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Iran’s Non-Oil Trade With Pacific Alliance States Exceeds $13 Million

Iran’s Non-Oil Trade With Pacific Alliance States Exceeds $13 Million

Iran traded 7,225 tons of non-oil commodities worth $13.74 million with the member states of Pacific Alliance in the last fiscal year (ended March 20, 2019) to register a 95.68% and 72.73% fall in tonnage and value respectively compared with the year before.

The Pacific Alliance is a Latin American trade bloc, formed by Chile, Colombia, Mexico and Peru, all of which border the Pacific Ocean. These countries have come together to form an area of integration with the purpose of ensuring complete freedom in the movement of goods, services, capital and people.

Together, these four countries have a combined population of 210 million people and about 35% of the region’s GDP.

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 4,321 tons worth $6.31 million during the year, indicating a 97.35% and 83.6% decrease in tonnage and in value respectively year-on-year.