iran sees 39% surge in exports to pakistan
Published on: April 14, 2024.
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TEHRAN (ANA)- Iranian Rice Export to Pakistan Sees Significant Growth in Value
In a recent report, an Iranian economic official revealed that Iran’s exports to neighboring Pakistan experienced a remarkable 39% increase in value during the previous Iranian calendar year. This growth is compared to the year before, indicating a strong trade relationship between the two countries.
According to the Trade Promotion Commission of Iran’s House of Industry, Mine, and Trade, Iran’s export of non-oil products to Pakistan saw a substantial rise in value during the last year of 1402 in the Iranian calendar. The exports amounted to over four million tons, valued at more than $2 billion. This marked a 23% increase in weight and an impressive 39% increase in value compared to the previous year.
On the other hand, imports from Pakistan to Iran experienced a slight decline. More than 554,000 tons of products, worth over $673 million, were imported into Iran from Pakistan. These figures represent a 26% decrease in weight and a 33% decrease in value compared to the previous year.
The economic official attributed the decrease in imports to the rise in domestic rice production in Iran. He explained that there was no longer a need to import rice from countries like Pakistan and India, as Iran had successfully increased its own rice production.
Despite this decrease in imports, the officials of both Iran and Pakistan have set an ambitious target of $5 billion for bilateral trade. The spokesman highlighted the significant steps taken to achieve this goal, emphasizing the strong trade relationship between the two countries.
This positive growth in Iran’s export to Pakistan showcases the potential for further collaboration and economic prosperity between the two nations.
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