23 Nov 2024
Tuesday 21 February 2017 - 15:41
Story Code : 252055

60% of Iranian imports from 5 countries

Financial Tribune- Close to 60% of Irans imports come from five countries. According to figures released by the Islamic Republic of Iran Customs Administration, more than 27.55 million tons of goods worth over $34.98 billion were imported during the 10 months to January 19.

Based on the report, China, the UAE, South Korea, Turkey and Germany were the main exporters of commodities to the country over the period, ISNA reported.

The biggest exporter to Iran was China with exports of over 3.6 million tons of goods worth $8.4 billion, accounting for 13% and 24% of Irans total imports in terms of weight and value respectively.

The UAE, the second biggest exporter, sold 4.4 million tons of goods ($5.47 billion) to Iran making up for 15% of the countrys imports in both weight and value.

South Korea, Turkey and Germany exported 1.2 million tons worth $2.8 billion, 1.32 million tons valued at $2.2 billion and 843,000 tons worth more than $1.96 billion to Iran over the same period respectively.

The main factor in successful foreign trade is diversity in the list of countries, to and from which exports and imports are made: The more a countrys trade partners, the lesser is the risk to foreign trade.
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