TEHRAN (Iran News) – The latest report released by Tehran Chamber of Commerce, Industry, Mine and Agriculture (TCCIMA), Iran’s trade with Eurasian Economic Union (EAEU) states has been valued at $1.9b in 11 months of the current Iranian calendar year which accounts for 3 percent of Iran’s total trade value and it is 9.4 percent lower than the same period last year.

The TCCIMA report claims that 2.4m tons of goods, excluding crude oil, worth $933m have been exported to the EAEU member states in 11 months this year which indicates a 17 percent and 4 percent decline compared to the same period in terms of weight and value.

As per the report, Iran’s imports from those countries in the mentioned period have been around 2.9m tons and valued at $1b (3 percent of the total value of the imported goods) and the figure shows one percent rise in terms of weight and 14 percent decline in terms of value.

By the way, Iran’s exports to Armenia and Russia have been more than other EAEU members in this period comparing t the preceding year and it has experienced a 15 and 21 percent rise, respectively.

Iran’s exports in terms of weight have increased to Belarus and Russia 21 and 15 percent while the country’s exports to other destinations like Armenia, Kyrgyzstan, and Kazakhstan have declined in terms of weight. By the way, except for Russia and Belarus, Iran’s exports to other EAEU member states have slumped in terms of value.

Russia has been the top exporter to Iran with exporting goods worth $956m and the figure also shows an 11 percent drop compared to the same period last year and it shows a 7 percent decline.

The TCCIMA report also claims that Iran’s trade balance with EAEU states in 11 months this year has been minus $84m and the figure shows $122m improvement.

EAEU’s trade volume with the world is around $850b annually and their exports are valued at $518b and in exchange, their imports are around $231b while Iran’s share of this market is $2.5b and its exports to those countries are around $1.6b.

Agro products especially grain are the major imports of Iran from EAEU states while agro-products especially fruits and dried fruits are its exports to those states.

Iran and EAEU signed an agreement in November 2020 while Iran’s free trade with those states is to start after 2022.