Page 28 - IRANRptSep22

Iran’s polymer exports reach $3.3bn in previous Persian year
Iran’s trade with Caspian Sea states up 10% y/y in first two Persian months
Latest data shows big gains in trade between Iran and Turkey and EU
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.
INPIA director Barmak Ghanbarpour said that Iran’s polymer industry accounted for 7% of the total value of the country's industrial non-oil exports in the previous Persian year.
The industry has around 8,000 production units with a total production capacity of 13mn tonnes annually, he added.
Ghanbarpour also noted that the annual import of raw materials by Iran’s polymer industry stood at around 5mn tonnes.
Iran's trade volume with the other four Caspian Sea littoral states—Russia, Kazakhstan, Turkmenistan and Azerbaijan—increased by 10% y/y to $897.7mn in the first two months of the current Persian calendar year (March 21 to May 21), according to the Islamic Republic of Iran Customs Administration (IRICA).
Exports to the coastal neighbours amounted to $263.2mn, up 17% y/y.
The value of imports was $634.5mn, marking a 49% y/y gain.
With Iran remaining under heavy US sanctions, Iran’s Raisi administration has prioritised building up trade with the country’s near-abroad.
In terms of export destination, Azerbaijan was top ($114.9mn), followed by Russia ($68.5mn), Turkmenistan ($58.6mn) and Kazakhstan ($20.8mn). Russia was the main source of imports flowing from the Caspian Sea neighbours, with the value of shipments amounting to $319mn.
Big gains in trade between Iran and Turkey and Iran and the European Union are seen in latest official data.
Iran exported commodities worth $1.23bn to neighbouring Turkey in the four months to April 30, marking a 60% y/y rise, while exports from Turkey to Iran moved up 18% y/y to $944mn in the same period. The figures were released by the Turkish Statistical Institute (TUIK, or TurkStat). Trade overall increased 38% y/y to $2.18bn.
Machinery and equipment were among top exports sent by Turkey to Iran, while substantial shipments of copper and plastics were sent the other way by the Iranians.
Separately, the European Union's statistics office Eurostat released data showing the value of Iran’s exports to the bloc’s member states rose 37% y/y to €362mn in January to April.
EU exports to Iran gained by 10% y/y to €1.3bn.
Iran-EU four-month trade thus stood at €1.7bn, up 15% y/y.
Germany was Iran’s top EU trade partner, accounting for 38% of Iran’s total trade with the union.
Trade between Iran and the European Union reached a value of €4.86bn in
28 IRAN Country Report September 2022 www.intellinews.com