Iran’s shipments to Africa has grown to $912 million over the nine months to December 21, according to an official with the country’s Trade Promotion Organization (TPO).
TPO’s head of Arab and Africa Office Farzad Piltan said Ghana was Iran’s largest customer of non-oil exports over the nine months to late December as the West African country had bought $292 million worth of goods from Iran over the period.
Purchases by South Africa and Nigeria rose to $169 million and $85 million, respectively, said the official, adding that shipments to Sudan and Algeria had also increased between March and December last year.
That comes as imports from Africa into Iran remained low at $40 million over the nine months to late December 2021, according to TPO figures.
Piltan said Iran aims to easily hit a record target of $1 billion in exports to African countries in the calendar year to late March.
He said exports to the region could further rise with an increase in Iranian government’s support for exporters as well as with policies that could give Iranian companies more access to African markets.
The official said Iranian Vice President Mohammad Mokhber will for a first time head a special task force to promote exports to Africa.
TPO estimates suggest Iran has a capacity to increase its trade with African countries to around $5 billion per year.