Trade turnover between Iran and the Economic Cooperation Organization’s member states reached 14.64 million tons worth $11.2 billion during the current Iranian year’s first eight months (March 21-Nov. 21).
the figures registered a 32.77% fall in terms of weight, but a 7.19% rise in terms of value compared with last year’s corresponding period, latest data released by the Islamic Republic of Iran Customs Administration show.
Turkey was Iran’s main trade partner among the countries under review with 7.32 million tons worth $7.21 billion. It was followed by Pakistan with 2.61 million tons worth $1.46 billion and Afghanistan with 2.24 million tons worth $1.1 billion.
Iran’s exports to ECO members stood at 11.54 million tons worth $6.51 billion during the eight months ending Nov. 21, registering a 38.05% and a 4.52% decline in terms of weight and value YOY, respectively.
Turkey with 5.09 million tons (down 55.11%) worth $3.39 billion (down 9.86%), Afghanistan with 2.22 million tons (down 27.21%) worth $1.08 billion (down 14.82%) and Pakistan with 2.05 million tons (up 10.03%) worth $851.68 million (up 11.42%) were the top export destinations.
Imports hit 3.1 million tons worth $4.69 billion during the period to register a 1.53% decline in terms of weight, but a 29.56% growth in terms of value YOY, respectively.
Turkey was also the main exporter to Iran with 2.22 million tons (down 18.06%) worth $3.81 billion (up 17.68%). It was followed by Pakistan with 555,582 tons (up 185.33%) worth $616.79 million (up 238.74%) and Kazakhstan with 216,090 tons (up 83.88%) worth $97.23 million (up 158.46%).
Trade between Iran and ECO rose 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 while 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.