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IranEgypt trade surges 67 in 8 months amid growing economic ties

· 2 min read

Iran-Egypt trade surges 67% in 8 months amid growing economic ties​

TEHRAN – Trade between Iran and Egypt reached $17.18 million in the first eight months of the current Iranian calendar year (March 20-November 20), marking a 67 percent increase compared to the same period last year, a trade official said on Thursday.

Iran-Egypt trade surges 67% in 8 months amid growing economic ties

Ruhollah Latifi, spokesperson for the International Relations and Trade Development Commission of Iran House of Industry, Mine, and Trade, highlighted the significant growth, coinciding with Iranian President Masoud Pezeshkian's visit to Cairo for the D-8 summit.

“While Iran-Egypt trade has seen fluctuations in line with political relations, recent developments, including closer diplomatic ties and the two countries' membership in BRICS, have contributed to a relative increase in direct trade,” Latifi said.

According to Latifi, 35,883 tons of goods worth $17.18 million were exchanged between the two countries during this period, representing a 65 percent increase in weight and a 67 percent rise in value year-on-year.

Iran’s exports to Egypt amounted to 28,116 tons valued at $13.8 million, showing a 30 percent rise in weight and 41 percent growth in value compared to the previous year. Steel and iron products accounted for 96 percent of Iran’s total exports, with 27,206 tons worth $13.27 million.

Other key exports included laboratory kits ($142,218), pistachios ($105,309), clutch parts, marble and travertine stones, sodium hydroxide, tomato paste, tractors, bakery machinery, and agricultural equipment.

Iran’s imports from Egypt totaled 7,767 tons worth $3.39 million, reflecting a 592 percent increase in value compared to last year. Manganese stone comprised 97.5 percent of total weight and 43.2 percent of total value, with 7,580 tons worth $1.46 million imported.

Other significant imports included disconnectors ($1.004 million), lathes ($359,900), razor blades ($165,325), electronic components ($155,610), potassium sulfate ($138,711), flow meters ($14,233), and glass components for lamps and projectors ($12,750).

EF/MA

source: tehrantimes.com