Trade with Islamic World Registers 25% Growth in 2022: OIC

The Organization of Islamic Countries (OIC) announced a 25-percent growth in the trade between Iran and other Muslim countries in 2022, introducing Iran as the 12th largest trader in the Islamic world.

News ID: ۸۲۴۸۰۹

13 February 2024

EghtesadOnline: In its latest report on the trade situation in the Islamic world, the organization put the growth in the value of the trade exchanges between Iran and other Muslim countries in 2022 at 25 percent.

The report put the total value of the trade exchanges among member states of the organization in 2021 at over $735 billion.

According to the estimates, the value of trade exchanges among 57 member states of the organization increased to $873 billion in 2022.

The total value of Iran’s trade exchanges with Islamic countries in 2022 exceeded $15.543 billion, showing a 25-percent growth compared to a year earlier, which stood at over $12.460 billion.

According to this report, Iran’s trade exchanges with Islamic countries have increased by 45% in the administration of President Ebrahim Raisi, growing from $10 billion in 2020 to more than $15 billion in 2022.

The report also showed that Iran’s exports to Islamic countries registered an 18-percent hike in 2022 compared to a year before.

Iran imported more than $7 billion worth of products from the countries of the Islamic world in 2022, showing a 32-percent growth compared to a year earlier, the report added. / Tasnim