SAEDNEWS: Islamic Republic of Iran Customs Administration (IRICA) has said the country's exports to the Eurasian Economic Union (EAEU) members in the 8 months of the current Iranian calendar year have registered an 11 percent growth.
New figures from the Islamic Republic of Iran Customs Administration (IRICA) show that Iran’s exports to Eurasian Economic Union (EAEU) member states reached $1.46 billion in the first eight months of the current Iranian calendar year (April–November), marking an 11% increase compared to the same period last year. Export volumes also rose 10%, reaching 3.888 million metric tons (mt), Press TV reported.
Shipments to Russia grew 12% in value and 9% in volume, while exports to Belarus jumped by more than 50% year-on-year over the same period.
IRICA data further revealed that Iran’s imports from the EAEU—which includes Russia, Kazakhstan, Kyrgyzstan, Armenia, and Belarus—totaled 5.5 million mt valued at $3.217 billion in the first eight months of the current Persian year. While import volumes fell 9%, their value increased 15% compared to last year.
Imports from Russia rose 13% in value, and shipments from Kazakhstan surged 84% during April–November.
Under a free trade agreement that took effect in May, Iran now enjoys tariff-free access for nearly 87% of its exports to EAEU states. Prior to this deal, trade operated under a preferential arrangement signed in Armenia in June 2017.
The trade boost coincides with Iran’s recent move to become an observer member of the EAEU, following an agreement signed during the bloc’s Supreme Council meeting in Saint Petersburg in December last year.
