TEHRAN - Iran’s exports of non-oil commodities have increased by 40 percent during three years to March 2024, according to the Islamic Republic of Iran Customs Administration (IRICA).

According to the report, Iran's non-oil trade surged from $74 billion in 2020 to $116 billion in 2023, marking a 57 percent increase.

IRICA's report shows that the weight of non-oil trade reached 167 million metric tons (mts) in 2023, up from 147 million mts in 2020, representing a 20 percent increase. Additionally, the value of non-oil exports in the mentioned time shows substantial growth, reaching $49 billion in 2023, a 40 percent increase compared to the $35 billion recorded in 2020.

In terms of imports, Iran’s total imports amounted to $66 billion in the previous year. Notably, $2 billion was allocated to the import of gold bars, and $2.6 billion was spent on trucks and truck units, as reported.

Furthermore, Iran’s foreign trade with neighboring countries increased by 10 percent in 2023, surpassing $61 billion.

The transit of goods through Iran saw a significant increase, with 17.8 million mts transited in 2023, representing a 54 percent surge compared to the previous year.

Earlier this month, the deputy governor of the Central Bank of Iran (CBI) for economic affairs Mohammad Shirijian put the total trade turnover of the country in the previous Iranian calendar year at $180 billion.

Iran’s trade turnover reached $180 billion in the previous calendar year (March 21, 2023-March 19, 2024) based on the balance of payments of the bank, Shirijian told IRNA’s economy correspondent.

According to the balance of payments of the Central Bank of Iran, the Islamic Republic exported $100 billion worth of goods in the period, marking a three percent rise compared to the previous year, he added.

The official said that $80 billion worth of products were imported into the country in the said time, showing a 6.2 percent hike compared to the year before.

Iran’s trade with member states of the Organization of Islamic Cooperation (OIC) reached $61 billion last year.

EF/