14% Growth in Iran's Non-Oil Trade With Balkan States

EghtesadOnline: Iran traded 180,429 tons of non-oil commodities worth $192.82 million with Balkan countries in the last Iranian year (ended March 20, 2019) to register a 21.03% and 14.58% increase in tonnage and value respectively compared with last year’s corresponding period.

News ID: ۷۴۷۳۰۷

12 May 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 159,553 tons worth $134.57 million during the year, indicating a 68.09% and 26.04% increase in tonnage and value respectively year-on-year.

Imports stood at 20,876 tons worth $58.24 million, down 61.45% and 5.31% in tonnage and value respectively YOY.

Located in southeastern Europe, the Balkans, or the Balkan Peninsula is a geographic area in southeastern Europe with various disputed definitions. Six nations, namely Albania, Bulgaria, Bosnia and Herzegovina, Kosovo, Macedonia and Montenegro, are located entirely within the Balkan region while more than 50% of land area of Croatia, Greece and Serbia are within the Balkans, according to Financial Tribune.

Countries whose land area in the Balkan region is less than 50% include Italy (0.1%), Romania (5%), Slovenia (25%) and Bulgaria (3%).

Main Commodities, Trading Partners

Iran mainly exported polystyrene, polyethylene grade film, urea, dates and pistachios to the Balkan states.

In exchange, major commodities imported into Iran from Balkan nations included pumps, chemicals, pharmaceuticals, peaches and tobacco.

In terms of total trade value, Bulgaria topped the list among Balkan countries with Iran trade standing at 75,771 tons worth $84.34 million, down by 10.76% in tonnage and up by 23.55% in value YOY.

Exports to Bulgaria amounted to 71,054 tons worth $70.08 million to register a 45.5% and 57.6% growth in tonnage and value respectively YOY.

Bulgaria was Iran’s biggest export destination among the countries under review and 35th worldwide.

In return, Bulgaria exported 4,716 tons of commodities worth $14.26 million to Iran, down by 86.93% and 40.07% in tonnage and value respectively YOY.

Bulgaria was the third exporter of goods to Iran among the Balkan states and 64th exporter to Iran in the world.

Major Iranian commodities exported to Bulgaria were polystyrene and polyethylene grade film.

Bulgaria mainly exported tobacco, carton, synthetic fibers, oil press machines and hoists to Iran.

Greece was Iran’s second biggest trading partner among Balkan nations during the 12 months, as two-way commercial exchanges stood at 66,555 tons worth $54.06 million to register a 70.89% growth in tonnage and 3.32% decline in value respectively YOY.

Iran exported 52,203 tons of goods worth $28.29 million to Greece, up by 126.3% in tonnage and down by 19.11% in value YOY.

Greece was Iran’s second top export destination among Balkan states and 53rd in the world.

Iran’s exports to Greece included urea, polyethylene grade film and pistachios. It imported 14,351 tons of commodities worth $25.77 million from Greece, down 9.61% in tonnage and up 23.05% in value YOY, which mainly consisted of chemicals, pharmaceuticals and peaches.

Greece was the top exporter of goods to Iran among the Balkan states and 54th exporter to Iran in the world.

Serbia was Iran’s third major trading partner among the countries under review.

Mutual trade between Iran and Serbia amounted to 19,062 tons worth $33.1 million, indicating a 49.87% and 34.6% increase in tonnage and value respectively YOY.

Iran’s exports reached 17,490 tons worth $18.78 million, up 56.89% and 48.78% in tonnage and value respectively YOY, while Serbia’s exports to Iran were at 1,572 tons worth $14.26 million, up by 0.07% and 19.64% in tonnage and value respectively YOY.

Serbia was Iran’s third export destination as well as the second exporter of goods to Iran among Balkan members. The country was Iran’s 64th export destination and 63rd exporter to Iran in the world.

Polystyrene, dates and ferrosilicon were Iran’s main goods exported to Serbia, while Serbia exported mainly pumps, cans, heating system parts and corn seeds.

Highest Growths, Declines in Trade

Trade with Croatia ($6.73 million), Serbia ($33.1 million) and Bulgaria ($84.34 million) saw the highest YOY growths of 39.75%, 34.6% and 23.55% respectively, while trade with Bosnia and Herzegovina ($4.09 million), Albania ($4.94 million) and Greece ($54.06 million) witnessed the lowest declines of 15.37%, 6.44% and 3.32% respectively.

Iran’s exports to Croatia ($3.65 million), Bulgaria ($70.08 million) and Serbia ($18.78 million) saw the highest growths of 181.33%, 57.6% and 48.78% respectively, while exports to Greece ($28.29) and Bosnia and Herzegovina ($4.02 million) and Albania ($4.94 million) witnessed the highest declines of 19.11%, 9.4% and 6.44% respectively.

Imports from Greece ($25.77 million) and Serbia ($14.31 million) saw the highest growths of 23.05% and 19.64% respectively while imports from Bosnia and Herzegovina ($75,635), Bulgaria ($14.26 million) and Macedonia ($734,165) witnessed the highest declines of 81.23%, 40.07% and 15.73% respectively.