Iran exports to Russia up 36% in 2018

Tehran has been eyeing a bigger share of the Russian market by increasing its exports to the country which has led to a hike in their bilateral trade.

16 February 2019
ID : 11831
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Iran’s exports to Russia rose 36% last year to hit 533 million dollars, latest data by the Iranian Embassy show.

“Iran exported commodities to Russia worth 533 million dollars in 2018 while 2017 figures stood at 392 million dollars," said Farhad Parand, Iran’s economic attaché.

Iranian exports to Russia include pistachio, raisins, dates, apples, cucumber, potato, fish, shrimp, cement, plastics and petrochemical products, according to the official.

Director of Iran’s Customs Administration (IRICA), Mahdi Mir Ashrafi held talks with Russian customs officials last week to discuss bilateral trade obstacles and work out ways to ease imports and exports.

IRICA customs officials hold talks with Russian counterparts in Moscwo to discuss bilateral trade (Photo: irirca.gov.ir)

Recently, Tehran and Moscow ditched dollar to use their national currencies aiming to boost economic activities. Their mutual trade stands at one billion 740 million dollars, showing a 2% rise.

Deputy Russian Foreign Minsiter Sergey Ryabkov has welcomed the creation of Europe's special payment channel with Iran, called INSTEX. He says Moscow will finally join the mechanism. 

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