TEHRAN – Iran's trade with neighboring countries account for 40 percent of the county’s total annual trade and the amount will rise if the service sector is also taken into account, Valiollah Afkhamirad, Director of Trade Promotion Organization of Iran said.

“It is economical for us to export our products to neighboring countries first since no heavy transportation cost is imposed on them”, Director of Trade Promotion of Iran, IRIB quoted Afkhamirad as saying on Sunday.

“Our neighbors have different import needs depending on their own situation,” he said, adding: “Afghanistan and Iraq import construction materials, home appliances, and food products.”

According to official statistics related to the first four months of the current Iranian calendar year (started on March 21), more than 50 percent of Iran’s exported goods was sent to neighboring countries compared to the country’s 30 percent import from the countries.

Iran has set a target of $77.5 billion in non-oil exports for the current Iranian calendar year, according to Mojtaba Khosrotaj, the Iranian deputy industry, mining, and trade minister.  

Iran’s total non-oil exports hit $49.744 billion in the previous Iranian calendar year, showing 18.87 percent rise from $41.848 billion in its preceding year, according to the Iran Customs Administration.   

The country’s non-oil imports reached $52.477 billion in the past year, with 5.57 percent growth compared to the year before.   

AK/