BAKU, Azerbaijan, February 4. Iranian non-oil exports to Saudi Arabia increased 99 times in value and 178 times in weight during the nine months of the current Iranian year (from March 20 through December 21, 2024) compared to the same period of last year (from March 21 through December 21, 2023), the spokesperson for the International Relations and Trade Development Committee of Iran's House of Industries, Mines, and Trade, Ruhollah Latifi told local media, Trend reports.
According to him, Iran exported 58,900 tons of non-oil products worth $23.3 million to Saudi Arabia during nine months. However, Iran exported 331 tons of products worth $235,000 to Saudi Arabia during the same period last year.
Latifi noted that Iran exported 58,300 tons of iron and steel products worth $21.7 million, 95 tons of pistachios worth $832,000, 278 tons of raisins worth $583,000, and carpets worth $110,000 to Saudi Arabia during the nine months.
He added that Iran imported 15.5 tons of products worth $33,800 from Saudi Arabia during the nine months.
“The annual trade between the two countries stood at up to $800 million in the recent past. Considering the economic potential of the two countries, it is possible to increase annual trade first to $1 billion and in the following years to $10 billion. It is hoped to increase trade turnover by removing trade barriers between the two countries,” he remarked.
Iran's exports of non-oil products totaled 116 million tons worth $43.1 billion during nine months. Iran's non-oil exports grew by 18 percent in value and 13.8 percent in weight during nine months compared to the same period last year.
To note, Iran's imports of non-oil products reached 27.9 million tons worth about $50.9 billion. Meanwhile, Iran's imports of non-oil products increased by 5 percent in value and decreased by 3.16 percent in weight during nine months compared to last year.