Iran's Trade with Caspian States Hits 2.21 Billion Dollars in 7 Months
Iran’s Customs Administration announced that the country’s Iran's trade (excluding crude oil exports) with Caspian Sea littoral states reached 4.06 million tons worth $2.21 billion in the first seven months of the current fiscal year (March 21-Oct. 22), registering a 2.26% decrease in terms of weight, but a 23.25% increase in terms of value year-on-year.
Russia was Iran’s main trading partner among Caspian states with 2.3 million tons worth $1.32 billion during the period under review followed by Azerbaijan Republic with 459,974 tons worth $443.31 million, Turkmenistan with 797,977 tons worth $268.07 million, and Kazakhstan with 508,724 tons worth $181.28 million.
Iran’s exports exceeded 2.28 million tons worth $1.16 billion during the period, registering a 6.7% and 36.22% rise in terms of weight and value year-on-year, respectively.
The Caspian Sea littoral states include Iran, Russia, Azerbaijan, Kazakhstan and Turkmenistan – countries rich with energy resources such as oil and gas.
Russia and Iran agreed earlier this year to expand the use of their national currencies in trade.
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