Baku, Azerbaijan, March 28
By Gazenfer Hamidov – Trend:
Organisation of Islamic Cooperation (OIC) has ranked as the top trade partner of Iran among the international economic organizations over the last fiscal year (ending March 20).
The latest data released by Trade Promotion Organization of Iran (TPOI) indicates that the trade turnover between the Islamic Republic and the OIC reached $29,259 million during the first 11 months of the last fiscal year (March 20, 2017-Feb. 20, 2018).
The figure is 8 percent more compared to the mutual trade in the same period of the preceding fiscal year.
Meanwhile the trade balance between Iran and the OIC was $8.79 million in favor of the Islamic Repubic.
Iran exported 49.139 million tons of non-oil goods, worth $19.03 billion to the OIC countries in the period, 12 and 8 percent less in terms of volume and value, respectively, year-on-year.
Iran’s non-oil exports to various economic regions, based on the TPOI data:
|
Economic organization |
March 20, 2017 - Feb. 20 (million USD) |
March 20, 2016 -Feb. 20, 2017 (million USD) |
Change |
|
OIC |
19,029 |
20,700 |
-8% |
|
ECO |
8,380 |
7,263 |
15% |
|
GCC |
6,613 |
7,562 |
-13% |
|
ASEAN |
1,859 |
1,227 |
52% |
|
CIS |
1,687 |
1,743 |
-3% |
|
EU |
1,338 |
1,446 |
-7% |
Meanwhile the OIC exports to Iran registered a rise by 61 percent during the 11-month period in terms of value and stood at $10.23 billion.
The volume of the exported goods in the period amounted to 5.635 million tons, indicating a rise by 18 percent compared to the first 11 months of the preceding fiscal year.
Iran’s imports from various economic regions, based on the TPOI data:
|
Economic organization |
March 20, 2017 - Feb. 20 (million USD) |
March 20, 2016-Feb. 20,2017 (million USD) |
Change |
|
OIC |
10,230 |
6,356 |
61% |
|
EU |
9,793 |
7,294 |
34% |
|
GCC |
7,259 |
5,243 |
38% |
|
ECO |
3,573 |
3,033 |
18% |
|
ASEAN |
1,878 |
1,399 |
34% |
|
CIS |
936 |
2,390 |
-61% |