Trade With Neighboring States Grows 14.5% y/y
Trade With Neighboring States Grows 14.5% y/y
Official figures published by the Iranian Economy Ministry show that trade exchanges between the Islamic Republic and its neighboring countries witnessed a 14.5-percent growth in value during the last Iranian calendar year 1401 (March 21, 2022-March 20, 2023).

TEHRAN (Iran News) –Official figures published by the Iranian Economy Ministry show that trade exchanges between the Islamic Republic and its neighboring countries witnessed a 14.5-percent growth in value during the last Iranian calendar year 1401 (March 21, 2022-March 20, 2023).

The ministry released its figures in a report published on Thursday.

During the year 1401, Iran traded a total of 96,767 tons of goods with all of its 15 neighboring countries namely Iraq, the UAE, Pakistan, Afghanistan, Bahrain, Qatar, Kuwait, Armenia, the Azerbaijan Republic, Russia, Turkey, Kazakhstan Turkmenistan, Oman and Saudi Arabia.

That amount of trade was worth $58,843 million and increased by 14.5 percent year-on-year.

Of the total trade with the neighboring states in the year 1401, non-oil exports of Iran stood at $30,537 million. That was up by nearly 19.5 percent compared with a year before.

The non-oil exports weighed 75,184 tons, showing a slight increase (0.1%) compared with the previous year 1400 when Iran exported 74,622 tons of non-oil goods to its neighbors.

Iraq, Turkey, the UAE, Afghanistan and Pakistan were respectively the top importers of Iranian goods in 1401.

Figures by the Iranian Economy Ministry also show that the country’s imports from its neighboring countries grew 9.6 percent in value in the year 1401, but decreased 21.6 percent in weight.

During that period, the Islamic Republic imported 21,583 tons of goods worth $28,306 million from its neighboring countries.

The UAE, Turkey, Russia, Pakistan and Oman were the top importers of goods to Iran.

The current government is focused on boosting trade with neighboring countries and in recent months the trade with the neighboring states has increased considerably and it is expected it to increase more through preparing infrastructures and required mechanisms.