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Iran's sees increase in trade turnover with neighboring countries

Business Materials 11 February 2022 14:04 (UTC +04:00)
Iran's sees increase in trade turnover with neighboring countries

TEHRAN, Iran, Feb.11

Trend:

Iran's trade with neighboring countries has increased in the current Iranian year (started March 21, 2021) reaching 81.3 million tons valued at $40.9 billion, said the deputy minister of economy Alireza Moghadasi, Trend reports citing Fars News Agency.

"Iran's trade with 15 neighbor countries had 17 percent increase in weight and 40 percent increase of value compared to the last Iranian year (started March 20, 2020)," he said.

Iran exported 61.6 million tons of goods valued at $20.5 billion to 15 neighbor countries in the current Iranian year indicating a 61 percent increase in export's weight and 53 percent rise in value.

The top five export destinations for Iran's export were Iraq ($8.2 billion), Turkey ($4.5 billion), the UAE ($3.8 billion), Afghanistan ($1.5 billion), and Pakistan ($1.8 billion).

Other neighboring countries such as Oman ($564 million), Russia ($486 million), Azerbaijan ($438 million), Turkmenistan ($267 million), Kazakhstan ($150 million), Kuwait ($125 million), Qatar ($117 million), Bahrain ($7 million) and Saudi Arabia ($41,000) stood on lower ranks in buying Iran's products.

Iran has imported 19.6 million tons of goods valued at $20.3 billion from its neighbor countries, the figure shows a 59 percent increase in weight and 63 percent rise in value.

Iran's top five sources of import were the UAE ($13 billion), Turkey($4.2 billion), Russia ($1.3 billion), Iraq ($920 million) and Oman ($453 million).

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