The volume of trade between Iran and Oman hit $1.887 billion in the Iranian year to March 2023 to post a 41% year-on-year growth, according to Iran Customs Administration (IRICA) data.
The latest IRICA figures covered by IRNA news agency suggest that Iran’s exports to neighboring Oman increased by 52% in the one-year period to hit $1.087 billion.
Iran’s exports to the Persian Gulf sultanate stood at $716 million in the preceding year.
Oman is majorly regarded as a hub for the re-exports of Iranian products.
Iran also imported as much as $800 million worth of commodities from Oman during the period under review which shows a 29% increase YOY.