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Iran foreign trade posts 4.84% jump to US$54.6bn in last six months

The weight of goods exported to Russia was 1,495,000 tons, indicating a growth of 66%..period.
  • The exports posted a 29 percent increase in weight and 2.6 percent decline in value compared to last year’s corresponding period
  • Some 17.6m tons of goods, valued at $30.4bn, were imported into the country in the first half of the current Iranian calendar year

Tehran, Iran— Iran’s foreign trade has registered a 4.84 percent jump to $54.6 billion between March and September this year.

According to the head of the Iranian customs office (IRICA) Mohammad Rezvanifar, 68 million tons of non-oil goods, valued at $24.1 billion, were exported overseas from March 21 to September 22, 2023, showing a 29 percent increase in weight and 2.6 percent decline in value compared to last year’s corresponding period.

Rezvanifar said that the foreign trade registered a 4.84 percent growth compared to the same period last year.

The IRICA chief added that 17.6 million tons of goods, valued at $30.4 billion, were imported into the country in the first half of the current Iranian calendar year, showing 11.6 and 8.6 percent hikes in value and weight respectively compared to the same period last year.

Iran’s total foreign trade (foreign trade with oil excluded) in this timespan hit $54.6 billion, weighing about 85.3 million tons, showing a 5 and 25 percent growth in value and weight respectively compared to the same period of last year, Rezvanifar added.

He further noted that China, Iraq, and the United Arab Emirates were Iran’s main export target markets in this period.

In August this year, trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the first half of 2023, according to Statistical Office of the European Union (Eurostat).

Trade between Iran and Germany accounted for half the value, Tasnim News Agency reported, adding the Iran-EU trade exchanges declined by 10 percent compared to the last year’s corresponding period.

Iran and EU member states had exchanged €2.584 billion in the first half of 2022.

According to this report, EU export of non-oil products to Iran was down from €2.31 billion in the first six months of 2022 to €1.894 billion in the same period this year.

Among EU member states, Germany, Italy and the Netherlands accounted for most of the export of products to Iran from January to June 2023.

EU import of products from Iran from January to June 2023 reached €419 million, showing a 24 percent decline compared to the same period of last year.

EU member states had imported €553 million worth of non-oil products from Iran from January to June 2022.