Iran’s trade with its 15 neighboring countries totaled $13.42 billion in the spring quarter of its current fiscal year, down 16% in value compared to the same period a year earlier, the Islamic Republic of Iran Customs Administration (IRICA) said on Monday.
Between March 20 and June 21, Iran exchanged around 23 million tonnes of goods with neighboring states, marking a 17% decline in volume year-on-year.
Non-oil exports reached $6.65 billion, down 22% from the previous year. Iraq was the top destination for Iranian exports at $1.9 billion, followed by the United Arab Emirates ($1.6 billion), Turkey ($940 million), Afghanistan (over $510 million), and Oman ($437 million).
Imports from neighboring countries amounted to $6.77 billion, a 9.65% decrease year-on-year. The UAE was Iran’s leading source of imports at $3.89 billion, followed by Turkey ($1.99 billion), Russia ($353 million), Oman ($223 million), and Pakistan ($174 million).
Despite the overall contraction, trade volumes with several countries rose. Trade with Qatar increased by 69%, Russia by 19%, Oman by 11%, and Turkmenistan by 8.5%, IRICA data showed.
In the fiscal year ending March 19, 2025, Iran’s total non-oil trade with neighbors climbed 21% to $74.32 billion, with volumes reaching 112.8 million tonnes, a 16% increase from the previous year. Exports stood at 89.38 million tonnes worth $36.01 billion, while imports were 23.43 million tonnes valued at $38.31 billion.
The UAE, Turkey, Iraq, Pakistan, and Afghanistan remained Iran’s top regional trade partners during the year.