23% Growth in Non-Oil Trade With Balkan States

EghtesadOnline: Iran traded 112,669 tons of non-oil commodities worth $141.2 million with Balkan countries during the first nine months of the current fiscal year (March 21-Dec. 21) to register a 0.55% and 23.02% growth in tonnage and value respectively compared with last year’s corresponding period.

News ID: ۷۸۴۴۶۲

08 January 2019

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports to the Balkan states totaled 95,488 tons worth $96.94 million during the period, indicating a 44.01% and 34.46% increase in tonnage and value respectively year-on-year. Imports stood at 17,181 tons worth $44.26 million, down in tonnage by 62.44% and up in value by 3.7% YOY.

Located in southeastern Europe, the Balkans, or the Balkan Peninsula is a geographic area in southeastern Europe with various disputed definitions. Six countries, namely Albania, Bulgaria, Bosnia and Herzegovina, Kosovo, Macedonia and Montenegro, are positioned entirely within the Balkans while more than 50% of land area of Croatia, Greece and Serbia are within the Balkans.

This report considers the abovementioned nine countries without taking into account countries whose land area located in the Balkans region is less than 50%, namely Italy (0.1%), Romania (5%), Slovenia (25%) and Turkey (3%), according to Financial Tribune.

Iran mainly exported polystyrene, polyethylene-grade film, dates, pistachio and sodium hydroxide to Balkan states.

In exchange, major commodities imported into Iran from the Balkan states included pumps, amino alcohol, peach, medicine and corn seeds.

Top Trading Partners

In terms of total trade value, Bulgaria topped the list among the Balkan countries with bilateral trade standing at 52,469 tons worth $58.73 million, down by 23.28% in tonnage and up by 17.53% in value YOY.

In fact, Bulgaria was Iran’s 57th trading partner in the world during the nine months.

Exports to Bulgaria amounted to 48,869 tons worth $49.31 million to register a 41.99% and 56.77% growth in tonnage and value respectively YOY. Bulgaria was Iran’s top export destination among the countries under review and Iran’s 38th export market in the world.

In return, Bulgaria exported 3,599 tons of commodities worth $9.42 million to Iran, down by 89.41% and 49.12% in tonnage and value respectively YOY. The East European country was the third exporter of goods to Iran among Balkan states and the 66th exporter of goods to Iran in the world.

Major Iranian commodities exported to Bulgaria were polystyrene, polyethylene-grade film, cloth, fibers and glass.

Bulgaria mainly exported tobacco, carton, hoist and pulley to Iran.

Bulgaria was Iran's top trading partner among the Balkan states during the period and the biggest export destination, while Greece was the major exporter to the Islamic Republic

Greece was Iran’s second biggest trading partner among Balkan states during the nine months. Two-way commercial exchanges stood at 29,474 tons worth $38.85 million, registering an 8.9% and 0.32% growth in tonnage and value respectively YOY. Greece was Iran’s 66th trading partner in the world during the period.

Iran exported 17,377 tons of goods worth $18.5 million to the country, up by 2.68% in tonnage and down 22.91% in value YOY. Greece was Iran’s second export destination among Balkan states and the 57th export destination in the world during the period. Iran’s exports to Greece included polyethylene-grade film, pistachios, polystyrene and floorings.

This is while Iran imported 12,096 tons of commodities worth $20.35 million from Greece during the same period, up 19.3% and 38.18% in tonnage and value respectively YOY, which mainly included amino alcohol, peach, medicine and cement sheets. Greece was the top exporter of goods to Iran among the Balkan countries and 56th exporter to Iran in the world.

Mutual trade between Iran and Serbia amounted to 14,435 tons worth $26.13 million, indicating a 64.62% and 89.96% increase in tonnage and value respectively YOY. Serbia was Iran’s third major trading partner among Balkan states and 71st in the world.

Iran’s exports reached 13,176 tons worth $14.46 million, up 77.35% and 88.13% in tonnage and value respectively YOY, while Serbia’s exports to Iran were at 1,258 tons worth $11.66 million, down by 6.02% in tonnage and 92.27% in value YOY.

Serbia was Iran’s third export destination as well as the second exporter of goods to Iran among Balkan states. It was Iran’s 63rd export destination and also the 63rd exporter to Iran in the world.

Polystyrene, dates, sodium hydroxide and mineral oils were Iran’s main goods exported to Serbia, while Serbia exported pumps, corn seeds, air conditioning parts, packaging materials and machinery to Iran.

Iran did not have any commercial exchanges with Kosovo and Montenegro during the period.