Latest on Iran-South Korea trade

Baku, Azerbaijan, June 12

By Umid Niayesh - Trend:

The South Korea-Iran trade turnover amounted to $4.39 billion in January-May 2018, 17 percent less year-on-year, according to the latest data released by the Korean Customs Service.

The Asian country witnessed a huge negative balance of $1.59 billion in its trade with Iran during the period.

South Korea exported $1.1 billion worth of goods to Iran in the four-month period, which is less by 15 percent compared to the same period of 2017.

Meanwhile, the country’s imports from Iran hit $2.99 billion in the same span of time, indicating a fall by 17 percent compared to January-May 2017.

Iran-South Korea trade in 2017-2018 (1,000 USD)

Month

2018

2017

Export change %

Import change %

Export

Import

Trade balance

Export

Import

Trade balance

1

311,490

522,242

-210,752

327,842

785,219

-457,377

-5

-33

2

239,303

638,198

-398,895

296,578

740,799

-444,221

-19

-14

3

311,262

748,783

-437,521

301,688

1,023,745

-722,057

3

-27

4

238,221

664,290

-426,069

371,711

610,414

-238,703

-36

9

5

299,931

416,857

-116,926

370,263

450,133

-79,870

-19

-7

Total

1,400,207

2,990,370

-1,590,163

1,668,082

3,610,310

-1,942,228

-16

-17

The trade fall between the two countries comes after a huge rise in 2017. The Iran-South Korea trade volume hit $12 billion last year, witnessing a rise by 43.6 percent compared to 2016.

Iran-South Korea trade in 2016-2017 (1,000 USD)

2017

2016

Growth rate %

Export

Import

Export

Import

Export

Import

Total

4,021,060

7,989,300

3,716,566

4,647,659

92.43

58.17

South Korea imported $7.99 billion worth of commodities, including oil, from Iran in January-December 2017, which is more by 58 percent compared to the same period of 2016.

The country also exported $4 billion worth of goods to the Islamic Republic in the 12-month period, registering a 92 percent rise compared to 2016.

