Over 65% of Iran’s non-oil exports fall on 5 Asian countries

Business Materials 21 January 2018 14:25 (UTC +04:00)

Baku, Azerbaijan, Jan. 21‎

By Fatih Karimov – Trend:

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 nine 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.

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

Over 20.6 percent of Iran’s non-oil exports went to China in the first nine months of the current fiscal year‎ (March 20-Dec. 21). During the period, Iran exported $6.527 billion worth of goods to China, 13 percent more, compared to the same period of the preceding year.

Iran also exported $4.628 billion worth of goods to Iraq, which marked 14.6 percent of Iran's total exports’ value. Iran’s exports to Iraq was almost at the same level of the last fiscal year.

The UAE ($4.458 billion), South Korea (with $3.011 billion), Afghanistan ($2.004 billion), India ($1.969 billion), Turkey ($1.544 billion), Pakistan ($634 million), Thailand ($437 million), Indonesia ($398 million), Oman ($393 million), Taiwan ($358 million), Turkmenistan ($332 million), Japan($330 million), Vietnam ($299 million) Azerbaijan ($286 million) were the other top importers of Iranian goods.

The value of exports to Turkey, which was fourth target of Iran’s non-oil exports last fiscal year, had registered a huge fall by 43 percent.

The country’s exports to the UAE, Japan and Oman also registered fall of 18, 62 and 12 percent. Iran’s exports to India, Vietnam, Taiwan and Turkmenistan also witnessed a fall by 6, 14, 8 and 17 percent, respectively in terms of value, year on year.

Meanwhile, exports to Indonesia and Thailand witnessed rise by 296 and 87 percent, respectively.

Iran’s exports to South Korea and Afghanistan had also increased by 29 percent and 6 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 $242 million worth of goods from Iran in the 9-month period and stood at 19th place, meanwhile Italy ranked 17th with $284 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 26 percent.

Russia was 20th commodity importer from Iran in the 9-month period. The country exported $201 million worth of goods to Russia, 54 percent more year-on-year.