Iran's Trade With Armenia Tops $100m in January-April

EghtesadOnline: Iran’s commercial exchanges with Armenia stood at $101.06 million during January-April to register a 0.37% decline compared to the corresponding period of 2019.

News ID: ۷۵۰۲۴۸

15 June 2020

Latest data released by the Statistical Committee of the Republic of Armenia shows Iran exported $73.18 million worth of goods to Armenia during the four months to April 30, indicating a 12.43% year-on-year decrease.

Imports from Armenia stood at $27.88 million in the four months, up by 56.02% YOY.

A total of $73.22 million worth of commodities were reexported from Iran to Armenia during the same period, down 12.91% YOY.

Bilateral trade in April stood at $26.46 million, down 8.25% YOY.

Iranian exports during the month hit $17.68 million, down 13.1% YOY, while imports stood at $8.78 million, indicating a 3.36% increase YOY.

Iran’s reexports to Armenia in April totaled $17.65 million, down 12.88% YOY.

Iran-Armenia trade amounted to $408.77 million in 2019, registering a 12.44% rise compared to the year before.

Iran exported only $324.92 million worth of goods to Armenia last year, up by 20.64% YOY.

Imports from Armenia totaled $83.85 million in 2019, down by 10.99% YOY.

Armenian Ambassador to Iran Artashes Toumanian in a meeting with the head of Trade Promotion Organization of Iran, Hamid Zadboum, last month underlined the necessity of reviving trade relations between the two countries affected by the coronavirus outbreak.

In the meeting in Tehran, Toumanian expressed his country's willingness to expand trade ties with Iran and swap goods with the country, Fars News Agency reported

"Armenia is interested in expanding trade relations with Iran more than before," he said.

"Commercial exchanges between the two countries should be revived by returning trade activities and relations to pre-coronavirus conditions and swapping goods."

Toumanian also called for more information on Iran's capabilities for exporting anti-coronavirus products.

According to the head of Food and Drug Administration of Iran, the ban on exports of medical and hygienic products related to coronavirus was lifted recently.

Mohammad Reza Shanehsaz added that several countries are willing to import products that are essential in the fight against coronavirus, including N95 masks, personal protective equipment and disinfectants from Iran.

“The Ministry of Industries, Mining and Trade will facilitate the export of these products as well as other medical equipment and pharmaceuticals, the forex requirements of which are met via the secondary forex market, known by its Persian name Nima,” he was quoted as saying by IRIB News.

Zadboom noted that "we still expect to see the expansion of trade between the two countries due to the great potential of cooperation between the two sides".