Baku, Azerbaijan, Feb. 20
By Gazenfer Hamidov – Trend:
The Islamic Republic’s official statistics indicate that Iran’s non-oil exports to Azerbaijan has witnessed significant fall during the current fiscal year (started March 20, 2017).
Iran exported 517,000 tons of goods to Azerbaijan, worth $245 million during the first 10 months of the current fiscal year(March 20-Jan. 21), according to the data released by the country’s Trade Promotion Organization (TPOI).
Iran’s exports to Azerbaijan registered a fall by 23 percent in terms of value year-on-year.
Meanwhile the volume of the exports witnessed a fall by 47 percent in the same span of time.
Iran’s exports to Azerbaijan accounted to 0.7 percent of the Islamic Republic’s overall non-oil exports in terms of value during the 10-month period.
The latest data released by Tehran Chamber of Commerce, indicates that Iran has imported 47,000 tons of goods, worth $16.1 million from Azerbaijan during the first eight months of the current fiscal year.
Iran’s export to Azerbaijan in last fiscal year (March 2016-2017)
|
Export value (million USD) |
Export volume (1000 tons) |
Price ($/kg) |
value growth (%) |
volume growth (%) |
Price growth (%) |
|
358.57 |
1,049 |
0.34 |
54.7 |
100 |
-22.7 |
Iran’s imports from Azerbaijan in last fiscal year (March 2016-2017)
|
Import value (million USD) |
Import volume (1000 tons) |
Price ($1/kg) |
value growth (%) |
volume growth (%) |
Price growth (%) |
|
46.8 |
151 |
0.31 |
199.9 |
297.2 |
-24.5 |
Azerbaijan exports to Iran were in decline in recent years after experiencing the record high figure of $322 million in Iranian fiscal year, which falls to 2007-2008.
The value reached the lowest level under the sanctions in 2014 to 2016, experiencing $15 million, but then sharply revived to $46.8 million after removal of the sanctions in 2016, registering a growth by some 200 percent.
Iran’s exports to Azerbaijan reached to highest level in the fiscal year to March 2013, when accounted to $493 million. But it sharply decreased in the two years of the sanctions against Tehran and reached the lowest level in the fiscal year to March 2016, standing at $231.8 million.
The figure revived by 55 percent (to $358 million) next year, when the Iranian economy was free of international sanctions.