Iran's Non-Oil Trade With Americas Exceeds $820m in Nine Month

EghtesadOnline: Iran traded 942,470 tons of non-oil commodities worth $827.36 million with states in the Americas during the first nine months of the current fiscal year (March 21-Dec. 21) to register a 10.41% growth in tonnage and 21.05% decline in value compared with last year’s corresponding period.

News ID: ۷۴۶۵۳۱

21 January 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports to the Americas totaled 75,842 tons worth $98.41 million during the period, indicating a 56.34% and 40.27% decline in tonnage and value respectively year-on-year. Imports stood at 866,627 tons worth $728.95 million, up 27.47% in tonnage and down 17.47% in value YOY.

The Americas are the landmasses of North America and South America, sometimes collectively considered a single continent. They make up most of the land in western hemisphere and comprise the New World. There are 35 sovereign states in the Americas.

Main Commodities, Trading Partners

Iran mainly exported floorings, semi-finished non-alloy iron/steel products, refined copper, carpet, pistachio and machinery to states in the Americas, according to Financial Tribune.

In exchange, major commodities imported into Iran from the Americas included frozen boneless cow parts, oilcake, field corn, cooking bananas, soybean, tractor parts and soybean oil.

In terms of total trade value, Brazil topped the list among the countries in the Americas with bilateral trade with Iran standing at 467,207 tons worth $373.14 million, up by 145.17% in tonnage and down 18% in value YOY.

Brazil was Iran’s 26th major trading partner in the world during the nine months.

Exports to Brazil amounted to 38,416 tons worth $16.88 million to register a 938.76% and 76.74% growth in tonnage and value respectively YOY.

Brazil was Iran’s third biggest export destination among the countries under review and Iran’s 91st export market in the world.

In return, Brazil exported 428,790 tons of commodities worth $356.26 million to Iran, up by 129.47% in tonnage and down 20.03% in value YOY.

The largest country in both South America and Latin America was the top exporter of goods to Iran among the states in the Americas and the 15th exporter of goods to Iran in the world.

Major Iranian commodities exported to Brazil were semi-finished non-alloy iron/steel products, float glass, floorings, glassware, raisins and polystyrene.

For its part, Brazil mainly exported frozen boneless cow parts, field corn, tractor parts, soybean and tobacco to Iran.

The US was Iran’s second biggest trading partner among nations in the Americas during the nine months as two-way commercial exchanges stood at 63,804 tons worth $150.28 million to register a 114.78% increase in tonnage and 30.82% decrease in value YOY.

The US was Iran’s 40th trading partner in the world during the period.

Iran exported 1,493 tons of goods worth $45.13 million to the US, down by 34.23% and 52.32% in tonnage and value respectively YOY.

The country was Iran’s top export destination in the Americas and the 59th export destination in the world during the period.

Iran’s exports to the US included floorings, carpets, saffron and confectionery.

This is while Canada was Iran’s second export destination, after the US, in the Americas as Iran exported 31,898 tons worth $27.82 million to Canada during the nine-month period, up by 344.89% in tonnage and 23.43% in tonnage and value respectively YOY.

Iran mainly exported processed copper, floorings, pistachios, dates and semi-milled rice to Canada.

Iran imported 62,311 tons of commodities worth $105.14 million from the US, up 127.11% in tonnage and down 14.2% in value YOY, the majority of which included medicine, soybean, wood pulp and food supplements.

The US was the third biggest exporter of goods to Iran in the Americas and the 30th exporter to Iran in the world.

Mutual trade between Iran and Uruguay amounted to 249,169 tons worth $107.87 million, indicating a 5.79% decline in tonnage and 6.31% increase in value YOY.

Uruguay was Iran’s third major trading partner in the Americas and 46th in the world.

Iranian exports reached 2 tons worth $70,991, down 73.51% and 32.45% in tonnage and value respectively YOY, while Uruguay’s exports to Iran amounted to 249,166 tons worth $107.8 million, down by 5.79% in tonnage and up by 6.35% in value YOY.

Uruguay was Iran’s 12th export destination as well as the second exporter of goods to Iran in the Americas. The country was Iran’s 138th export destination and 28th exporter to Iran in the world.

Floorings and Kilim were Iran’s main goods exported to Uruguay, while Uruguay exported mainly oilcake and butter to Iran.

Trade with Bolivia (at $2.36 million), Guatemala ($246,650) and Uruguay ($107.87 million) saw the highest YOY growths of 593.84%, 71.86% and 6.31% respectively, while trade with Panama (at $6,250), Costa Rica (at $76,884) and Mexico (at $4.77 million) witnessed the lowest declines of 99.16%, 88.80% and 85.66% respectively.

Iran’s exports to Bolivia (at $2.36 million), Ecuador ($154,456) and Colombia ($936,568) saw the highest growths of 593.84%, 264.44% and 95.46% respectively, while exports to Argentina (at $106,070), Mexico (at $3.83 million) and Peru (at $51,190) witnessed the highest declines of 88.56%, 88.26% and 86.77% respectively.

Imports from Guatemala ($139,911), Mexico ($940,070) and Chile ($3.01 million) saw highest growths of 636.37%, 47.22%, and 20.87% respectively, while imports from Costa Rica ($76,884), Paraguay ($8.75 million) and Peru ($1.06 million) witnessed highest declines of 88.58%, 53.32% 50.50% respectively.