Trade between Iran, UAE hits nearly $1.5b in 5 months

September 3, 2021 - 12:30

TEHRAN- The head of Iran-United Arab Emirates (UAE) Joint Chamber of Commerce said that the value of trade between the two countries hits nearly $1.5 billion in the first five months of the current Iranian calendar year (March 21-August 22).

Farshid Farzanegan put Iran’s export to the UAE at $380 million and its import from that country at $1.07 billion in the mentioned five-month period.

As announced by an official with Iran's Trade Promotion Organization (TPO), the value of trade between Iran and the United Arab Emirates stood at $14.279 billion in the past Iranian calendar year (ended on March 20).

Farzad Piltan, the director-general of TPO’s Office of Arabian and African Countries, also put the weight of annual trade between the two countries at 20.34 million tons, and said that the figure shows a 28-percent growth year on year.

As announced by the head of the Islamic Republic of Iran Customs Administration (IRICA), the value of Iran’s non-oil trade rose 38 percent during the first five months of the current year, as compared to the same period of time in the past year.

Mehdi Mir-Ashrafi said that Iran has traded 59.3 million tons of non-oil products worth $34 billion with other countries in the mentioned period, which indicates also 14 percent growth in terms of weight on an annual basis.

The official put the five-month non-oil exports at 45.5 million tons valued at $17.661 billion, with a 63 percent rise in value and 20 percent growth in weight.

The IRICA head mentioned methanol, natural gas, polyethylene, semi-finished iron products, iron ingots, gasoline, liquefied propane, iron rods, urea, and bitumen as the main exported products in the said time span.

He said major export destinations of the Iranian non-oil goods were China with about 12.3 million tons worth $5.9 billion, Iraq with 12 million tons worth $3.163 billion, the United Arab Emirates (UAE) with five million tons worth $1.9 billion, Turkey with 1.375 million tons worth $1.1 billion, and Afghanistan with 2.165 million tons worth $885 million.

The official further announced that Iran has imported 13.8 million tons of non-oil commodities worth $16.631 billion in the first five months of the present year, with a 21 percent growth in value and a 0.5 percent fall in weight year on year.

According to the official, the country’s trade balance was over $1 billion positive in the mentioned five months.

Mir-Ashrafi named cellphones, livestock corn, sunflower oil, barley, meal, wheat, soybeans, sugar, and rice as the main imported commodities.

The United Arab Emirates with 4.436 million tons of goods worth $5.391 billion was the top exporter to Iran in the said period, followed by China with 1.1 million tons of goods worth $3.6 billion, Turkey with 1.578 million tons worth $1.8 billion, Germany with 431,000 tons worth $668 million, and Switzerland with 692,000 tons worth $572 million, the official stated.

MA/MA

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