Iran's Trade With Romania Reaches $97m in Three Quarters

EghtesadOnline: Iran and Romania traded a total of $97 million worth of commodities during the first three quarters of 2019 to register an 80% decline compared with the $485 million recorded in the corresponding period of 2018, according to the deputy head of Iran Chamber of Commerce, Industries, Mines and Trade for international affairs.

News ID: ۷۸۵۳۰۴

25 January 2020

“Our main imports from Romania include raw industrial materials, metallic minerals, oil products and plastic artifacts. In return, we export technical and engineering services, construction materials, oil and gas, processed food and dairy and seafood to the east European country,” Mohammad Reza Karbasi was also quoted as saying by ICCIMA’s news portal.

Gateway to Balkan Region

Speaking at a meeting of newly-founded Iran-Romania Economic Committee, he noted that Romania could provide Iran with the opportunity to export to the Balkan states, Financial Tribune reported.

Data released by the Islamic Republic of Iran Customs Administration show Iran traded 180,429 tons of non-oil commodities worth $192.82 million with the Balkan countries during the last Iranian year (ended March 20, 2019) to register a 21.03% and 14.58% increase in tonnage and value respectively compared with the previous year's corresponding period.

Iran’s exports totaled 159,553 tons worth $134.57 million during the year, indicating a 68.09% and 26.04% increase in tonnage and value respectively year-on-year.

Imports stood at 20,876 tons worth $58.24 million, down 61.45% and 5.31% in tonnage and value respectively YOY.

Located in southeastern Europe, the Balkans, or the Balkan Peninsula is a geographic area in southeastern Europe with 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.

The trade figure, based on IRICA data, considers the abovementioned nine countries without taking into account states whose land area in the Balkans region is less than 50%, namely Italy (0.1%), Romania (5%), Slovenia (25%) and Bulgaria (3%).

Iran mainly exported polystyrene, polyethylene grade film, urea, dates and pistachios to the Balkan states.

In exchange, major commodities imported into Iran from Balkan nations included pumps, chemicals, pharmaceuticals, peaches and tobacco.