31% Growth in Iran's Non-Oil Trade With Caspian States
EghtesadOnline: Iran traded 5.06 million tons of non-oil commodities worth $2.68 billion with Caspian Sea littoral states in the last fiscal year (ended March 20, 2019) to register a 22.32% and 31.51% growth in tonnage and value respectively compared with last year’s corresponding period.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 2.52 million tons worth $1.22 billion during the year, indicating a 0.03% and 0.01% increase in tonnage and value respectively year-on-year.
Imports stood at 2.54 million tons worth $1.46 billion, up 0.51% and 0.75% in tonnage and value respectively YOY.
Located between Europe and Asia, the Caspian Sea, the world's largest lake, is bounded by Kazakhstan to the northeast, Russia to the northwest, Azerbaijan to the west, Iran to the south and Turkmenistan to the southeast, Financial Tribune reported.
Main Commodities, Trading Partners
Iran mainly exported potatoes, kiwis, apples, liquefied natural gas, pistachios, tomatoes and dates to the Caspian states.
In exchange, major commodities imported by Iran from the Caspian countries included nuclear reactor parts, barley, sunflower oil, field corn and radio navigation devices.
In terms of total trade value, Russia topped the list among Caspian countries with bilateral trade standing at 2.67 million tons worth $1.62 billion, up by 41.48% and 59.13% in tonnage and value respectively YOY.
Exports to Russia amounted to 499,802 tons worth $280.53 million to register a4.07% and 4.07% decline in tonnage and value respectively YOY.
Russia was Iran’s third export destination among Caspian states and 14th worldwide.
In return, Russia exported 2.17 million tons of commodities worth $1.34 billion to Iran, up by 59.39% and 84.52% in tonnage and value respectively YOY.
Russia was the top exporter of goods to Iran among Caspian nations and eighth in the world.
Major Iranian commodities exported to Russia were kiwi, tomatoes, apples and pistachios.
For its part, Russia mainly exported nuclear reactor parts, sunflower oil, field corn and barley to Iran.
Azerbaijan was Iran’s second biggest trading partner among Caspian states in the 12 months, as two-way commercial exchanges stood at 875,771 tons worth $431.44 million to register an 11.87% and 22.25% growth in tonnage and value respectively YOY.
Iran exported 823,825 tons of goods worth $410.61 million to Azerbaijan, up by 15.56% and 26.06% in tonnage and value respectively YOY.
Azerbaijan was Iran’s top export destination among these four nations and 12th in the world during the period.
Iran’s exports to Azerbaijan included liquefied natural gas, potatoes and chemicals.
Iran imported 51,945 tons of commodities worth $20.82 million from Azerbaijan, down 25.72% and 23.46% in tonnage and value respectively YOY, which mostly constituted oilcake, non-alloy semi-finished iron/steel products and chemicals.
Azerbaijan was the third biggest exporter of goods to Iran among the nations under review and 61st in the world.
Turkmenistan was Iran’s third major trading partner among the states under review.
Trade between Iran and Turkmenistan amounted to 753,984 tons worth $409.78 million, indicating a 17.58% and 5.04% decline in tonnage and value respectively YOY.
Iran’s exports reached 753,880 tons worth $400.48 million, down 16.56% and 4.3% in tonnage and value respectively YOY, while Turkmenistan’s exports to Iran reached 18,104 tons worth $9.29 million, down by 45.09% and 28.77% in tonnage and value respectively YOY.
Turkmenistan was Iran’s second export destination as well as the fourth exporter of goods to Iran among Caspian states. The country was Iran’s 13th export destination and 78th exporter to Iran in the world.
Potatoes, sugar, structures (cast iron, iron/steel), apples, pipes and livestock feed were Iran’s main goods exported to Turkmenistan, while Turkmenistan mostly exported petroleum coke, linter and mineral oils.
Kazakhstan was Iran’s fourth and last trading partner among the littoral states of Caspian Sea during the 12 months as two-way commercial exchanges stood at 758,674 tons worth $218.47 million to register a 37.7% rise in tonnage and 7.28% decrease in value YOY.
Iran exported 461,599 tons of goods worth $131.4 million to Kazakhstan, up 39.86% in tonnage and down 22.19% in value YOY.
Kazakhstan was Iran’s fourth export destination among Caspian states and 29th in the world.
Iran’s exports to Kazakhstan mainly included pistachios, dates and Portland cement.
Iran imported 297,075 tons of commodities worth $878.06 million from Kazakhstan, up 34.46% and 30.46% in tonnage and value respectively YOY, which mainly included barley, sheep carcasses and colza seeds.
Kazakhstan was the second exporter of goods to Iran among the nations under review and 36th exporter in the world.
Highest Growths, Declines in Trade
Trade with Russia (at $1.62 billion) and Azerbaijan ($431.44 million) saw the highest YOY growths of 59.13% and 22.25%, while trade with Kazakhstan ($218.47) and Turkmenistan ($409.78 million) witnessed the lowest declines of 7.28% and 5.04% respectively.
Iran’s exports to Azerbaijan (at $410.61 million) saw the highest growth of 26.06%, while exports to Kazakhstan ($131.4 million), Turkmenistan ($400.48 million) and Russia ($280.53 million) witnessed the highest decline of 22.19%, 4.3% and 4.07% respectively.
This is while imports from Russia (at $1.34 billion) and Kazakhstan ($87.06 million) witnessed the highest growth of 84.52% and 30.46% respectively, whereas imports from Turkmenistan ($9.29 million) and Azerbaijan ($20.82 million) saw declines of 28.77% and 23.46% respectively.