Iran Records $5.7m in Non-Oil Trade Surplus With Balkan States

EghtesadOnline: Iran recorded $5.75 million in non-oil trade surplus with countries in the Balkan region during the first month of the current fiscal year (March 21-April 20).

News ID: ۷۴۷۴۹۳

08 June 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran traded 12,623 tons of non-oil commodities worth $13.89 million with Balkan states during the month to April 20 to register a 4.58% and 11.99% decline in tonnage and value respectively compared with the same period of last year.

Iran’s exports totaled 11,193 tons worth $9.82 million during the month to April 20, indicating a 14.45% rise in tonnage and 13.66% decrease in value year-on-year.

Imports stood at 1,430 tons worth $4.06 million, down 58.54% and 7.69% in tonnage and value respectively YOY, Financial Tribune reported.

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 positioned entirely within the Balkans while more than 50% of land area of Croatia, Greece and Serbia are within the Balkans.

This report considers the abovementioned nine countries without taking into account countries whose land area in the Balkans region is less than 50%, namely Italy (0.1%), Romania (5%), Slovenia (25%) and Bulgaria (3%).

Main Commodities, Trading Partners

Iran mainly exported polyethylene grade film, polystyrene, polyethylene pipe, ferrosilicon, synthetic fibers and dates to the Balkan states.

In exchange, major commodities imported into Iran from Balkan nations included pumps, medicines, food products, rails and machinery.

In terms of trade value, Bulgaria topped the list among Balkan countries with Iran trade standing at 8,744 tons worth $8.27 million, up by 70.45% and 64.28% in tonnage and value respectively YOY.

Exports to Bulgaria amounted to 8,491 tons worth $7.52 million to register a 71.93% and 65.77% growth in tonnage and value respectively YOY.

Bulgaria was Iran’s top export destination among the countries under review and 26th in the whole world.

In return, Bulgaria exported 254 tons of commodities worth $748,176 to Iran, up by 32.35% and 50.66% in tonnage and value respectively YOY.

Bulgaria was the third exporter of goods to Iran among the Balkan states and 58th in the world.

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

Bulgaria mainly exported rails, tobacco and synthetic fibers to Iran.

Greece was Iran’s second biggest trading partner among Balkan nations during the month, as two-way commercial exchanges stood at 1,915 tons worth $2.56 million, registering a 55.59% and 33.13% decline in tonnage and value respectively YOY.

Iran exported 917 tons of goods worth $820,492 to Greece, down by 18.63% and 19.37% in tonnage and value respectively YOY.

Greece was Iran’s second top export destination among Balkan states and 46th in the world during the period.

Iran’s exports to Greece included polystyrene and pistachios.

Iran imported 998 tons of commodities worth $1.74 million from Greece, down 68.67% and 38.09% in tonnage and value respectively YOY, most of which constituted medicines and food products.

Greece was the top exporter of goods to Iran among the nations under review and 44th exporter to Iran in the world.

Serbia was Iran’s third major trading partner among Balkan states.

Mutual trade between Iran and Serbia amounted to 826 tons worth $2.06 million, indicating a 54.19% and 45.29% decrease in tonnage and value respectively YOY.

Iran’s exports reached 740 tons worth $552,952, down 57.3% and 79.4% in tonnage and value respectively YOY, while Serbia’s exports to Iran were at 87 tons worth $1.51 million, up by 21.37% and 38.96% 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 49th export destination and 47th exporter to Iran in the world.

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

Highest Growths, Declines in Trade

Trade with Croatia ($61,033) and Bulgaria ($8.27 million) saw the highest YOY growths of 13,167% and 64.28% respectively, while trade with Albania ($95,634), Macedonia ($326,166) and Serbia ($2.06 million) witnessed the lowest declines of 94.69%, 53.39% and 45.29%.

Iran’s exports to Croatia ($61,033) and Bulgaria ($7.52 million) saw the highest growths of 13,167% and 65.77% respectively, while exports to Albania ($95,634) and Serbia ($552,952) and Macedonia ($326,166) witnessed the highest declines of 94.69%, 79.4% and 53.39% respectively.

Imports from Bulgaria ($748,176) and Serbia ($1.51 million) saw the highest growths of 50.66% and 38.96% respectively while imports from Greece ($1.74 million) witnessed the highest decline of 38.09%.