Iran Export, Import & Trade

By: EconomyWatch   Date: 30 June 2010

About The Author

EconomyWatch

The core Content Team our economy, industry, investing and personal finance reference articles.

EconomyWatch, Content Team

 

  • Dot Div
  •      

Iran is a founding member of OPEC and GECF (Gas Exporting Countries Forum). The majority of Iran’s exports are oil and natural gas. In 2010, petroleum constituted 80 percent of all exports from Iran. Iran’s strategic geographical position ensures access to markets within the region. Pipeline systems supply Iran's oil and natural gas to many of its neighbours such as Turkey and Armenia, and as far away as Russia and India.

International sanctions have had an impact on Iran's trade and foreign investments, especially from the US.  As a result, Iran expanded its economic cooperation and trade with other developing countries such as China and India. India, in particular, has been an active trading partner, increasing its trade with Iran 80 percent within the 2007 year.

However in April 2011,the US exerted pressure on India's trade relations with Iran resulting in issues with India’s payments to Iran for crude oi - halting US$12.77 billion worth of payments from India to Iran for crude oil. Yet, despite recent international sanctions, rising oil prices have ensured Iran’s export revenues continue to increase - from US$70.16 billion in 2009 to US$78.69 billion in 2010.

Iran Import and Export Indicators and Statistics at a Glance

Total value of exports: US$78.69 billion (2010 estimate)

Primary exports - commodities: petroleum, chemical and petrochemical products, fruits and nuts, carpets

Primary export partners: China (16.58 percent of total exports), Japan (11.9 percent), India (10.54 percent), South Korea (7.54 percent), Turkey (4.36 percent)

Total value of imports: $58.97 billion (2010 estimate)

Primary imports - commodities: industrial supplies, capital goods, foodstuff and other consumer goods, technical services

Primary import partners: United Arab Emirates (15.14 percent of total imports), China (13.48 percent), Germany (9.66 percent), South Korea (7.16 percent), Italy (5.27 percent), Russia (4.81 percent), India (4.12 percent) 

Oil exports: 2.4 million bbl/day

Natural gas exports: 5.4 billion cu m (2010) 

 

 


  • Dot Div
  •      

Most Popular in Iran Economy

Related Links
blog comments powered by Disqus