News ID: 263763
Published: 0406 GMT December 31, 2019

Iran’s nine-month trade balance positive

Iran’s nine-month trade balance positive

Iran’s non-oil trade with other countries registered a $100-million positive balance in the first nine months of the current Iranian year (March 21–December 21), according to the head of Trade Promotion Organization of Iran.

“In the first nine months of the current year, our exports reached $31.9 billion while the imports stood at $31.8 billion,” IRNA quoted Hamid Zadboum as saying on Tuesday.

Mentioning the great potentials of neighboring countries for increasing exports, Zadboum said, “According to studies by the Trade Promotion Organization of Iran, the country’s 15 neighboring countries imported about $1.16 trillion of non-oil commodities in 2018.”

The official further underlined the free trade agreement with the Eurasian Economic Union (EEU) and said, “Three of the mentioned 15 neighbors, namely, Russia, Armenia, and Kazakhstan are part of Eurasia and next year, when the free trade negotiations begin, we can make up to 85 percent of our trade with these countries under the free trade deal.”

Iran’s value of non-oil trade with other countries stood at over $42 billion during the first half of the current Iranian calendar year (March 21-September 22).

According to a report released by the Islamic Republic of Iran Customs Administration (IRICA), the country exported 70 million tons of commodities worth $20.948 billion and imported 16.5 million tons of products valued at $21.221 billion during the first half of the Iranian year.

China, Iraq, Turkey, United Arab Emirates (UAE), and Afghanistan are among the top export destinations of Iranian products, while China, UAE, Turkey, India, and Germany are mostly the five major exporters of goods to Iran.


 

   
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