PremiumIran-CIS trade assumes downward trajectory

Baku, Azerbaijan, Nov. 22

By Fatih Karimov– Trend:

The growth of mutual trade between Iran and the Commonwealth of Independent States (CIS) ‎has became negative, after the business between the two sides experienced a significant improvement after removal of international sanctions against Tehran in 2016.

The CIS countires trade with Iran declined by 70 percent to $1,795 million during the first seven months of the current fiscal year(started March 20, 2017), compared to 2,561 million in the same period of the preceding year.

The CIS countries exported over 1.346 million tons of goods, worth $708 million, to Iran during the first seven months of the current Iranian fiscal year (started March 20, 2017), according to the latest statistics released by Trade Promotion Organization of Iran (TPOI).

The Islamic Republic’s imports from the CIS registered a fall by 50 percent in terms of value and 22 percent in terms of volume compared to the preceding year.

Iran’s imports from various economic regions, based on the TPOI report:

Meanwhile during the 7-month period, Iran’s non-oil exports to the CIS reached 1.931 million tons, worth $1,088 million.

The CIS non-oil imports from Iran witnessed a fall by 32 percent in terms of volume and 4 percent in terms of value, respectively.

Iran’s non-oil exports to various economic regions, based on the TPOI report: