Trade between Iran and the Economic Cooperation Organization’s member states reached 12.63 million tons worth $9.75 billion during the current fiscal year’s first seven months (March 21-Oct. 22), data released by the Islamic Republic of Iran Customs Administration show.
The figure registered a 37.85% decline in terms of weight, but a 5.71% growth in terms of value year-on-year.
Turkey was Iran’s main trade partner among the countries under review with 6.35 million tons worth $6.29 billion. It was followed by Pakistan with 2.2 million tons worth $1.26 billion and Afghanistan with 1.92 million tons worth $955.06 million.
Iran’s exports to ECO members stood at 10.07 million tons worth $5.74 billion during the seven months ending Oct. 22, registering a 42.24% and 4.69% decline in terms of weight and value YOY, respectively.
Turkey with 4.59 million tons worth $3.08 billion, Afghanistan with 1.91 million tons worth $939.13 million and Pakistan with 1.69 million tons worth $703.89 million were the top export destinations.
Imports hit 2.56 million tons worth $4.01 billion during the period, to register an 11.34% decline in terms of weight, but a 25.33% growth in terms of value YOY, respectively.
Turkey was also the main exporter to Iran with 1.75 million tons worth $3.21 billion. It was followed by Pakistan with 511,995 tons worth $563.38 million and Kazakhstan with 201,370 tons worth $88.27 million.
Trade between Iran and ECO rose 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. 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.