Iran’s Exports to Africa Surpasses 1 Billion Dollars
Iran and Africa traded 2.29 million tons of commodities worth $1,093,875,996 in the first ten months of the current year, Vice-Chairman of Iran and Africa Merchants Club Rouhollah Latifi said.
He added that 96.5 percent of the total weight of the traded goods was related to the Iranian exports to Africa, while 93.5 percent of the total value was also gained by the Iranian exporters.
He named South Africa, Mozambique, Ghana, Sudan, and Nigeria as the main export destinations for Iranian products while Tanzania, Kenya, South Africa, Ghana, and Seychelles were the major sources of imports among the African countries in the period under review.
Latifi underlined that Iran's business relations with African countries are on the path of growth, adding that last year trade between Iran and Africa reached $1.250 billion with a 100 percent growth, and considering the current trend of trade with the African continent the figure is expected to reach $1.7 billion by the end of the current year (March 20, 2023).
Iran enjoys political relations with 47 out of 54 African countries; a continent with a very large export capacity which is nearly untouched by Iran's exporters. East Africa is the closest region in Africa to Iran and therefore, it is considered a suitable market for Iran's exports after the neighboring countries.
In East Africa, an economic bloc has been formed with participation of six countries of Kenya, Congo, Uganda, Rwanda, Tanzania and Sudan, and entering this market can have many advantages for Iran.
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