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Irans trade balance with West Asian countries turns positive in 9 months

· 2 min read

Iran’s trade balance with West Asian countries turns positive in 9 months​

TEHRAN – Iran’s trade balance with West Asian countries turned positive during the first nine months of the current Iranian year, according to the Director General for West Asia at the Trade Promotion Organization (TPO) of Iran.

Iran’s trade balance with West Asian countries turns positive in 9 months

Abdolamir Rabihavi, citing non-oil export statistics, stated that Iran’s trade with Iraq grew by 35 percent, the UAE by 11 percent, Turkey by 59 percent, Kuwait by 31 percent, Syria by 21 percent, Qatar by 14 percent, Jordan by 508 percent, Oman by 15 percent, Lebanon by 30 percent, and Saudi Arabia by a staggering 9,795 percent over the period.

Rabihavi highlighted significant growth in specific trade figures, noting that trade with Saudi Arabia increased from $200,000 to $23 million, with Lebanon from $18 million to $23 million, and with Bahrain from $7.0 million to $11 million.

He explained that Iraq’s import restrictions on Iranian goods are seasonal, often implemented to support domestic production. For instance, Iraqi authorities periodically raise tariffs or impose import bans on agricultural and industrial products to prioritize local producers. Despite these restrictions, Iran’s trade with Iraq grew by 35 percent in the first nine months of the year, reaching $9.413 billion compared to $6.972 billion in the same period last year. Notably, this figure equals the total trade volume for the entire previous year.

Rabihavi also reported substantial growth in trade with Turkey, rising from $3.271 billion last year to $5.203 billion in the first nine months of this year, an increase of nearly $2.0 billion, reflecting significant progress.

In response to whether Iran’s trade balance with West Asian countries is trending positively, Rabihavi confirmed that the trade balance for the period was indeed positive. Exports to these countries increased by approximately 31 percent, while imports grew by 21 percent, resulting in export growth outpacing imports.

EF/MA

source: tehrantimes.com