News ID: 268656
Published: 0149 GMT May 05, 2020

Iran’s annual trade with Arab partners hits $22b

Iran’s annual trade with Arab partners hits $22b

The value of Iran’s trade with its Arab trade partners in the region stood at about $22 billion in the past Iranian year (ending March 19), said the director general of the Trade Promotion Organization (TPO)’s Office of Arabian and African Countries.

According to Farzad Piltan, Iran exported about $12.5 billion worth of commodities to the countries in the said period, while importing about $9 billion, IRNA reported.

The mentioned trade partners include Iraq, the United Arab Emirates (UAE), Oman, Qatar, Kuwait, Syria, Lebanon, and Jordan.

In terms of exports, Iraq was Iran’s top export destination with about $9 billion worth of goods exported to the country, followed by the UAE, Oman, Qatar, Kuwait, Syria, Lebanon, Jordan, and Bahrain.

As for the imports, the UAE ranks first with $8.7 billion worth of exports to Iran, followed by Oman, Iraq, and Jordan with $167 million, $131 million, and $21 million of imports, respectively.

According to the official, trade relations between Iran and Saudi Arabia were severed in the mentioned year; no direct trade between the two countries took place last year.

According to Iran’s trade data for the previous year, the UAE ranked second, after China, among Iran’s top trade partners and Iraq was the fourth while Oman was ranked 18th, Qatar 34th, Kuwait 39th, Syria 41st, and Lebanon 62nd, Jordan 63rd and Bahrain 88th.


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