Iran’s Trade with 56 OIC Member States Hits $61 Billion: IRICA Chief

The value of the trade exchanges between Iran and the other 56 member states of the Organization of Islamic Conference (OIC) reached $61 billion in the past Iranian calendar year (ended March 19, 2024), registering a 0.19 percent hike compared to a year earlier.

News ID: 835922

EghtesadOnline: The head of the Islamic Republic of Iran Customs Administration (IRICA) put the volume of the trade exchanges between Iran and OIC member states from March 21, 2023 to March 19, 2024 at 94 million tons, registering a 4.22 percent decline compared to the previous year.

Iran exported $29 billion of products to these countries and imported $32 billion worth of products from them, Mohammad Rezvanifar added, IRNA reported.

The deputy minister of economy went on to say that the country’s export of products to the OIC members last year registered an 11% decline in value while the import of products from these countries increased 13% compared to a year earlier.

Among the OIC member states, the United Arab Emirates (UAE), Turkey, Iraq, Pakistan, Oman, Afghanistan, Malaysia and Indonesia were Iran’s major trade partners, the IRICA chief added. / Tasnim