Iran's Non-Oil Trade With Asia-Pacific States Exceed $3.4 Billion

EghtesadOnline: Iran traded 8.46 million tons of non-oil commodities worth $3.46 billion with the member states of United Nations’ Asia-Pacific region during the first Iranian month (March 21-April 20) to register a 3.29% rise in tonnage and 16.71% decrease in value compared with last year’s same month.

News ID: ۷۴۷۵۱۳

11 June 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 7.46 million tons worth $2.12 billion during the month, indicating a 1.65% growth in tonnage and 22.94% decline in value year-on-year.

Imports stood at 1 million tons worth $1.33 billion, up 17.37% in tonnage and down 4.34% in value YOY.

As a result, Iran recorded a non-oil trade surplus worth $798.31 million with the Asia-Pacific region during the month under review, Financial Tribune reported.

The United Nations Regional Groups are the geopolitical regional groups of member states of the United Nations. 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.

The Asia-Pacific Group (formerly the Asian Group) has 53 members (27.5% of all UN members) and is the second largest regional group by number of member states (one fewer than the African Group). Its territory is composed of much of the continents of Asia and Oceania.

Turkey participates fully in both WEOG and Asia-Pacific Group, but for electoral purposes is considered a member of WEOG only. Therefore, it is not included among nations surveyed in this report.

Main Commodities, Trading Partners

Iran mainly exported gas condensates, liquefied propane, low-density oils, methanol, non-alloy semi-finished iron/steel products, polyethylene grade film and bitumen to the member states of Asia-Pacific Group.

In exchange, major commodities imported into Iran from the member states included semi- and wholly-milled rice, auto parts, graphite electrodes used in furnaces, field corn and sugar.

In terms of total trade value, China topped the list in the Asia-Pacific Group with Iran trade standing at 3.11 million tons worth $1.14 billion, up by 61.88% in tonnage and down 15.27% in value YOY.

Exports to China amounted to 2.93 million tons worth $711.19 million to register a 69.91% increase in tonnage and 2.27% decrease in value YOY.

China was Iran’s top export destination among the countries under review as well as in the whole world during the month.

In return, China exported 177,510 tons of commodities worth $434.01 million to Iran, down by 9.12% and 30.44% in tonnage and value respectively YOY.

China was the top exporter of goods to Iran among the member states of the Asian-Pacific Group and also in the world.

Major Iranian commodities exported to China were liquefied propane, methanol and film grade polyethylene.

China mainly exported auto parts, graphite electrodes used in furnaces, chemicals, pipes, coal and coke to Iran.

The UAE was Iran’s second biggest trading partner in the Asia-pacific region during the month, as two-way commercial exchanges stood at 903,607 tons worth $568.38 million, down by 32.7% and 34.15% in tonnage and value respectively YOY.

Exports to the UAE amounted to 737,028 tons worth $230.56 million to register a 38.19% and 57.98% decline in tonnage and value respectively YOY.

The country was Iran’s fourth export destination among nations under review and fourth in the world during the period.

Iran’s exports to the UAE included low-density oils, mineral oils and bitumen. It imported 166,579 tons of commodities worth $337.82 million from the UAE, up by 10.85% and 7.41% in tonnage and value respectively YOY, which mainly consisted of graphite electrodes used in furnaces, butter, coal and machinery.

The UAE was the second exporter of goods to Iran among the nations under review and third in the world.

India was Iran’s third major trading partner in the Asia-Pacific region.

Trade between Iran and India amounted to 1.09 million tons worth $440 million, indicating a 13.34% and 36.34% increase in tonnage and value respectively YOY.

Iran’s exports reached 747,511 tons worth $116.72 million, down 15.93% and 46.78% in tonnage and value respectively YOY, while India’s exports to Iran were at 350,348 tons worth $323.27 million, up by 340.98% and 212.65% in tonnage and value respectively YOY.

India was Iran’s sixth export destination as well as the fourth exporter of goods to Iran in the region. The country was Iran’s seventh export destination and fourth exporter to Iran in the world.

Methanol, ethylene glycol and bitumen were Iran’s main goods exported to India, while India exported mainly semi- and wholly-milled rice, sugar, oilcake, aluminum oxide, tea and graphite electrodes used in furnaces.

Iraq was Iran’s second major export destination, after China, in the Asia-Pacific region and second in the world, as Iran exported 939,576 tons worth $388.54 million to Iraq during the one-month period, down by 3.14% and 1.08% in tonnage and value respectively YOY.

Iran mainly exported tomatoes, watermelon, low-density oils, mineral oils and cheese.

Exports to South Korea totaled 484,508 tons worth $250.07 million, indicating a 30.86% and 24.06% rise in tonnage and value respectively YOY. Major exports included gas condensates, copper concentrate and float glass. South Korea was Iran’s third major export destination among the nations under review as well as in the world.

Highest Growths, Declines in Trade

Trade with Uzbekistan ($22.27 million), Cyprus ($2.51 million) and Sri Lanka ($13.38 million) saw the highest YOY growths of 194.94%, 184.21% and 127.78% respectively, while trade with Japan ($2.09 million), the Philippines ($4.86 million) and Oman ($19.37 million) witnessed the lowest declines of 96.64%, 78.77% and 63.85%.

Iran’s exports to Sri Lanka ($8.9 million), Uzbekistan ($11.39 million) and Syria ($15.67 million) saw the highest growths of 356.09%, 165.25% and 29.4% respectively, while exports to Japan ($428,827), the Philippines ($80,430) and Tajikistan ($837,446) witnessed the highest declines of 98.94%, 85.94% and 79.61% respectively.

Imports from Turkmenistan ($915,037), Kuwait ($755,502) and Iraq ($5.69 million) saw the highest growths of 4,343%, 439.14% and 378.44% respectively while imports from Japan ($1.67 million), the Philippines ($4.78 million) and Indonesia ($1.94 million) witnessed the highest declines of 92.43%, 78.59% and 78.08% respectively.