Subscribe to Trend in Google News! Subscribe
EIB to help reduce COVID-19 effects on Georgian SMEs
EIB to help reduce COVID-19 effects on Georgian SMEs
Georgia and Ukraine sign protocol on economic cooperation
Georgia and Ukraine sign protocol on economic cooperation
Georgia records surge in tourist visits from Uzbekistan
Georgia records surge in tourist visits from Uzbekistan
Loading Bars
Latest
Arayik Harutyunyan's visit to Russia is solely private - embassy of Azerbaijan
NATO not ready for equal dialogue with Moscow - Russian defence chief
Saudi-led coalition says destroys Houthi vessels, bomb-laden boats site
Kazakhstan updates forecast for completion of grain harvesting
IRENEX shares data on sales of Sepahan Oil Company in energy exchange
EIB to help reduce COVID-19 effects on Georgian SMEs
Moscow comments on reports about holding Russia-Armenia-Azerbaijan summit on Nov.2021
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,315 more COVID-19 cases, 981 recoveries
Azerbaijani First VP Mehriban Aliyeva shares post related to her trip with President Ilham Aliyev to Zangilan (VIDEO)
Turkmenistan to participate in EXPO-2025
Georgia and Ukraine sign protocol on economic cooperation
Weekly review of key events in Azerbaijan's ICT sector
Azerbaijan's liberated lands to contribute to expansion of TRACECA corridor - minister
Weekly review of main events in Azerbaijan's transport sector
Saudi Arabia targets net zero emissions by 2060
Russia registers an all-time high of 37,678 coronavirus cases in past day
Uzbekistan eyes foreign technology for better local polymer production
Turkmen delegation to pay working visit to Iran
Azerbaijan records growth in loan portfolio of local banks in 9M2021
Turkmenistan’s Turkmenbashi refinery eyes producing hydrogen
Azerbaijan, Singapore to co-op in construction of geostationary satellites
IRICA shares data on Iran's trade turnover with SCO member states
Iran sees increase in exports of non-oil products from Hormozgan Province
Weekly review of Azerbaijani precious metals market
Kazakhstan unveils trade indicators with its TOP-3 EU partners
Turkmenistan approves new procedure for allocating investments from Stabilization Fund
Azerbaijani MoD observes exercises in liberated Lachin district (VIDEO)
Russian Health Ministry greenlights joint COVID-19 and flu vaccination
Central Bank discloses volume of loans issued to Azerbaijan's districts
Georgia records surge in tourist visits from Uzbekistan
Tourist inflow from Kazakhstan to Georgia soars
Iran boosts exports through customs of Zanjan Province
Azerbaijan notes decrease in banking sector' profit
Azerbaijan sees rise in mortgage lending
Iranian currency rates for October 23
Weekly review of Azerbaijani currency market
Georgia releases data on COVID-19 cases for October 23
New customs post in Azerbaijan to speed up cargo movement along North-South corridor (PHOTO)
Azerbaijan, Armenia to sign new documents in Moscow
Azerbaijani oil prices increase
Georgia sees decrease in tourist inflow from Azerbaijan
Turkmen company to purchase material, technical resources via tender
Kazakh energy company opens tender to buy metal corners
Kazakh oil company opens tender to buy spares
Kazakh KazMunayTeniz opens tender for Caterpillar equipment maintenance
Azerbaijan's Central Bank unveils data on currency exchange operations for Jan. through Sept. 2021
Azerbaijani fund presents concept for restoration of liberated territories
EDB purchases bonds of Kazakh KEGOC JSC
US corporate workers to start returning to offices next month
Iran changes pricing of petrochemical products at its mercantile exchange
Iran's foreign exchange needs trigger to expand exports
Surge of energy prices puts Europeans in stalemate (VIDEO)
Chinese company opens massive eco-friendly mine in Serbia
Kazakhstan’s daily COVID-19 case count stands at 1,732
Georgian honey exports skyrocket, following COVID-ravaged year
Iranian envoy, head of Georgia's State Security Service meet
Turkey announces commissioning date for logistics center in Sivas (Exclusive)
US military eliminates one of Al-Qaeda leaders in northwest Syria
Mutation of Delta variant may be more transmissible: UK health agency
Biden, Macron discuss cooperation, to meet in Rome late October
India, UK working on free trade agreement: Harsh Vardhan Shringla at India Global Forum
Turkey reports 28,192 daily COVID-19 cases
G7 countries reach breakthrough on digital trade and data
India perhaps only G20 country to fulfil...: India ahead of COP26 climate summit
U.N. plane aborts landing as air strike hits Ethiopia's Tigray
Relations with India stronger than ever, says Maldives Defence Minister
Chronicles of Victory: October 23, 2020
Iranian delegation leaves for Tashkent to observe elections
UK PM Johnson says fresh COVID lockdown not on the cards
2 soldiers, terrorist killed in northwestern Pakistan's clash
Pfizer/BioNTech COVID-19 vaccine shows 90.7% efficacy in trial in children
Belarus, Kazakhstan discuss joint efforts to maintain regional security
Georgia, Turkey to set up joint air force plant
TURKIC.World project presented at media forum of Turkic Council (PHOTO)
Iran boosts transit via TRACECA corridor
French court annuls "treaty" with illegal Armenian regime in Azerbaijan's Karabakh
Azerbaijan's MoD inspects combat positions in liberated Kalbajar, Lachin districts (PHOTO)
Uzbekistan Airways opens tender related to local fire alarm system
Iran looks to enhance road development in Ardabil province
Main countries of origin for tourists arriving in Georgia
Spanish Gedepsa interested in growing olive plantations in Uzbekistan
Azerbaijan reveals number of mines, munitions found on its liberated lands (PHOTO)
Overview of Uzbekistan's retail trade turnover dynamics between 2010-2020
When Karabakh road infrastructure to be fully ready?
Armenians propagate Nazi Nzhdeh and accuse Azerbaijan of racism (VIDEO)
Relations With India Stronger Than Ever, Says Maldives Defence Minister
Bennett-Putin meeting lasted five hours, was warm and positive
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,112 more COVID-19 cases, 882 recoveries
Australia says EU has postponed free trade talks for second time
Azerbaijan’s volume of non-cash payments continues to grow
Delta Galil files for Nasdaq offering
Azerbaijan's investment attractiveness increased after liberation of its lands - minister (PHOTO)
Turkmenistan reduces wheat imports from EAEU states
Azerbaijan’s wheat imports from EAEU countries revealed
Belarusian company to supply Azerbaijan with cables
Azerbaijan sees growth in its population's bank deposits
Azerbaijan commissions recently built military facilities in its liberated lands (PHOTO/VIDEO)
Non-tourist trips to Georgia plummet
All news