Iran's Non-Oil Trade With Caspian States Declines 50 Percent

EghtesadOnline: Iran traded 327,555 tons of non-oil commodities worth $129 million with Caspian Sea littoral states during the first Iranian month (March 21-April 20) to register a 7.71% rise in tonnage and a 49.59% decline in value compared with last year’s similar month.

News ID: ۷۴۷۴۴۱

28 May 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 165,577 tons worth $62.17 million during the month, indicating an 11.13% and 23.08% decline in tonnage and value respectively year-on-year.

Imports stood at 161,978 tons worth $66.92 million, up 37.5% in tonnage and down 61.81% in value YOY.

Located between Europe and Asia, the Caspian Sea, the world's largest lake, is bounded by Kazakhstan to the northeast, Russia to the northwest, Azerbaijan to the west, Iran to the south and Turkmenistan to the southeast, according to Financial Tribune.

Main Commodities, Trading Partners

Iran mainly exported potatoes, kiwis, tomatoes, machinery, cabbage, dates and pistachios to the Caspian states.

In exchange, major commodities imported into Iran from the Caspian Sea countries included field corn, sunflower oil, barley, radio navigation devices, soybean oil and sheep carcasses.

In terms of total trade value, Russia topped the list among Caspian countries with Iran trade standing at 213,886 tons worth $87.84 million, up by 48.45% in tonnage and down 54.61% in value YOY.

Exports to Russia amounted to 65,500 tons worth $25.71 million to register a 1.77% growth in tonnage and a 8.58% decline in value YOY.

Russia was Iran’s top export destination among the countries under review and 13th worldwide.

In return, Russia exported 148,386 tons of commodities worth $62.12 million to Iran, up by 86.15% in tonnage and down 62.44% in value YOY.

Russia was the top exporter of goods to Iran among Caspian nations and 10th in the world.

Major Iranian commodities exported to Russia were kiwi, tomatoes, cabbage, pistachios and dairy products.

In exchange, Russia mainly exported field corn, sunflower oil, barley and radio navigation devices to Iran.

Azerbaijan was Iran’s second biggest trading partner among Caspian nations during the one month to April 20, as two-way commercial exchanges stood at 34,837 tons worth $20.7 million to register an 11.63% and 2.7% decline in tonnage and value respectively YOY.

Iran exported 33,058 tons of goods worth $19.78 million to Azerbaijan, down by 11.28% and 2.68% in tonnage and value respectively YOY.

Azerbaijan was Iran’s second biggest export destination among these four countries and 14th in the world during the period under review.

Iran’s exports to Azerbaijan included machinery, potatoes and textiles. The country imported 1,779 tons of commodities worth $912,722 from Azerbaijan, down 17.6% and 3.04% in tonnage and value respectively YOY, which mainly included barley and sheep carcasses.

Azerbaijan was the fourth exporter of goods to Iran among the nations under review and 55th exporter to Iran in the world.

Turkmenistan was Iran’s third major trading partner among the states under review.

Mutual trade between Iran and Turkmenistan amounted to 35,422 tons worth $11.91 million, indicating a 14.29% and 44.24% decline in tonnage and value respectively YOY.

Iran’s exports reached 33,181 tons worth $11 million, down 19.46% and 48.47% in tonnage and value respectively YOY, while Turkmenistan’s exports to Iran were at 2,241 tons worth $915,037, up by 1,643.12% and 4,343.44% in tonnage and value respectively YOY.

Turkmenistan was Iran’s third export destination as well as the third exporter of goods to Iran among Caspian Sea states. The country was Iran’s 18th export destination and 54th exporter to Iran in the world during the one-month period.

Chemicals, flowers, resins and Portland cement were Iran’s main goods exported to Turkmenistan, while Turkmenistan mostly exported petroleum coke and linter.

Kazakhstan was Iran’s fourth and last trading partner among the Caspian Sea littoral states during the month, as two-way commercial exchanges stood at 43,410 tons worth $8.62 million to register a 45.26% and 56.67% fall in tonnage and value respectively YOY.

Iran exported 33,837 tons of goods worth $5.66 million to Kazakhstan, down 22.21% and 48.57% in tonnage and value respectively YOY.

Kazakhstan was Iran’s fourth export destination among Caspian states and 29th in the world during the period.

Iran’s exports to Kazakhstan mainly included dates, Portland cement, raisins and pistachios.

Iran imported 9,573 tons of commodities worth $2.96 million from Kazakhstan, down by 73.26% and 66.68% in tonnage and value respectively YOY, which mainly constituted barley, sheep carcasses and Eruca sativa.

Kazakhstan was the second exporter of goods to Iran among the nations under review and 35th exporter to Iran in the world.

Highest Growths, Declines in Trade

Transactions with all the four nations registered declines, such that trade with Kazakhstan ($8.62 million), Russia ($87.84 million), Turkmenistan ($11.91 million) and Azerbaijan ($20.7 million) saw the highest YOY declines of 56.67%, 54.61%, 44.24% and 22.25% respectively.

Iran’s exports to Kazakhstan ($5.66 million), Turkmenistan ($11 million), Russia ($25.71 million) and Azerbaijan ($19.78 million) saw the highest declines of 48.57%, 48.47%, 8.58% and 2.68% respectively.

This is while imports from Turkmenistan ($915,037) witnessed the highest growth of 4,343.44%, whereas imports from Kazakhstan ($2.96 million), Russia ($62.12 million) and Azerbaijan ($912,722) declined by 66.68%, 62.44% and 3.04% respectively.