of goods to Iraq, which marked 15.3 percent of Iran's total exports’ value. Iran’s exports to Iraq registered a rise by 7 percent.

The UAE ($3.893 billion), South Korea (with $2.747 billion), Afghanistan ($1.849 billion), India ($1.782 billion), Turkey ($1.412 billion), Pakistan ($544 million), Thailand ($383 million), Oman ($368 million), Indonesia ($361 million), Taiwan ($335 million), Turkmenistan ($294 million), Azerbaijan ($292 million) and Japan($286 million) were the other top importers of Iranian goods.

The exports to Turkey, which was fourth target of Iran’s non-oil exports last fiscal year, had registered a huge fall by 46 percent.

The country’s exports to the UAE, Japan and Oman also registered fall of 19, 62 and 11 percent. Iran’s exports to India and Turkmenistan also witnessed a fall by 6 and 17 percent, respectively in terms of value, year on year.

Meanwhile, exports to Indonesia and Thailand witnessed rise by 293 and 85 percent, respectively.

Iran’s exports to South Korea and Afghanistan had also increased by 28 percent and 12 percent, respectively.

Two European countries, Italy and Germany were the only European countries, which took place among the top 20 destinations of Iran’s non-oil exports.

Germany imported $202 million worth of goods from Iran in the 8-month period and stood at 19th place, meanwhile Italy ranked 17th with $249 million worth of imports.

Iran’s exports to Germany witnessed a rise by 13 percent in terms of value, however Italy’s imports from the Islamic Republic decreased by 32 percent.

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