Iran's upsurge in exports to Africa

Published 2021년 7월 27일

Tridge summary

Iran has experienced a significant increase in trade with African countries, with exports reaching 834,381 tons valued at $340 million in the first quarter of this year, a 144% increase in tonnage and 350% increase in value compared to the same period last year. The top export destinations included Ghana, Algeria, and South Africa. This surge is attributed to the lifting of pandemic-related restrictions. However, trade with Africa saw a decline in the previous fiscal year due to US sanctions, the pandemic, and the closure of trade relations. The Trade Promotion Organization of Iran is planning to further promote Iranian exports to Africa by addressing the challenges faced and allocating €200 million from a $2 billion support package.

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Original content

EghtesadOnline: Iran exported a total of 834,381 tons of commodities worth $340 million to African countries during the first three months of the current Iranian year (March 21-June 21), registering a 144% and 350% upsurge in tonnage and value respectively compared with the similar period of last year, according to the director general of Arab and African Affairs Department of the Trade Promotion Organization of Iran. “Ghana with $151 million, Algeria with $58 million, South Africa with $32 million, Tanzania with $25 million, Nigeria with $18 million, Soudan with $17 million, Kenya with $14.5 million, Ivory Coast with $12 million, Somalia with $4 million and Egypt with close to $1.5 million were Iran’s top 10 export destinations in the African continent,” Farzad Piltan was also quoted as saying by IRNA.The official said Ghana, accounting for 44% of Iran’s exports to Africa, was Iran’s 10th biggest export destination worldwide over the three months under review.“Lifting ...

Source: Eghtesadonline.com