Iran reports $9bn trade deficit in 10-month period: IRICA

The Islamic Republic of Iran Customs Administration (IRICA) has reported a trade deficit of $9 billion for the 10 months of the current Iranian calendar year (started March 21, 2024).

News ID: ۲۰۰۰۷۹۱

04 February 2025

EghtesadOnline: IRICA figures released on Monday showed that the country’s non-oil exports had reached $47 billion in the period from late March last year to late January this year, an increase of 18% compared to the previous same period, according to Press TV.

IRICA Chief Foroud Asgari disclosed the figures in a press conference with reporters in Tehran, adding that Iranian export shipments had increased by 12% in volume terms to reach 127 million metric tons (mt) in the 10 months to late January.

He said non-oil imports into Iran also increased by 3% in volume and value terms to reach 30.7 million mt worth $56 billion over the same period.

China was the largest buyer of Iranian goods and commodities over the 10 months to late January with some $12.3 billion worth of purchases, followed by Iraq at $10 billion, the United Arab Emirates at $5.9 billion, and Turkey at $5.5 billion, IRICA figures showed.

The data showed that the UAE, the main re-exporting hub in the Persian Gulf, was the largest exporter to Iran over the same period with some $17 billion worth of supplies.

China’s exports to Iran hit $14.4 billion over the 10 months to late January while exports by Turkey and Germany reached $9.9 billion and $1.9 billion, respectively, Asgari said.

He said Iran’s main export data-x-items over the period included liquefied propane, butane, and methanol, adding that the country had exported 139,000 mt of pistachio worth $1.278 billion, up 95% and 165% in volume and value terms year on year.

Main import data-x-items into Iran in the 10 months to late January included gold bars at $6.3 billion, corn feed at $2.3 billion, mobile phones at $1.8 billion, and soybean feed at 1.6 billion, IRICA figures showed. / Mehr