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But the IMF also noted that Tehran was having difficulty accessing some of its reserves as its relations with foreign banks were constrained by the threat of US sanctions. Meanwhile, sanctions could cut the current account surplus sharply given the severe disruption they are causing to trade.
5.1.2 Import/export dynamics
Tajikistan significantly increased exports to Iran in 1H22
Iran’s polymer exports reach $3.3bn in previous Persian year
Tajik exports to Iran amounted to $61mn in 1H22, 12 times higher y/y, Trend reported on July 22, citing the Tajik Customs Service.
Tajikistan exported $58.6mn worth of cotton to Iran during the reporting period, up 17 times y/y.
Tajikistan imported goods from Iran with a value of $55mn in January-June, slightly more than twice the figure recorded a year ago.
Trade turnover between Tajikistan and Iran in 1H22 increased 3.7 times y/y. The two countries, which are the world's only Persian-speaking nations, have grown closer politically and economically in the past year. The US pullout from Afghanistan in August last year, leaving the countries' common neighbour Afghanistan more of a threat on their doorstep, was one driver of better relations.
Iran exported more than $3.32bn of polymer products in the past Persian calendar year (ended March 20), up 23% y/y, according to the Iranian National Plastics and Polymers Industries Association (INPIA).
Iran’s semi-privatised petrochemical industry continues to strive to reach new markets, with the Russian Federation likely to offer some new opportunities given the trade relationships Russia has lost due to Ukraine war sanctions, the industry body said.
25 IRAN Country Report August 2022 www.intellinews.com