Iran Exports to Saudi Arabia See 532% Growth
Iran Exports to Saudi Arabia See 532% Growth
Spokesman of the Islamic Republic of Iran Customs Administration says Iran’s exports to Saudi Arabia have grown by 532% in the first half of the current Iranian calendar year and by the way imports from Pakistan have grown by 350% in the same period.

TEHRAN (Iran News) –Spokesman of the Islamic Republic of Iran Customs Administration says Iran’s exports to Saudi Arabia have grown by 532% in the first half of the current Iranian calendar year and by the way imports from Pakistan have grown by 350% in the same period.

Ruhollah Lotfi said that statistics showed that 38,650,000 tons of non-oil goods, valued at $24.198 billion, were exchanged between Iran and 15 neighboring states in the first half of the current year, showing a seven percent growth.

Iran’s trade value with neighboring states registered a seven percent from March 21 to September 23, registering a seven percent growth as compared to the last year’s corresponding period.

He added that despite 7% growth in the value of the non-oil trade with neighboring countries, the country has faced 18% decline of exports in terms of weight, adding that The Islamic Republic of Iran exported 29,280,000 tons of non-oil goods, valued at $12,327,304,446, to neighboring countries from Mar. 21 to Sep. 23, showing a 19 and 10 percent growth in weight and value respectively.

Among the neighboring countries, the maximum export growth is related to Saudi Arabia with a 532 percent hike while the least export growth is related to Pakistan with a 350 percent rise.

Although Iran’s non-oil trade value has registered a seven percent growth in this period, the country’s export volume has shown an 18 percent decline, the report added.

In this period, Iran imported 9,320,000 tons of non-oil goods, valued at $11,870,567,355, from 15 neighboring countries, registering a 14 percent decline in weight and 4.4 percent growth in value.

Iraq, the United Arab Emirates (UAE), Turkey, Afghanistan, and Pakistan were introduced at Iran’s export target markets respectively from Mar. 21 to Sep. 23, 2022.

He added that Iran’s exports to Iraq in this period are valued at $3.382b while the country’s exports to Turkey stood at $2.626b.

Oman, Azerbaijan, Russia, Turkmenistan, Armenia, Kuwait, Kazakhstan, Qatar, Bahrain and Saudi Arabia were the other top destinations for Iran’s exports, respectively.

He reiterated that in the first half of the year the UAE has been the top exporter to Iran with exporting goods worth $7b which shows one percent decline comparing to the same period last year and Russia was the second exporter to Iran with $876m which shows 37% growth.

He noted that Iran’s imports from Turkey were valued at $2.68b and imports from Pakistan stood at $494m which shows 350% growth.

Lotfi admitted that imports from Iraq have faced 82% decline while Kazakhstan has increased its exports to Iran by 148% and took it to $80m.