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Value of 12-month foreign trade at $65b: TPO
The value of Iran's foreign trade reached $65 billion during March 2020-February 2021, said the head of the Trade Promotion Organization (TPO) of Iran on Monday.

Hamid Zadboom added of this figure, about $34 billion pertained to the country’s imports and close to $31 billion to its exports, IRNA reported.

He noted that despite US unilateral sanctions on Iran, the value of the country’s foreign trade surpassed $80 billion in the previous calendar year (which ended on March 19, 2020), with part of it being related to the agricultural sector.

 

Syria trade

 

In addition, Farzad Piltan, the TPO’s director general for the Arab and African countries, said on Monday that Iran and Syria have the capacity to boost their annual bilateral trade to $1.5 billion by 2023.

Piltan made the remarks at a conference on cooperation opportunities with Syria.

He said the TPO, in coordination with relevant domestic institutions, is preparing the ground for developing Iran’s trade relations with Syria.

Piltan added politically and economically, Syria is one of Iran’s strategic partners.

Iran and Syria must expand economic and trade relations with each other, he stressed.

He noted that in addition to goods trade, Iran has a very remarkable capacity for expanding cooperation with Syria in the field of exporting techno-engineering services under the present circumstances.

Security issues have reduced Syria’s annual foreign trade, Piltan said, adding in 2008, the country’s foreign trade stood at over $30 billion, which has dropped to less than $5 billion.

During March 20-October 21, 2020, Iran exported goods worth $73 million to Syria and imported products valued at $10 million from the country.

Earlier, the spokesman of the Islamic Republic of Iran Customs Administration (IRICA), Rouhollah Latifi, announced that Iran’s exports of non-oil goods increased by 6.2 percent in the month to February 18.

He added the total value of non-oil exports from Iran in the 11th month of the current Iranian year reached $3.1 billion, up by $184 million against the previous month, Press TV reported.

Imports declined by $50 million or 1.32 percent compared to the month ending late January, to stand at $3.682 billion, said Latifi.

That comes against a 19 percent month-on-month drop recorded for exports in the month to late January.

The total value of non-oil exports from Iran for the 11-month period between late March last year and late February this year had amounted to $31.2 billion, said Latifi, adding that the country had imported $34.3 billion worth of goods over the same period.

Exports and imports grew by size in the month to late February to reach $6.81 billion in total, an increase of 1.24 percent month-on-month.

China remained the top importer of Iranian goods over the same month, with $845 million worth of purchases, followed by Iraq, at $477 million, and the UAE at $441 million.

 

 

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