Trade between Iran and the Economic Cooperation Organization’s member states exceeded 10.67 million tons worth $8.19 billion during the current fiscal year’s first six months (March 21-Sept. 22).
the figures registered a 30.28% decline in weight, but a 12.96% increase in value terms compared with the corresponding period of last year, data released by the Islamic Republic of Iran Customs Administration show.
Turkey was Iran’s main trade partner among the countries under review with 5.49 million tons worth $5.3 billion, registering a 41.07% decline in terms of weight, but an 11.87% growth in terms of value, compared with the same period of last year.
It was followed by Pakistan with 1.76 million tons (up 19.46%) worth $1.05 billion (up 61.29%) and Afghanistan with 1.59 million tons (down 36.83%) worth $805.21 million (down 19.91%).
Iran’s exports to ECO members stood at 8.56 million tons worth $4.82 billion during the period, registering a 33.5% decline in terms of weight, but a 5.97% growth in value year-on-year.
Turkey with 4.1 million tons (down 43.08%) worth $2.62 billion (up 13.77%), Afghanistan with 1.58 million tons (down 37.11%) worth $792.09 million (down 20.72%) and Pakistan with 1.31 million tons (down 3.41%) worth $560.72 million (up 3.05%) were the top export destinations.
Imports hit 2.1 million tons worth $3.68 billion during the period, registering a 13.17% decline in weight, but a 24.74% growth in value YOY.
Turkey was also the main exporter to Iran with 1.39 million tons (down 34.23%) worth $2.68 billion (up 10.06%). It was followed by Pakistan with 454,576 tons (up 279.33%) worth $493.91 million (up 350.15%) and Kazakhstan with 180,969 tons (up 75.8%) worth $79.99 million (up 147.65%).
Trade between Iran and ECO increased by 43% to stand at 30.87 million tons worth $16.79 in the fiscal 2021-22. Iran’s exports stood at 26.42 million tons worth $10.85 billion and imports from ECO members hit 4.45 million tons worth $5.94 billion.
The Economic Cooperation Organization is an Asian political and economic intergovernmental organization, which was founded in 1985 in Tehran by the leaders of Iran, Pakistan and Turkey. It provides a platform to explore ways of improving development and promoting trade and investment opportunities.