Iran's Non-Oil Trade With Eastern Europe Rises by 25 Percent

EghtesadOnline: Iran traded 4.49 million tons of non-oil commodities worth $2.66 billion with the member states of United Nations’ Eastern European Group during the 11 months to Feb. 19 to register a 31.77% and 25.21% growth in tonnage and value respectively compared with last year’s corresponding period.

News ID: ۷۴۷۱۵۲

27 April 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 2.37 million tons worth $1.13 billion during the period, indicating a 38.72% and 24.56% increase in tonnage and value respectively year-on-year.

Imports stood at 2.11 million tons worth $1.53 billion, up 24.74% and 25.69% in tonnage and value respectively YOY.

The Eastern European Group, also known as Countries with Economies in Transition, is one of the five unofficial Regional Groups in the United Nations that act as voting blocs and negotiation forums. Regional voting blocs were formed in 1961 to encourage voting to various UN bodies from regional groups, Financial Tribune reported.

The group consists of countries in Eastern Europe, the Balkans, the Baltics, Central Europe and the Caucasus, which form the former Eastern Bloc. Europe is divided between EEG and Western European and Others Group. The group currently has 23 members.

The United Nations Regional Groups are the UN geopolitical regional groups. UN member states are divided into five regional groups: the African Group, with 54 member states, the Asia-Pacific Group, with 53 member states, the Eastern European Group, with 23 member states, the Latin American and Caribbean Group, with 33 member states, the Western European and Others Group, with 28 member states, plus 1 member state (the United States) as an observer state.

Main Commodities, Trading Partners

Iran mainly exported liquefied natural gas, pistachios, kiwi, bitumen, polyethylene grade film, polystyrene, apples and tomatoes to Eastern European.

In exchange, major commodities imported into Iran from the member states included nuclear reactor parts, field corn, sunflower oilseeds, barley, sheep carcasses and radio navigation devices.

In terms of total trade value, Russia topped the list among Eastern Europe countries with Iran trade standing at 2.23 million tons worth $1.38 billion, up by 37.28% and 57.57% in tonnage and value respectively YOY.

Exports to Russia amounted to 428,560 tons worth $246.45 million to register a 2.45% and 5.98% growth in tonnage and value respectively YOY.

Russia was Iran’s second export destination among countries under review and 16th in the whole world.

In return, Russia exported 1.8 million tons of commodities worth $1.13 billion to Iran, up by 49.35% and 76.12% in tonnage and value respectively YOY. The world’s largest nation was the top exporter of goods to Iran in the group and eighth among all countries.

Major Iranian commodities exported to Russia were kiwi, apples, tomatoes and pistachios.

Russia mainly exported nuclear reactor parts, field corn, barley and sunflower oilseed to Iran.

Azerbaijan was Iran’s second biggest trading partner in the Eastern European Group during the 11 months as two-way commercial exchanges stood at 803,100 tons worth $389.33 million to register a 27.61% and 29.66% growth in tonnage and value respectively YOY.

Iran exported 758,250 tons of goods worth $370.7 million to Azerbaijan, up by 33% and 33.34% in tonnage and value respectively YOY.

Azerbaijan was Iran’s top export destination in the group and 12th among all countries during the period.

Iran’s exports to Azerbaijan included liquefied natural gas, potatoes and chemicals.

Iran imported 44,849 tons of commodities worth $18.63 million from Azerbaijan, down 24.23% and 16.35% in tonnage and value respectively YOY, most of which were non-alloy semi-finished iron/steel products, oilcake and chemicals.

Azerbaijan was the 11th exporter of goods to Iran among the nations under review and 61st exporter to Iran among all countries.

Georgia was Iran’s third major trading partner among the member states. Trade between Iran and Georgia amounted to 480,198 tons worth $211.81 million, indicating a 63.48% and 51.32% increase in tonnage and value respectively YOY.

Iran’s exports reached 453,774 tons worth $149.02 million, up 77.84% and 86.47% in tonnage and value respectively YOY, while Georgia’s exports to Iran were at 26,424 tons worth $62.78 million, down by 31.52% in tonnage and up by 4.55% in value YOY.

Georgia was Iran’s third export destination as well as the third exporter of goods to Iran in the group. The country was Iran’s 25th export destination and 39th exporter to Iran among all countries.

Bitumen, iron/steel bars and pistachios were Iran’s main goods exported to Georgia, while Georgia exported mainly sheep carcasses, wood and yarn to Iran.

Ukraine was the second major exporter of goods to Iran after Russia in the group and 34th in the world, as Iran imported 174,109 tons worth $81.15 million from Ukraine during the 11-month period, down by 27.13% and 49.16% in tonnage and value respectively YOY.

Iran mainly imported sunflower oilseeds, field corn, steam turbine parts and rail equipment from Ukraine.

Highest Growths, Declines in Trade

Trade with Russia (at $1.38 billion), Georgia ($211.81 million) and Serbia ($30.95 million) saw the highest YOY growths of 57.57%, 51.32% and 48.49% respectively, while trade with Lithuania ($3.54 million), Ukraine ($108.52 million) and Romania ($71.41 million) witnessed the lowest declines of 72.41%, 41.43% and 36.5% respectively.

Iran’s exports to Croatia (at $3.55 million), Georgia ($149.02 million) and Serbia ($17.84 million) saw the highest growths of 214.47%, 86.47% and 65.62% respectively, while exports to Lithuania (at $1.99 million), Latvia ($157,288) and Czech Republic ($2.55 million) witnessed the highest declines of 74.87%, 48.99% and 47.98% respectively.

Imports from Russia (at $1.13 billion), Serbia ($13.1 million) and Latvia ($3.01 million) saw the highest growths of 76.12%, 30.16% and 14.92% respectively, while imports from Bosnia and Herzegovina (at $75,635), Lithuania ($1.54 million) and Romania ($24.92 million) witnessed the highest declines of 81.23%, 68.45% and 55.85% respectively.