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Iran's trade balance with Eurasia hits $2 billion

21 February 2020 11:14

TEHRAN. KAZINFORM - Iran's foreign trade with Eurasia has reached $2 billion, and imports have grown by 41% in the first 10 months of this year current Iranian year (starting in March 21), a Customs Administration spokesman said.

The preferential trade agreement with the Eurasian Economic Union came into force on October 27 and applied preferential discounts in respect of 862 import and export goods with the member-states of the economic union, Ruhollah Latifi said on Tuesday. Overall, exports to Eurasia over the past 10 months amounted to 2.683 million tons in terms of weight and $19.603 million in terms of value.

He added that the amount of imports from the Eurasian Union countries also increased, Iran's volume of imports from Eurasian countries during the period under review totaled 2.563 million tons in terms of weight and worth 1.06 billion dollars in terms of value, which compared to the same period in the same period last year, it was up 41 percent in weight, but down 5 percent in value.

Source: IRNA

Keywords: Economy, Eurasia,