33% Rise in Trade With Oman

EghtesadOnline: Iran and Oman traded 2.29 million tons of commodities worth $593 million during the first nine months of the current Iranian year (March 20, 2020-Jan. 19), showing a 33% increase in value compared with the similar period of last year, according to the chairman of Iran-Oman Chamber of Commerce.

News ID: ۷۸۶۰۲۱

16 February 2021

“Iran’s exports amounted to 1.26 million tons worth $274.65 million, registering a 16% YOY decline,” Mohsen Zarrabi was also quoted as saying by Fars News Agency.

The official noted that imports stood at 979,101 tons worth $318.43 million.

Zarrabi said there are many reasons for the decrease in Iran’s exports to the neighboring Oman, the main ones being the Central Bank of Iran’s directives, export earning repatriation in particular, forex regulations and bans on the export of different commodities by local officials.

Referring to shipping routes between the Iranian ports of Jask, Shahid Bahonar, Shahid Rajaee and Khorramshahr and Omani ports of Al Suwaiq, Shinas, Sohar and Sultan Qaboos Port, Zarrabi said, “Almost all countries closed their borders with Iran following the spread of the new coronavirus. However, Oman increased its shipping lines with Iranian ports to reduce the transportation costs of its imports.”

Before the outbreak, there were nine direct flights from the Iranian cities of Tehran, Isfahan, Shiraz, Chabahar, Qeshm, Kish, Mashhad, Lar and Lamerd to Oman’s Muscat. At present, Oman has closed all its air routes to control the spread of the virus.