Baku, Azerbaijan, March 27
By Gazenfer Hamidov – Trend:
Iran’s non-oil exports to Azerbaijan witnessed sharp fall during the last fiscal year (ended March 20, 2018), according to the Islamic Republic’s official statistics.
Iran exported 562,000 tons of goods to Azerbaijan, worth $273 million during the first 11 months of the last fiscal year (March 20, 2017-Feb. 20, 2018), according to the data released by the Islamic Republic’s Trade Promotion Organization (TPOI).
Iran’s exports to Azerbaijan registered a fall by 19 percent in terms of value year-on-year.
Meanwhile, the volume of the exports witnessed a fall by 43 percent in the same span of time.
Iran’s exports to Azerbaijan accounted to 0.6 percent of the Islamic Republic’s overall non-oil exports in terms of value during the 11-month period.
The latest data released by Tehran Chamber of Commerce, indicates that Iran has imported 56,400 tons of goods, worth $20.53 million from Azerbaijan during the first 11 months of the last fiscal year.
Iran’s export to Azerbaijan in fiscal year of 1395 (March 2016-2017)
|
Export value (million USD) |
Export volume (1000 tons) |
Price ($/kg) |
value growth (%) |
volume growth (%) |
Price growth (%) |
|
358.57 |
1,049 |
0.34 |
54.7 |
100 |
-22.7 |
Iran’s imports from Azerbaijan in fiscal year of 1395 (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.