Trade between Iran and the Economic Cooperation Organization’s member states increased by 43% to reach 30.87 million tons worth $16.79 billion in the fiscal 2021-22 (ended March 20), data released by the Islamic Republic of Iran Customs Administration show.
Turkey was Iran’s main trade partner among the states under review with 19.46 million tons worth $11.39 billion. It was followed by Afghanistan with 4.21 million tons worth $1.86 billion and Pakistan with 3.25 million tons worth $1.57 billion.
Iran’s exports stood at 26.42 million tons worth $10.85 billion during the period.
Turkey with 15.74 million tons worth $6.09 billion, Afghanistan with 4.19 million tons worth $1.84 billion and Pakistan with 2.91 million tons worth $1.26 million were the top export destinations.
Imports from ECO members hit 4.45 million tons worth $5.94 billion.
Turkey was also the main exporter to Iran with 3.73 million tons worth $5.3 billion. It was followed by Pakistan with 340,179 tons worth $311,719 million and Uzbekistan with 61,646 tons worth $114,837 million.
Iran and ECO member states traded 23.73 million tons of goods worth $11.71 billion in the fiscal 2020-21, with Iran’s exports standing at 18.42 million tons worth $6.89 billion while imports hovered around 5.31 million tons worth $4.82 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 discuss ways of improving development and promoting trade and investment opportunities.