Iran’s trade value with ECO rises by over 9% since March

Trade between Iran and the Economic Cooperation Organization’s member states reached 16.71 million tons worth $12.8 billion during the current Iranian year’s first nine months (March 21-Dec. 21), registering a 28.06% fall in terms of weight, but a 9.01% rise in terms of value compared with last year’s corresponding period, latest data released by the Islamic Republic of Iran Customs Administration show.

Turkey was Iran’s main trade partner among the countries under review with 8.37 million tons (down 42.74%) worth $8.28 billion (down 43.35%). It was followed by Pakistan with 3.04 million tons (up 28%) worth $1.67 billion (up 52.26%) and Afghanistan with 2.51 million tons (down 24.6%) worth $1.23 billion (down 13%).

Iran’s exports to ECO members reached 13.09 million tons worth $7.38 billion during the nine months ending Dec. 21, registering a 34.05% and a 3.3% decline in terms of weight and value YOY, respectively.

Turkey with 5.7 million tons (down 51.2%) worth $3.82 billion (down 7.48%), Afghanistan with 2.5 million tons (down 24.91%) worth $1.21 billion (down 13.91%) and Pakistan with 2.44 million tons (up 12.78%) worth $1 billion (up 10.71%) were the top export destinations, Financial Tribune reported.

Imports hit 3.62 million tons worth $5.42 billion during the period to register a 7.11% and a 31.9% growth in terms of weight and value YOY, respectively.

Turkey was also the main exporter to Iran with 2.66 million tons (down 9%) worth $4.45 billion (up 31.17%). It was followed by Pakistan with 599,059 tons (up 189.58%) worth $666.58 million (up 243%) and Kazakhstan with 240,209 tons worth $106.97 million.

Trade between Iran and ECO surged by 43% to stand at 30.87 million tons worth $16.79 in the fiscal 2021-22. Iran’s exports stood at 26.42 million tons worth $10.85 billion while imports from ECO members hit 4.45 million tons worth $5.94 billion.

The Economic Cooperation Organization is an Asian political and economic intergovernmental organization, which was founded in 1985 in Tehran by the leaders of Iran, Pakistan and Turkey. It provides a platform to explore ways of improving development and promoting trade and investment opportunities.

The first meeting of the Economic Cooperation Organization's Permanent Representative Council in 2023 was held in Tehran on Jan. 11.

"Within the framework of Azerbaijan's chairmanship to the Economic Cooperation Organization in 2023, the first meeting of the oganization's Permanent Representative Council for the 2023 year was held today in Tehran," Azerbaijan’s Embassy in Iran wrote on its Twitter page.