60% of Iranian Imports From 5 Countries

EghtesadOnline: Close to 60% of Iran’s imports come from five countries.

News ID: ۷۷۴۱۰۷

21 February 2017

According to figures released by the Islamic Republic of Iran Customs Administration, more than 27.55 million tons of goods worth over $34.98 billion were imported during the 10 months to January 19.

Based on the report, China, the UAE, South Korea, Turkey and Germany were the main exporters of commodities to the country over the period, ISNA reported.

The biggest exporter to Iran was China with exports of over 3.6 million tons of goods worth $8.4 billion, accounting for 13% and 24% of Iran’s total imports in terms of weight and value respectively, Financial Tribune reported.

The UAE, the second biggest exporter, sold 4.4 million tons of goods ($5.47 billion) to Iran making up for 15% of the country’s imports in both weight and value.

South Korea, Turkey and Germany exported 1.2 million tons worth $2.8 billion, 1.32 million tons valued at $2.2 billion and 843,000 tons worth more than $1.96 billion to Iran over the same period respectively.

The main factor in successful foreign trade is diversity in the list of countries, to and from which exports and imports are made: The more a country’s trade partners, the lesser is the risk to foreign trade.