Iran-Eurasia Bilateral Trade Hits $2.4b in 8 Months
IRAN NEWS ECONOMIC DESK
TEHRAN – The total value of bilateral trade between Iran and the member states of the Eurasian Economic Union (EAEU) has stood at $2.4b in eight months since both sides implemented their preferential agreement.
Spokesman for the Islamic Republic of Iran Customs Administration [IRICA] Mr. Seyed Ruhollah Lotfi said that since October 27, 2019 when the preferential trade agreement between Iran and Eurasia came into effect, the trade between Iran with the bloc has hit $2.4b in eight months in terms of value and 6.8m tons in weight.
He noted that the figure has been registered while the country and the region have been challenging with the Coronavirus pandemic since March.
Latifi said that since the major basic goods needed by the country are purchased from Eurasian Union member states and the goods are imported through the northern ports, imports account for 72 percent of Iran’s trade with the bloc and exports to the bloc account for 28 percent of the total trade.
He added that the amount of preferential imports from Eurasia was over $1.169b while the total imports stood at $1.73b. By the way, the amount of imports in terms of weight stood at 5.2m tons.
Latifi further said the amount of Iran’s exports to the Eurasian Union states stood at over $681m in eight months and it was over 1.65m tons in terms of weight.
He noted that Russia was the major exporting Eurasian country to Iran as Iran’s imports from Russia account for over 80 percent of its total imports from the bloc which valued at over $1.39b.
Kazakhstan with $287m and Belarus with over $33m were the other major exporting Eurasian countries to Iran. Armenia with over $10m and Kyrgyzstan with $5.6 were the other exporters to Iran.
Latifi also pointed some major goods which were exported by Iran to the Eurasian states, adding that fresh apple was the main exports to the bloc which accounted for Iran’s 14.5 percent of its exports. Pistachio, natural gas, fresh kiwi and dried for are the other goods which top Iran’s exports.
He reiterated that basic goods topped Iran’s imports from those states as the barley accounted for 27 percent of Iran’s imports.
