Iran ranks 2nd in ECO $845bn foreign trade

EghtesadOnline: Iran Customs Administration has announced that volume of trade of the Economic Cooperation Organization (ECO) stood at $845.247 billion in 2015 and Iran managed to reserve second rank in the ECO region in terms of foreign trade.

News ID: ۷۷۰۲۳۱

11 October 2016

Iran Customs Administration said ECO exports and imports were worth $411.728 billion and $433.519 billion respectively in 2015.

In 2015, Turkey with foreign trade value of $399.794 billion reserves highest share in the ECO trade. The country exports and imports were $157.617 billion and $242.177 billion respectively, reports IRNA.

Textile, cotton and fabrics, iron and steel products, and machinery were major exported items while mineral fuel and oil, gas, machinery, chemical substances and plastics were major imported items of Turkey in the year.

The Islamic Republic of Iran with a foreign trade of $139.8 billion stood second in the list of the ECO trade.

Iran's exports were as much as $88.8 billion while its imports were $51 billion. Oil, gas, petrochemicals, mineral substances, and foodstuffs were major export items while machinery, vehicles, animal products, chemical substances, beans, and auto spare parts were major imported items.

Kazakhstan, Azerbaijan, Pakistan, Turkmenistan, Uzbekistan, Kyrgyzstan, Tajikistan and Afghanistan followed Iran in the list.

Based on the report, Iran's Customs Administration will host the 7th Meeting of the Council of heads of Custom Administration (CHCA) in Tehran late October.

The meeting is to focus on customs cooperation, e-information sharing and facilitation of trade as well as campaign against smuggling.