Iranian Exports to African Countries Rise by 50%
- October, 06, 2022 - 11:36
- Economy news
TEHRAN (Tasnim) – Non-oil exports from Iran to African countries increased by 50% in value terms in the six months to September 22.
This is according to an official in the Iranian Trade Promotion Organization (TPO).
TPO’s head of Africa department Mohammad Sadegh Ghannadzadeh said on Wednesday that Iranian exports to African countries had surged by 25% in volume terms in the April-September period.
Ghannadzadeh did not elaborate on any figures but said that the value of Iranian exports to Africa over the six months to late September had exceeded figures reported for the entire past calendar year in late March.
The TPO had reported a historic surge in Iranian exports to Africa of more than 200% in the nine months to late December last year.
That comes as recent figures by Iran’s customs office (IRICA) show that Iranian exports to 37 African countries reached some 1.311 million metric tons worth $696.7 million in the five months to August 22.
The figures showed that Iranian exports to Africa had increased by 40% against the April-August period in 2021.
South Africa remained Iran’s main export destination in the African continent over the five months to late August with some $212.74 million worth of purchases, followed by Mozambique at $105.29 million and Sudan at $85.28 million, showed IRICA figures.
Iran has sought to boost its non-oil trade with other countries as part of efforts to offset the impacts of US sanctions imposed on its oil exports in 2018.
Experts say increased exports of non-oil products from Iran have helped the country diversify its economy away from crude revenues while boosting business activity in the country and creating more jobs for its youth.