Iran’s trade with UAE topped $16b last year

Financial Tribune – Iran’s non-oil trade with the UAE hit $16.83 billion in the last fiscal year (ended March 20, 2018), registering a 21.18% rise compared to the year before, Islamic Republic of Iran Customs Administration’s statistics show. Iran exported 18.08 million tons of commodities worth $6.76 billion to UAE during the period, down 4.68% and 9.59% in tonnage and value respectively year-on-year. The exported commodities mainly included gas condensate, hydrocarbon, low-density oil and related products. Meanwhile, 6.94 million tons of goods worth $10.06 billion were imported from the UAE to Iran last year, witnessing an increase of 55.25% in tonnage and 57.11% in value YOY. The main imports mainly included cellphones, steam turbine parts and wagons. The UAE has been acting as a reexport hub for commodities originating from other countries, including European ones, and destined for the Iranian market.