A look into Iran-Africa trade

2023-12-05 12:33:28
A look into Iran-Africa trade

Head of Iran's Trade Promotion Organization Mehdi Zeighami has said that one of the reasons for the decrease in export statistics of Iran to Africa is that a large volume of trade is not mentioned in trade statistics with the African continent.

Zeighami argued that there is no regular shipping line or direct line with these countries, and most of the exports are sent through countries such as Oman, the United Arab Emirates, and Turkiye with a change of documents, and for this reason, Iran is not considered as a country of origin.

According to the official, in the first seven months of 2022, Iran exported about 650 million dollars of urea to Africa; so, 70% of Iran's official export to Africa was this product.

The world prices of urea decreased between 30 and 50% in 2023, and on the other hand, African countries have received urea from some countries as gifts or at low prices in order to get a larger share of the market for this product, he said, adding that accordingly, with a decrease in the seven months of this year, the export of urea reached 210 million dollars.

Iran has many different exports in the field of services that are not calculated in the statistics, while it had a 70% growth in the export of services to Africa in the Raisi administration, which is not mentioned in the statistics.

Iranian car manufacturing companies signed agreements to set up production lines in Kenya and Senegal, he said, adding that Iranian firms plan to construct 15,000 residential units in Africa.

The production of vaccines and medical equipment are among other projects with long-term effects, which cannot be seen in short-term statistics, Zeighami argued.

(Source: Agencies)

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