The volume of Iran’s foreign trade has reached $82.2 billion during the first six months of the current Iranian calendar year (March 20 - September 21), according to a report by the Islamic Republic of Iran Customs Administration (IRICA).
The report indicated that Iran’s non-oil exports grew by 6.5% during the period, amounting to $25.8 billion. In addition, Iran exported $23.2 billion worth of oil and $600 million in technical and engineering services. This brought the country’s total exports in the first half of the year to $49.6 billion.
In terms of volume, Iran’s non-oil exports reached 70 million tons, showing a 3.5% increase compared to the same period last year, IRICA stated.
On the import side, Iran brought in $32.6 billion worth of goods, including $2.5 billion in gold bullion.
Iran’s trade balance, excluding oil and technical services, registered a $6.8 billion deficit. However, when factoring in oil and technical services, the country achieved a positive trade balance of $17 billion.
Among key export sectors, Iran’s petrochemical products accounted for 28.1 million tons worth $11.3 billion, marking a 5% rise in volume and a 7% increase in value compared to the same period last year.
China remained Iran’s top export destination, importing $7.2 billion in goods, followed by Iraq with $5.2 billion, the United Arab Emirates (UAE) with $3.4 billion, Turkey with $2.4 billion, Afghanistan with $1.1 billion, Pakistan with $1 billion, and India with $900 million. These seven countries collectively represented 81% of the total weight and 82% of the total value of Iran’s exports.
On the import front, the UAE was the largest source of goods for Iran, with $10 billion in imports, followed by China with $8.5 billion, Turkey with $5.1 billion, Germany with $1.2 billion, and both Russia and India at $800 million each. Hong Kong accounted for $600 million in imports. These seven countries contributed 77% of the total weight and 83% of the total value of Iran’s imports.
In terms of overall trade partnerships, China led with $15.7 billion in bilateral trade, followed by the UAE at $13.4 billion, and Turkey with $7.5 billion, making them Iran’s top three trading partners.