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Russia & Iran see increase in trade tonnage, decrease in prices

Russia & Iran see increase in trade tonnage, decrease in prices

Iran and Russia, two major powers of the region, continue fruitful economic cooperation. The statistics on trade turnover between the two countries show significant growth.

Trade between Iran and Russia from March 21 – April 20 amounted to 213,886 tons worth $87.84 million. The growth in tonnage was 48.45 percent, and the decrease in terms of costs equated to 54.6 percent compared to the same period in 2018, according to Iran Customs Administration.

Russia was Iran’s 11th largest trading partner for this period. Iran’s exports to Russia totaled 65,000 tons worth $25.7 million, which is 1.77 percent more in terms of tonnage and 8.58 percent less in terms of costs. During this period, Iran mainly exported kiwi, tomatoes, cabbage, pistachios and dairy products to Russia.

In turn, Russia exported 148,386 tons of goods worth $62.12 million to Iran, thus increasing exports by 86.15 percent in tonnage and decreasing by 62.44 percent in terms of costs.

Iran mainly imported corn, sunflower oil, barley and radio navigation devices from Russia.

In general, in the structure of Russia’s exports to Iran, the main share of supplies accounts for the food products and agricultural raw materials; metals and articles thereof; machinery, equipment and vehicles; wood and pulp and paper products; chemical industry products.