Iran’s Q1 trade with OIC hits $12.7 billion

Non-oil trade between Iran and the member states of the Organization of Islamic Cooperation stood at 21.07 million tons worth $12.77 billion in the first quarter of the current fiscal year (March 21-June 21), latest data released by the Islamic Republic of Iran Customs Administration show.

13 August 2022
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Non-oil trade between Iran and the member states of the Organization of Islamic Cooperation stood at 21.07 million tons worth $12.77 billion in the first quarter of the current fiscal year (March 21-June 21), latest data released by the Islamic Republic of Iran Customs Administration show.

The UAE with 5.36 million tons worth $5.07 billion, Turkey with 3.77 million tons worth $3.01 billion and Iraq with 5.69 million tons worth $1.86 billion were Iran’s main trade partners among OIC member states. 

Iranian exports reached 17.03 million tons worth $7.27 billion.

Iraq with 5.66 million tons worth $1.82 billion, Turkey with 3.07 million tons worth $1.74 billion and the UAE with 2.9 million tons worth $1.64 million were the main export destinations.

Imports stood at 4.04 million tons worth $5.5 billion. The UAE with 2.47 million tons worth $3.43 billion, Turkey 700,238 tons worth $1.27 billion and Pakistan 223,090 tons worth $195.6 million were the major exporters.

Founded in 1969, OIC has 57 members, including Iran, with 47 countries being Muslim majority countries. Some, especially in West Africa, have large Muslim populations that necessarily do not form a majority. 

Iran traded 100.15 million tons of goods (excluding crude oil export) worth $52.6 billion with OIC states in the fiscal 2021-22 (ended March 20), according to IRICA. This was 43% on the year before.

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