Iran's Trade With Africa Tops $770m in Eight Months

EghtesadOnline: Trade between Iran and African countries stood at 1.73 million tons worth $773 million during the current Iranian year’s first eight months (March 21-Nov. 21).

News ID: ۷۸۷۴۸۸

25 December 2021

Ghana with 450,793 tons worth $273.03 million, South Africa with 403,901 tons worth $149.47 million, Nigeria with 197,966 tons worth $84.82 million, Algeria with 95,380 tons worth $66.61 million and Kenya with 125,400 tons worth $51.13 million were the main trade partners during the period.

Data released by the Islamic Republic of Iran Customs Administration show Iran exported 1.69 million tons of goods worth $741.21 million to the African continent during the period while imports amounted to 38,831 tons worth $31.79 million.

Iran’s main export destinations in Africa were Ghana with 448,312 tons worth $268.43 million, South Africa with 403,056 tons worth $146.21 million, Nigeria with 197,966 tons worth $84.82 million, Algeria with 95,380 tons worth $66.61 million and Kenya with 124,429 tons worth $47.46 million.

Ivory Coast, Djibouti, Algeria, Egypt, Guinea, Libya, Morocco, Mali, Macao, Mauritania, Mauritius, Mozambique, Nigeria, Sudan, Senegal, Somalia, Togo, Tanzania, Uganda, South Africa, Zambia, Ethiopia, Tunisia and Rwanda were other customers of Iranian goods.

Tanzania topped the list of African countries in terms of exports to Iran during the period, as a total of 25,812 tons worth $6.99 million worth of goods were imported from Tanzania to Iran.

Ethiopia came next with 6,274 tons worth $6.77 million, followed by Ghana with 2,481 tons worth $4.61 million and Kenya with 971,401 tons worth $3.67 million.

With 54 countries, Africa is the second largest continent with a population of around 1.3 billion and has a higher economic growth compared to the world average.

According to Farzad Piltan, director general of Trade Promotion Organization of Iran's Arab and African Affairs Department, Iran exported $580 million worth of goods to Africa in the last fiscal year (ended March 20, 2021).

Ghana, Algeria, Kenya, South Africa, Somalia, Tanzania, Cameroon, Mozambique, Nigeria and Ivory Coast were the main export destinations.

Steel and iron semi-finished products and ingots, urea, rebar, cement, raisins, food pastes, sweets, chocolate, biscuits, pistachios and floor coverings were the main goods exported to Africa.

Iran’s fiscal 2020-21 imports from Africa stood at $96 million. The imported goods mainly included feed corn, manganese ore and concentrate, tobacco, tea, tuna, mining machinery and equipment, essence and herbs, zinc ore and fruit seeds.

Swaziland, Tanzania, Ghana, South Africa, Zimbabwe, Kenya, Ethiopia, Egypt, Morocco and Sudan were the main exporters to Iran.

Iran’s exports to African countries registered an 8% and 14% decline in tonnage and value respectively compared with the previous fiscal year, according to the Islamic Republic of Iran Customs Administration.