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China, Iraq, UAE, Afghanistan, Turkey are main importers of Iranian products.

China, Iraq, UAE, Afghanistan, Turkey are main importers of Iranian products.

The Islamic Republic of Iran is an economically developed country in South-West Asia and is the largest economy in the region, coming after China, Japan, India, Turkey, Indonesia and South Korea in Asia in terms of GDP.

According to the Iranian Customs Administration, Iran’s trade balance for April 2018-March 2019 is $ 1.5 billion.

The export of non-oil products from Iran during this period amounted to about 105.9 million tons totalled $40.78 billion.

It shows an increase of 0.74 percent in value terms and an increase of 6.36 percent by weight, in comparison with the same period last year, the report says, reports IRNA.

The report added that during this period, Iran imported about 28.9 million tons of goods in the amount of $ 38.5 billion, which is 21.47 percent more compared to the same period last year.

According to the report, gas condensate ranked first in the list of Iranian exports.

China, Iraq, the United Arab Emirates, Afghanistan and Turkey were the five main destinations for Iranian products, respectively.

China, as the main buyer of Iranian products for April 2018-March 2019, imported about 28.5 million tons of products from Iran. However, this figure shows a weight reduction of 9.41 percent on an annualized basis.

Iraq, which was the second main destination for Iranian goods, imported about 18.3 million tons of goods from Iran in the period under review, which shows an increase of 53.09 percent by weight and 42.02 percent of the cost.

The relations of Iraq and Iran have now reached a qualitatively new level which has prepared the ground for strategic cooperation in the field of defense and security.

Bilateral cooperation between Iran and China is comprehensive and encompasses political, economic, social and other areas, and both sides are in favor of expanding bilateral cooperation.

The Iranian economy is formed by the service sector, industry and agricultural sector.

Iran is actively producing oil, gas, copper, iron, manganese and lead-zinc ores and coal. There are oil refining as well as petrochemical enterprises in the country. Machinery and metalworking, food and textile industries are widely represented, handicraft production of carpets and metal products is developed.

Among the most important crops are wheat, barley, rice, legumes, cotton, sugar beets, sugar cane, tobacco, tea, nuts, pistachios. Animal husbandry is based on the breeding of sheep, cattle, goats and camels.