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

May 5, 2020 - 15:10

TEHRAN – The value of Iran’s trade with its Arab trade partners in the region stood at about $22 billion in the previous Iranian calendar year 1398 (ended on March 19), Farzad Piltan, the director-general of Iran's Trade Promotion Organization (TPO)’s Office of Arabian and African Countries, said.

According to Piltan, Iran exported about $12.5 billion worth of commodities to the mentioned countries in the said period, while importing about $9 billion, the TPO portal 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 ranked 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 the 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, and no direct trade between the two countries took place last year.

According to Iran’s trade data for the previous year, among the mentioned countries, the UAE ranked second 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.

EF/MA

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