Iran’s trade surges 9.4% in final month of Iran calendar year

2021-04-05 19:04:08
Iran’s trade surges 9.4% in final month of Iran calendar year

Iran’s trade with other countries rose by 9.4 percent in the final month of the calendar year to late March, according to the latest figures released by Iran’s customs office (IRICA).

IRICA spokesman Rouhollah Latifi said on Sunday that the value of exports and imports registered at the office in the month to March 20 had topped $7.458 billion, up around $641 million against the month to February 18.

Latifi said imports into Iran outweighed exports from the country by $802 million over the period although both fields had seen increases of 6% and 12%, respectively.

China remained the top export destination for Iran as the East Asian country took delivery of $855 million worth of Iranian non-crude shipments, an increase of 20 percent against the month to late February.

Iraq came second at $516 million, followed by the United Arab Emirates at $454 million, said the IRICA spokesman, adding that shipments to the two Arab countries had risen by 8% and 3% respectively compared to the previous month.

Turkey and Afghanistan were the two remaining major importers of Iranian products over the same period with nearly half a billion worth of purchases, said Latifi.

He added that exports to the five major trade partners had accounted for nearly 70 percent of the value of all shipments sent from Iran in the month to late March.

However, the official said that the UAE was the main exporter into Iran over the same period with $1.195 billion worth of cargoes, followed by China at $965 million and Turkey at $506 million.

Iran has reported a smooth flow of trade with other countries in the year to March despite continued economic pressure by the United States and restrictions imposed at borders because of the spread of the coronavirus pandemic.

The country has seen an uptick in exports of non-oil goods in recent years as it continues to diversify the economy away from crude revenues.

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