Iran Accounts for 4.5% of Neighboring Countries’ Imports

EghtesadOnline: Iran accounted for as little as 4.5% (or $13.3 billion) of around $295 billion worth of imports of its seven neighboring countries, namely Iraq, Turkey, Armenia, Azerbaijan Republic, Turkmenistan, Afghanistan and Pakistan, in 2016.

News ID: ۷۷۹۱۴۳

13 September 2017

According to a report by Iran Chamber of Commerce, Industries, Mines and Agriculture, Iraq was the biggest neighboring export destination of Iranian products in 2016 with $6.13 billion, followed by Turkey with $3.24 billion. Iran is Iraq’s third biggest exporter after Turkey and China. This comes as Iran’s non-oil exports to Turkey constituted less than 2% of total imports by this country in 2016. Iranian traders exported nearly $2.45 billion to Afghanistan, about $796 million to Pakistan and $547 million to Turkmenistan in 2016. Azerbaijan Republic imported $359 million worth of non-oil goods from Iran in 2016. Iran was the sixth biggest exporter to Azerbaijan despite the fact that it constituted as little as 5% of $7 billion worth of imports of this country in 2016. Iran exported around $164 million to Armenia to become the third biggest exporter to the neighboring country after Russia and China, according to Financial Tribune.