Iran-EAEU Trade Exceeds $5.6bn

Date: 09 April 2022 - 21:36

News ID: ۱۰۱۴۲۵

TEHRAN – Spokesman for the Islamic Republic of Iran Customs Administration (IRICA) Seyyed Rouhollah Latifi on Saturday put Iran’s trade value with Eurasian Economic Union (EAEU)’s member states last year (ended March 20, 2022) at $5.6 billion.

Latifi said that more than 13,127,000 tons of non-oil goods, valued at $5.643 billion, were exchanged between Iran and EAEU’s member states last year in 1400 (from March 21, 2021 to March 20, 2022), showing a 51 percent growth in terms of weight.

Of total 13,127,045 tons of products, valued at $5,634,048,011, exchanged between Iran and EAEU’s member states in that period, 2,770,155 tons valued at $1,170,581,531, of which was related to the Islamic Republic of Iran, he added.

Iran’s export of products to EAEU’s market registered a 3.5 and 12 percent growth in weight and value, respectively as compared to the same period last year.

Regarding imports of products from EAEU, Latifi said that Iran imported 10,356,890 tons of goods, valued at $4,472,466,480, last year in 1400, showing a 73 and 90 percent growth in weight and value, respectively as compared to the last year’s corresponding period.

Iran Non-Oil Exports Increase

Average exports of Iran’s non-oil products in a month has had a 38-percent increase since August 2021, the inauguration of the new Iranian government.

The government managed to bring about such an increase through developing its economic diplomacy, creating infrastructures, and removing obstacles.

Monthly average of non-oil exports of Iran reached 4.33 billion dollars, which shows a 38-percent growth compared with that of in the previous government period.

Decreasing Iran’s oil export or even pushing it down to zero has been the main aim behind the U.S. sanctions; meanwhile, the issue made the Iranian officials and the economic experts focus more on non-oil exports to provide the country with sustainable income.

Following up the talks on removal of the sanctions and foiling them has been one of the objectives of the new Iranian government as it made effort to develop foreign trade through promoting economic diplomacy with neighboring countries.

Last year, Iran exported 122 million tons of commodities with worth of 48 billion dollars, which shows a 41-percent growth as the figure has been 14 billion dollars in the previous year.

Increase in exports of non-oil products will decrease dependence on oil income and minimize impact of the sanctions.