Iran traded 53.46 million tons of goods (excluding crude oil exports) worth $31.75 billion with the Persian Gulf’s six littoral states, namely Iraq, Kuwait, Qatar, the UAE, Bahrain and Saudi Arabia, during the first 11 months of the last Iranian year (March 21, 2022-Feb. 19).
The figures are indicative of a 4.24% fall in terms of weight, but an 11.96% rise in value compared with the previous year’s corresponding period, latest data released by the Islamic Republic of Iran Customs Administration show.
The UAE was Iran’s top trade partner among the countries under review with 21.99 million tons (up 3.26%) worth $21.75 billion (up 15.71%). It was followed by Iraq with 25.45 million tons (down 16.16%) worth $9.58 billion (up 3.45%) and Kuwait with 5.03 million tons (up 63.9%) worth $195.64 million (up 28.25%).
Iran’s non-oil exports to the six countries hit 41.45 million tons worth $14.96 billion during the period, to register a 1.33% decline in terms of weight, but a 17.64% increase in terms of value year-on-year.
The main export destinations were Iraq with 25.29 million tons (down 9.71%) worth $9.38 billion (up 14.13%), the UAE with 10.16 million tons (up 3.34%) worth $5.25 billion (up 24.3%) and Kuwait with 5.02 million tons (up 63.75%) worth $185.12 million (up 32.93%).
Imports stood at 12 million tons worth $16.78 billion during the 11 months, registering a 13.1% decline in terms of weight, but a 7.33% increase in terms of value YOY.
The UAE topped the list of exporters to Iran among Persian Gulf states with 11.82 million tons (up 3.19%) worth $16.49 billion (up 13.22%). It was followed by Iraq with 155,022 tons (down 93.4%) worth $208.4 million (down 80.15%) and Qatar with 22,153 tons (up 1,043%) worth $69.05 million (up 789.83%).
Iran traded 60.87 million tons of goods worth $31.9 billion with the Persian Gulf littoral states in the fiscal 2021-22, up from $22.36 billion in the year before. Exports totaled 45.43 million tons worth $14.15 billion while imports stood at 15.43 million tons worth $17.76 billion.