Iran’s Non-Oil Exports to EAEU States Grow 40%

Date: 21 November 2021 - 21:29

News ID: ۹۶۸۵۳

TEHRAN – Islamic Republic of Iran Customs Administration (IRICA) has reported that the country’s non-oil trade value with Eurasian Economic Union (EAEU) member states in the first six months of the current Iranian calendar year (from Mar. 21 to Sep. 22) hit about $1.2 billion, showing a 40 percent hike.
IRICA said that Iran’s trade of non-oil goods with Eurasian Economic Union’s member states from March 21 to Sep. 22 registered a 40 percent increase as compared to the same period of last year.
In this period, Iran’s export of non-oil goods to EAEU’s member states recorded about a 10 and 40 percent hike in terms of weight and value respectively.
Accordingly, about 1.1 million tons of non-oil goods, valued at $487 million was exported to EAEU’s member states in the first half of the current year, accounting for three percent of the total value of export of non-oil commodities, and registered about 10 and 40 percent hike in terms of weight and value respectively, the report added.
During this period, the Islamic Republic of Iran imported about 1.4 million tons of goods, valued at $689 million, from EAEU’s member states, accounting for three percent of the total import of goods.
Iran’s import of goods from EAEU’s member states from March 21 to Sep. 22 recorded a 31.5 percent decline in terms of weight and also about a 3.8 percent hike in terms of value.
In this regard, Iran’s trade balance with EAEU’s member states from March 21 to Sep. 22 hit about -$203 million, the report ended.

Iran’s Exports to EU Rose €632mn

On Saturday, Tehran Chamber of Commerce (TCCIMA) published a repot asserting Iran’s exports to the European Union countries rose significantly in the three quarters to September this year, despite sanctions imposed by the U.S. which keep hampering trade between the two.
The report showed that the value of Iranian shipments sent to the EU countries in January-September had reached 632 million euros, an increase of 14% compared to the similar period in 2020.
The surge came as imports from the EU into Iran had declined by 1% over the same period to stand at 2.072 billion euros, showed the report.
Trade has continued between Iran and the EU despite growing financial and banking restrictions faced by traders because of a series of American sanctions that have been in place since early 2018.
Sanctions have made it almost impossible to transfer payments between Iran and many European countries as Washington punishes any bank with interests in the U.S. if it carries out in transactions involving Iranian entities.
The TCCIMA report said that Iranian exports to EU had accounted for 19% of the total overseas shipments from the country in January-March.
It said that the size of trade between neighboring Turkey and the EU over the same period had been 33 times higher than that of Iran at nearly 113 billion euros.
Economic analysts say that Iran-EU trade ties could boom if Tehran and Washington return to a major 2015 nuclear agreement amid international efforts to revive the deal.