BRICS’ five member states, namely Brazil, Russia, India, China and South Africa, accounted for a third of Iran’s total foreign trade in the fiscal 2021-22, data released by the Islamic Republic of Iran Customs Administration show.
According to IRICA, Iran’s trade (excluding crude oil exports) with BRICS reached 47.61 million tons worth $33.71 billion in the last fiscal year (ended March 20, 2022), registering a 38.38% and 4.29% growth in weight and value respectively compared to the previous year.
In terms of value, China topped the list of Iran’s trade partners among BRICS group of countries with 32.71 million tons worth $27.07 billion, registering a 7.28% and 43.09% growth in terms of weight and value, respectively.
It was followed by India with 8.06 million tons (up 102.33%) worth $3.4 billion (up 116.09%), Russia with 4.92 million tons (down 49.83%) worth $2.24 billion (down 34.43%), Brazil with 1.36 million tons (up 9.76%) worth $737.77 million (up 83.49%) and South Africa with 554,571 tons (up 127.56%) worth $260.71 million (up 461.97%).
Iran exported a total of $37.81 million tons worth $17.16 billion to BRICS in the fiscal 2021-22, registering a 4.79% and 51.01% increase in terms of weight and value respectively.
China was the main export destination with 28.96 million tons (up 7.62%) worth $14.32 billion (up 57.89%). It was followed by India with 6.72 million tons (down 11.54%) worth $1.82 billion (up 41.89%), Russia with 1.14 million tons (up 8.53%) worth $578.52 million (up 14.9%), South Africa with 553,170 tons (up 335.01%) worth $254.27 million (up 569.51%) and Brazil with 406,628 tons (up 9.85%) worth $182.92 million (up 164.53%).
Iran’s imports from BRICS hit 9.8 million tons worth $16.55 billion, registering a 2.38% and 23.55% growth in weight and value respectively.
China also topped the list of exporters to Iran with 3.73 million tons (up 4.66%) worth $12.74 billion (up 129.44%).
Russia with 3.78 million tons (up 28.81%) worth $1.66 billion (up 55.55%), India with 1.34 million tons (down 39.3%) worth $1.58 billion (down 26.01%), Brazil with 955,729 tons (up 9.72%) worth $554.85 million (up 66.27%) and South Africa with 1,400 tons (down 44.9%) worth $6.44 million (down 23.41%) came next.
Iran’s total foreign trade, excluding crude oil exports, stood at 162 million tons worth $100 billion in the fiscal 2021-22, registering a 38% rise in value compared with the year before, according to the head of the Islamic Republic of Iran Customs Administration.
The above data show BRICS accounted for a third of Iran’s foreign trade in the fiscal 2021-22.
“Exports stood at 122 million tons worth $48 billion, registering a 41% increase in value compared with the previous year,” Alireza Moqaddesi was quoted as saying by IRNA.
This means BRICS accounted for over 78% of Iran’s total exports.
Imports hit 40 million tons worth $52 billion during the same period, registering a 21% and 36% growth in weight and value respectively.
Iran’s imports from BRICS accounted for around a third of its total imports.