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Iran boosts its non-oil trade turnover with neighbors

Economy Materials 28 October 2024 09:27 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, October 28. Iran's non-oil trade turnover with 15 neighboring countries (with land and water borders) grew by 23 percent in value and 16 percent in weight during the seven months of the current Iranian year (from March 20 through October 21, 2024) compared to the same period last year (from March 21 through October 22, 2023), Iran's Deputy Minister of Economy and Finance, Director General of Customs Administration Mohammad Rezvanifar told reporters, Trend reports.

He said that this figure amounted to 64.5 million tons worth $41.1 billion during the seven months of this year.

Rezvanifar added that in the mentioned period, Iran's non-oil trade turnover was mainly $16.2 billion with the UAE, $9.9 billion - Türkiye, $7.6 billion - Iraq, $1.6 billion - Pakistan, and $1.5 billion - Russia.

The customs official also said that of Iran's non-oil trade turnover with neighboring countries, 51.1 million tons worth $20.2 billion accounted for exports, and 13.4 million tons worth $20.9 billion - imports.

The deputy minister mentioned that Iran's main export destinations for its non-oil products were Iraq, UAE, Türkiye, Afghanistan and Pakistan and main importers - the UAE, Türkiye, Russia, Oman and Pakistan.

To note, Iran has been making efforts to increase non-oil trade with neighboring countries in recent years.

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