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Iran’s non-oil foreign trade has shown notable growth, with trade volume reaching 176.102 million tons during the first 11 months of the Iranian calendar year, a 9.2% increase from the previous year. The total value of non-oil trade was $53.376 billion, while imports surged by 19% in weight and 5.6% in value. Key exports included natural gas ($6.6 billion) and liquefied propane ($3.3 billion). This growth reflects Iran’s efforts to diversify its economy and reduce reliance on oil. The government aims to expand trade relations with neighboring countries, enhancing economic stability and employment opportunities.
Iran’s dairy exports surged to $280.7 million in the three months before June 21, marking a 32% increase from the previous year. Iraq was the largest importer, accounting for nearly 40% of purchases, with notable buyers including Pakistan, the UAE, and Russia. Key exported products included milk powder (28%), ayran and kefir (19%), and cheese (16%). Government-subsidized currency for importing animal feed has boosted competitiveness. Overall, Iran’s agricultural exports reached $5.2 billion, up 29% from last year, reflecting ongoing efforts to diversify the economy away from oil dependence. This growth enhances Iran’s position in the global dairy market.
At a conference on “Basij, Development, and Sustainable Security in Southeastern Iran,” Major General Yahya Rahim Safavi highlighted Iran’s strategic geopolitical role amid the “corridors war,” a modern competition centered on transportation routes. He emphasized that nations with strong geography and public security will emerge as key players in this rivalry. Iran’s unique position, linking East to West and North to South, positions it as a vital transit hub with extensive railway connections to Turkey, Azerbaijan, Central Asia, and the Persian Gulf. Safavi noted that Iran’s geographical advantages could redefine its international relationships and influence global trade and security dynamics.
Iran’s First Vice President highlighted the importance of the Third Caspian Sea Economic Forum, aimed at enhancing economic cooperation among the Caspian littoral states. This two-day event focuses on strategies to boost regional trade and address economic challenges. Aref, the forum chairman, expressed optimism about its potential impact on trade exchanges despite challenges from sanctions. He emphasized the significance of strong neighborly relations and regional partnerships, particularly following Iran’s recent observer status in the Eurasian Economic Union. The forum serves as a platform for dialogue, aiming to strengthen economic ties and foster collaboration among member states for mutual growth.
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Gold prices have surged recently, nearing record highs due to geopolitical tensions and new US sanctions on Russian oil companies. As of Thursday, US gold futures rose by 2.4% to $4,162.14 an ounce, while spot gold increased by 1% to $4,140.62. Both futures and spot gold have rallied for nine weeks, although profit-taking caused a dip in late October. The sanctions have heightened interest in gold as a safe-haven asset amid uncertainty, with analysts noting that geopolitical developments and market sentiment significantly influence gold prices. Investors should remain alert to ongoing fluctuations in this volatile market.