Iran’s Exports to EAEU Soar by 22% in Just 10 Months: A Trade Triumph!
The recent performance of Iran’s non-oil exports to the Eurasian Economic Union (EAEU) has showcased impressive growth, indicating a positive trend in international trade. With a remarkable 22 percent increase in exports from March 21, 2024, to January 20, 2025, the Iranian economy is positioning itself favorably within the global market.
According to Akbar Godari, the Director General of Central Asia, Caucasus, and Russia Office of the Trade Promotion Organization of Iran (TPOI), the total value of non-oil goods exported to EAEU member states reached $1.631 billion. This figure represents a significant rise from the previous year, reflecting the growing demand for Iranian products in these markets.
Here are the key figures highlighting Iran’s non-oil export performance:
- Total non-oil exports to EAEU (March 21, 2024 – January 20, 2025): $1.631 billion
- Non-oil exports during the previous period (March 21, 2023 – January 20, 2024): $1.338 billion
- Imports from EAEU member states: $1.274 billion
- Decline in imports compared to last year: 2 percent
Godari noted that the primary markets for Iranian non-oil products during this period were Russia and the Republic of Armenia. Iran exported approximately $889 million worth of non-oil goods to the Russian Federation, highlighting its role as a major trading partner in the region.
This growth in exports can be attributed to various factors, including enhanced trade relations, improved logistics, and increased competitiveness of Iranian products in the EAEU market. The Iranian government has been actively working to strengthen its trade ties with member states, focusing on sectors such as agriculture, textiles, and machinery.
Godari emphasized the importance of diversifying Iran’s export portfolio to reduce dependency on oil revenues. The success of non-oil exports not only contributes to the national economy but also supports the country’s strategic objectives in expanding its influence in regional markets.
Despite the overall growth in non-oil exports, the decline in imports from EAEU countries by 2 percent indicates a potential shift in trade dynamics. This reduction could be a result of increased domestic production capabilities or a strategic decision to prioritize local goods over foreign imports.
In summary, the statistics from March 21, 2024, to January 20, 2025, reveal a robust performance of Iran’s non-oil exports to the EAEU, with significant contributions from key markets like Russia and Armenia. As the Iranian economy continues to evolve, the focus on non-oil exports will be crucial in achieving sustainable growth and resilience against global economic fluctuations.
As we look towards the future, Iran’s trade with the EAEU is poised for further development, driven by ongoing efforts to enhance trade relations and capitalize on the growing demand for Iranian products. This positive trajectory not only strengthens Iran’s economic standing but also reinforces its commitment to regional cooperation and integration.
