Iran, ECO trade hits $10.2 bn in 7 months

The trade exchanges between Iran and the Economic Cooperation Organization (ECO)’s member states in the first seven months of the current Iranian calendar year (March 21 to October 22, 2023) reached $10.2 billion.

News ID: 807372

Over 14 million tons worth of products, valued at more than $10 billion, were exchanged between Iran and the nine ECO state members from March 21 to October 22, 2023, showing an 18 and 4.5 percent hike in weight and value respectively compared to the same period of last year, Spokesman for Iran’s House of Industry, Mine and Trade for Trade Promotion and International Relations Commission Rouhollah Latifi stated.

In this timespan, Iran exported over 12 million tons of non-oil products, valued at more than $5 billion, to the ECO member states, registering a 23 and 2.5 percent growth in weight and value respectively, he said.

Iran imported over 2 million tons of products, valued at more than $4 billion, from these countries from March 21 to October 22, 2023, showing a 1.2 and 7.3 percent hike in weight and value respectively, Latifi added.

According to the official statistics, Iran’s balance of trade with nine ECO member states in this period was +$1.6 billion.

Among other ECO member states, Turkey, Pakistan, and Afghanistan were Iran’s first to third export target markets from March 21 to October 22, 2023, he said, adding that Turkey imported more than $2 billion worth of products from Iran. / MEHR