Financial Tribune – Iran traded 10.81 million tons of non-oil commodities worth $6.33 billion with the VISTA group of countries in the last fiscal year (ended March 20, 2019) to register a 42.85% and 27.33% decline in tonnage and value respectively compared with the year before.
VISTA is an acronym referring to the emerging markets of Vietnam, Indonesia, South Africa, Turkey and Argentina. The concept was first proposed in 2006 by BRICs Economic Research Institute of Japan.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 9.1 million tons worth $3.37 billion during the last fiscal year, indicating a 45.05% and 32.68% decrease in tonnage and value respectively year-on-year.
Imports stood at 1.71 million tons worth $2.95 billion, down 27.4% and 20.08% in tonnage and value respectively YOY.
As a result, Iran recorded a non-oil trade surplus of $420.95 million with VISTA nations.