Page 28 - IRANRptJun22

Iran records $401mn non-oil trade surplus in first two Persian months
In sanctions dodge Russia’s Kostroma strikes deal to export products via Iran
Iran says exports to Africa grew 107% in last Persian year
Iranian minister says $1bn export goal for Armenia
on Russia and Ukraine to achieve a peace at the negotiating table, Tehran has not condemned the Russian invasion, saying Nato bears much responsibility for creating a situation that sparked the conflict.
Non-oil trade between Iran and the rest of the world stood at $16.63bn in the first two months of the Persian calendar year (started March 21), providing Iran with a trade surplus of $401mn, according to data from Islamic Republic of Iran Customs Administration (IRICA) as cited by IRIB News.
Exports rose 37% y/y to $8.52bn. Imports gained by 24% y/y to $8.12bn. China was Iran’s largest trade partner. Exports to China reached $2.72bn, while imports from China stood at $2.12bn.
The United Arab Emirates, the main re-export hub in the Persian Gulf, was the largest supplier of goods to Iran in the two months, said IRICA. UAE exports to Iran amounted to $2.25bn. Iranian exports to the UAE were valued at $1.5bn. Iranian exports to Iraq amounted to $1.312bn in value and to Turkey and India $766mn and $290mn, respectively.
Imports from Turkey and Russia were valued at $875mn and $319mn, respectively, other cited data showed.
The Russian city and oblast of Kostroma have struck an agreement to export products via Iran, Rossaprimavera reported on May 5.
Iran’s southern ports are becoming an increasingly attractive option for Russian companies that are looking to bypass US and European sanctions. Islamic Republic of Iran Shipping Lines (IRISL) has expressed its readiness to facilitate the delivery of goods that would be loaded in the Russian city of Astrakhan on the Volga river, which flows into the Caspian Sea, the report noted.
Coordination with Iranian companies is to be carried out by the Russian Trade Representation in Iran.
Kostroma, located at the confluence of the Volga and Kostroma rivers, would look to ship woodworked and mechanical engineering products.
“A number of Iranian transport companies expressed their readiness to ensure the passage of goods from Kostroma through the territory of the the Russian Federation and Islamic Republic. In particular, PERSE International Forwarding Co. offered its services, as well as road carrier Faraz Rananjahan,” Rossaprimavera reported.
Iran’s exports to Africa grew by 107% during the last Persian calendar year (ended March 20), according to the director general of the Arab and African Office of Iran's Trade Promotion Organization.
Exports stood at around $1.195bn compared to $579mn in the previous Persian calendar year, Farzad Piltan said. The previous year was far more impacted by coronavirus pandemic effects than the last year.
Ghana ranked first on the list of Iran’s export markets in Africa at $353mn, while South Africa was second with $254mn and Nigeria was third with $125mn.
Iran’s imports from the African continent in the last Persian year stood at around $60mn, marking a 37% y/y decline.
Iran’s main suppliers in Africa were Tanzania, Ghana, Ethiopia, South Africa and Kenya.
An Iranian export goal of $1bn for Armenia is “achievable”, IRNA reported Iran’s Minister of Industry Mines and Trade Reza Fatemi Amin as saying in response to data showing the country’s exports to its small
28 IRAN Country Report June 2022 www.intellinews.com