Page 28 - IRANRptOct21

Iran’s non-oil trade with EEU bloc jumps 93% y/y in first four Persian calendar months
Iran’s non-oil trade with member states of the Eurasian Economic Union (EEU) reportedly exceeded $1.6bn in the first four months of the current Iranian calendar year (March 21-July 22), marking a 93% gain on the same period of 2020, a period that felt considerable trade impacts caused by The figures were relayed by state news agency IRNA.
It cited Hossein Kakhaki, director general of the International Cooperation Department of the Islamic Republic of Iran Customs Administration (IRICA), as saying that of the $1.6bn total, Iranian exports made up a value of $385mn, representing an improvement of 46% y/y.
Breaking down the exports, $188.9mn was the value of commodities shipped to the Russian Federation, $83.0mn was attributed to goods sent to Armenia, $53.4mn referred to Kazakhstan, $24.2mn to Kyrgyzstan and $6.6mn to Belarus.
Iran’s imports from the bloc stood at $1.25bn in the four-month period, according to the official. By country, the breakdown was Russian Federation $1.06bn, Kazakhstan $178.7mn, Belarus $8.3mn, Armenia $2.2mn and Kyrgyzstan $216,000.
Iran and the EEU reached an interim free trade agreement in October 2018 based on which around 862 commodities were given preferential tariffs. Tehran says the boost in trade it has enjoyed with EEU states in recent years has helped it counter some of the economic damage caused by US sanctions.
5.3 FDI
Iran FDI 2012 2013 2014 2015 2016 2017 2018 2019
FDI net inflows (BoP) (USD bn)
4.662 3.05 2.105 2.05 3.372 5.019 2.373 1.508
FDI net inflows (% of GDP)
0.778 0.653 0.487 0.533 0.807 1.127 0.523 0.2
FDI net outflows (% of GDP)
0.226 0.04 0.001 0.031 0.025 0.017 0.016
source: World Bank, CEIC
UNCTAD data ‘shows Iran’s FDI inflow fell 11% in 2020’
Iran saw a foreign direct investment (FDI) decline of around 11% y/y in 2020, according to United Nations Conference on Trade and Development (UNCTAD) data cited on June 23 by Tehran’s Financial Tribune. Information in UNCTAD’s World Investment Report 2021 reportedly showed the UN agency assessing Iran’s FDI inflow at $1.34bn compared to $1.508bn in
28 IRAN Country Report October 2021 www.intellinews.com