TEHRAN – Iran’s non-oil trade exceeded $117 billion in the first 11 months of the current Iranian calendar year (late March 2024- late February 2025), with exports surpassing $53 billion, marking the highest level in two years, according to the spokesperson for the International Relations and Trade Development Commission of Iran House of Industry, Mine, and Trade.
Citing customs data, Ruhollah Latifi stated that this figure represents an $8.5 billion increase compared to the same period last year and is $4.5 billion higher than the record set in the first 11 months of 2022.
Latifi predicted that Iran’s non-oil exports in the upcoming year could reach around $58 billion, surpassing the previous record from 2022.
Exports to Eurasian union grow 22%
As reported, exports to Eurasian Economic Union (EAEU) member states also rose by 22 percent in the first 10 months of the current year compared to the same period last year, according to the Director General for Central Asia, the Caucasus, and Russia at Iran’s Trade Promotion Organization (TPO).
Akbar Godari told IRNA that Iran’s exports to the EAEU totaled $1.631 billion during this period, up from $1.338 billion the previous year.
He added that imports from the bloc stood at $1.274 billion, down 22% from the $1.627 billion recorded last year.
Russia and Armenia were Iran’s top export destinations within the EAEU, with exports to Russia amounting to $889 million and to Armenia reaching $402 million. In contrast, Iran’s lowest export volumes were to Belarus at $17 million and Kyrgyzstan at $95 million.
Godari noted that Russia and Kazakhstan were Iran’s largest import sources within the EAEU, with Russia accounting for $1.154 billion and Kazakhstan for $47 million of total imports.
Reviewing trade trends from 2021 to 2023, he stated that Iran’s exports to the EAEU stood at $1.165 billion in 2021, rising to $1.517 billion in 2022 and $1.702 billion in 2023. Over the past three years, Iran’s total imports from the EAEU reached approximately $5.433 billion.
Godari highlighted the importance of the recently signed free trade agreement with the EAEU, emphasizing that its implementation would reduce tariffs and facilitate trade, boosting Iran’s share in the bloc’s market.
SOURCE: TEHRAN TIMES
