Threefold Rise in Iran's Non-Oil Exports to the Americas

EghtesadOnline: Iran traded 203,123 tons of non-oil commodities worth $53.99 million with the Americas during the first Iranian month (March 21-April 20) to register an 86.25% growth in tonnage and 41.04% decline in value compared with last year’s same month.

News ID: ۷۴۷۵۳۷

12 June 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 197,762 tons worth $32.87 million during the month to April 20, indicating a 1,614% and 331% increase in tonnage and value respectively year-on-year.

Imports stood at 5,361 tons worth $21.11 million, down 94.5% and 74.86% in tonnage and value respectively YOY.

The Americas are the landmasses of North America and South America, at times collectively considered a single continent. The 35 sovereign states in the Americas make up most of the land on Earth's western hemisphere, according to Financial Tribune.

Main Commodities, Trading Partners

Iran mainly exported urea, raisins, dates, floorings, dried fruits and pistachios to the countries in the Americas.

In exchange, major commodities imported into Iran from the Americas included boneless frozen cow parts, food products, wood pulp, vegetable seeds and chemicals.

In terms of trade value, Brazil topped the list among the nations of the Americas with bilateral trade with Iran standing at 200,905 tons worth $46.34 million, up by 127.52% in tonnage and down 29.14% in value YOY.

Exports to Brazil amounted to 197,427 tons worth $32.28 million to register a 198,024% and 28,622% hike in tonnage and value respectively YOY.

The largest country in both South America and Latin America was Iran’s top export destination among the countries under review and 11th in the whole world.

In return, Brazil exported 3,478 tons of commodities worth $14.05 million to Iran, down by 96.06% and 78.47% in tonnage and value respectively YOY.

Brazil was the top exporter of goods to Iran among the countries in the Americas and 18th in the world.

Iranian commodities exported to Brazil mainly consisted of urea and raisins, while Brazil exported boneless frozen cow parts, orange juice, yarn and citrus fruits.

The US was Iran’s second biggest trading partner in the Americas during the month, as two-way commercial exchanges stood at 1,047 tons worth $4.73 million to register a 57.55% and 44.72% decrease in tonnage and value respectively YOY.

Iran exported 3 tons of goods worth $5,314 to the US, down by 96.13% and 99.59% in tonnage and value respectively YOY.

The US was Iran’s fifth export destination in the Americas and 91st in the world during the period under review.

Iran’s exports to the US included books, brochures, saffron and ship parts. It imported 1,044 tons of commodities worth $4.73 million from the US, down 56.3% and 34.8% in tonnage and value respectively YOY, which constituted food products, wood pulp, vegetable seeds and chemicals.

The US was the second exporter of goods to Iran among the countries under review and 30th exporter to Iran in the world.

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

Mutual trade between Iran and Canada amounted to 1,101 tons worth $2.68 million, indicating a 91.39% and 70.13% decrease in tonnage and value respectively YOY.

Iran’s exports reached 300 tons worth $502,000, down 97.31% and 90.65% in tonnage and value respectively YOY, while Canada’s exports to Iran were at 801 tons worth $2.18 million, down by 50.21% and 39.81% in tonnage and value respectively YOY.

Canada was Iran’s second export destination and the third exporter of goods to Iran in the Americas. Moreover, the country was Iran’s 51st export destination and 40th exporter to Iran in the world.

Dates, raisins, floorings, dried fruits and pistachios were Iran’s main goods exported to Canada, while Canada exported food products, wood pulp, calcium and pharmaceutical supplements to Iran.

Mexico was Iran’s third export destination among the nations and ranked 80th in the world, as Iran exported 12 tons worth $53,787 to Mexico during the one-month period, down by 93.2% and 93.48% in tonnage and value respectively YOY. Iran exported floorings to Mexico.

Highest Growths, Declines in Trade

Overall trade with all the countries in the Americas witnessed year-on-year declines, such that trade with Brazil ($46.34 million), USA ($4.73 million) and Canada ($2.68 million) witnessed the lowest declines of 29.14%, 44.72% and 70.13% respectively.

Iran’s exports to Brazil ($32.28 million) saw the highest growth of 28,622.77% while exports to the US ($5,314), Mexico ($53,787) and Canada ($502,000) witnessed the highest declines of 99.59%, 93.48% and 90.65% respectively.

Imports from all the nations witnessed a decline YOY, such that imports from Paraguay ($41,018), Uruguay ($80,620) and Mexico ($16,389) witnessed the biggest declines of 99.32%, 94.85% and 92.95% respectively.