Iran’s trade with Shanghai Cooperation Organization’s member states, excluding crude oil exports, reached 24.51 million tons worth $19.66 billion during the first six months of the current fiscal year (March 21-Sept. 22), according to latest data released by Iran Customs Administration (IRICA).
The figures registered a 2.71% and 30.67% growth in weight and value year-on-year, respectively.
China with 16.77 million tons worth $14.68 billion was Iran’s main trade partner among SCO member states during the period, registering a 2.29% and a 26.51% increase in terms of weight and value, respectively, compared with the same period of last year.
It was followed by India with 3.12 million tons (down 7.72%) worth over $2.28 billion (up 60.19%) and Russia with 2.08 million tons (up 17.29%) worth $1.21 billion (up 33.67%).
Iranian exports hit 19.61 million tons worth $9.92 billion, registering a 3.42% decline in weight, but a 15.95% growth in value YOY.
China with 14.91 million tons (up 0.54%) worth $7.84 billion (up 19.39%), India with 2.2 million tons (down 24.39%) worth $904.12 million (up 8.94%) and Pakistan with 1.31 million tons (down 3.41%) worth $560.72 million (up 3.05%) were the main export destinations.
Imports stood at 4.89 million tons worth $9.74 billion, registering a 37.79% and 50.09% increase in terms of weight and value, respectively.
China with more than 1.85 million tons (up 18.94%) worth $6.84 billion (up 35.79%), India with 915,063 tons (up 96.92%) worth $1.37 billion (up 131.55%) and Russia with 1.46 million tons (up 15.1%) worth $876.1 million (up 37.19%) were the major exporters.
The Shanghai Cooperation Organization is a Eurasian political, economic and security organization. In terms of geographical scope and population, it is the world's largest regional organization, covering approximately 60% of the area of Eurasia, 40% of the world population and more than 30% of global GDP.
SCO is a successor to the Shanghai Five, a mutual security agreement formed in 1996 by China, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. On 15 June 2001, the leaders of these nations and Uzbekistan met in Shanghai to announce a new organization with deeper political and economic cooperation; the SCO Charter was signed on July 7, 2002, and entered into force on Sept. 19, 2003. Its membership has since expanded to eight states, with India and Pakistan joining on June 9, 2017. Several countries are engaged as observers or dialogue partners.