News ID: 274080
Published: 0111 GMT September 12, 2020

Iran’s five-month exports to Arab states reach $2.5b: TPO

Iran’s five-month exports to Arab states reach $2.5b: TPO

Iran exported $2.5 billion worth of non-oil commodities to its Arab trade partners during the first five months of the current Iranian year (March 20-August 21, 2020), announced the director general of Iran’s Trade Promotion Organization (TPO)’s Office of Arabian and African Countries.

According to Farzad Piltan, the Arab trade partners include Iraq, the UAE, Oman, Qatar, Kuwait, Syria, Qatar, Jordan, Lebanon, and Bahrain, IRNA reported.

Among Iran’s top trade partners, Iraq was ranked the second export destination, followed by UAE, Oman, Kuwait, Syria, and Qatar.

The official said, the exports to the Arab partners decreased by about $3.5 billion in the said period compared to the corresponding figure of last year following the outbreak of the coronavirus and the closure of Iran’s borders with neighboring countries.

However, this decline is expected to be partially compensated for by the end of this year (March 2021), following the reopening of borders and the resumption of international trade.

The value of Iran’s total non-oil trade during the first five months of the current year stood at $24.6 billion, about $5 billion more than the figure for the first four months.

According to the head of the Islamic Republic of Iran Customs Administration (IRICA), Mehdi Mirashrafi, the significant increase in the value of trade was an indication that the negative impact of the COVID-19 outbreak on Iran’s foreign trade has eased.

Iran’s top five non-oil export destinations during this period were China, with over $3 billion worth of exports, Iraq with $2.4 billion, the United Arab Emirates (UAE), with over $1.55 billion, and Afghanistan, with $871 million, and Turkey, with $513 million.



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