China remains Iran’s biggest trade partner.
Gas condensate was the main exported commodity ($4.5 million) and field corn was the main import ($679 million).
Iran’s non-oil foreign trade during the seven months of the current Iranian year (started March 20) stood at $48.708 billion.
According to the latest report released by the Islamic Republic of Iran Customs Administration, non-oil commodities worth $24.657 billion were exported during the seven-month period, registering a 4.34% rise compared with the corresponding period of last year. Gas condensate was the main exported commodity ($4.05 million), making up for 16.43% of the export value. It was followed by liquefied natural gases ($1.952billion), petroleum gases and liquefied hydrocarbons ($888 million), light crude oil, excluding gasoline ($828 million) and liquefied propane ($694 million). China was the biggest customer of Iranian products during the seven-month period as Iran exported $4.438 billion worth of goods to the Asian country, 2.48% less than last year's corresponding figure. Other major export destinations included the UAE with $3.887 billion, Iraq with $3.509 billion, Turkey with $2.505 billion and South Korea with $1.958 billion. The value of exports to Turkey and South Korea indicates an increase of 11.34% and 786% respectively over last year, whereas exports to the UAE and Iraq had a 17.37% and 2.44% decline.
Imports stood at $24.051 billion, indicating a 0.10% decline year-on-year. The main imports included field corn ($679 million), soybean ($534 million), rice ($508 million), auto parts (for automobile production) ($498 million) and different types of vehicles ($407 million). Major exporters to Iran included China ($5.711 billion, -5.54%), the UAE ($4.098 billion, -13.09%), South Korea ($1.885 billion, -13.54%), Turkey ($1.555 billion, 15.26%) and Germany ($1.275 billion, +25%).
Iran’s non-oil foreign trade stood at $81.38 billion for the past Iranian fiscal year (March 2015-16). Imports amounted to $40.13 billion—down 22.77% compared with the preceding year. These mainly originated from China, the UAE, South Korea, Turkey and Switzerland. Exports reached $41.24 billion, indicating a 16.3% drop. China, Iraq, the UAE, Afghanistan and India were the main export destinations.