News ID: 314928
Published: 1240 GMT July 19, 2021

Iran’s three-month exports to African states up 350%: TPO

Iran’s three-month exports to African states up 350%: TPO

The value of Iran’s exports to its African trade partners in the first three months of the current Iranian calendar year (March 21-June 21) showed an increase of 350 percent year-on-year, announced Farzad Piltan, the director general of Trade Promotion Organization’s Office of Arabian and African Countries.

According to Piltan, Iran exported nearly 834,340 tons of commodities worth $340 million to African countries in the said three months, IRNA reported.

The weight of exports in the said quarter also increased by 144 percent compared to the previous years same period.

During this period, Ghana with $151 million of imports, Algeria with $58 million, South Africa with $32 million, Tanzania with $25 million and Nigeria with $18 million were the top export destinations for Iranian products, according to Piltan.

Sudan with about $17 million, Kenya with over $14.5 million, Ivory Coast with $12 million, Somalia with $4 million and Egypt with about $1.5 million were also ranked sixth to 10th.

According to the official, the ease of restrictions imposed due to the coronavirus pandemic and the reestablishment of trade exchanges and events between the two sides were the most important factors contributing to the increase in the Islamic Republics exports to the African countries during the said period.

In February, Piltan announced the opening of a €200-million credit line for the TPO to use for developing exports of commodities and services to African countries.

The fund has been allocated as part of a two-billion-dollar support package which has been allocated by NDF for developing the countrys non-oil exports,” the official said.

In total, Iran traded 38.4 million tons of non-oil goods worth $20.9 billion with its trade partners in the three months to June 21, up 25 percent and 50 percent in terms of weight and value, respectively.

The value of Irans non-oil trade rose 14 percent in the month to June 21, from its previous month, according to spokesman of the Islamic Republic of Iran Customs Administration (IRICA) Rouhollah Latifi.

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