Iran-BRICS Trade in 11 Months Announced

The value of trade exchanges between Tehran and BRICS member states in the first eleven months of the past Iranian year has surpassed US$34 billion, the Islamic Republic of Iran Customs Administration (IRICA) announced.

Data released by the IRICA, which excludes crude oil exports, showed that Iran’s trade with BRICS member states, namely Brazil, Russia, India, China and South Africa, reached 43.28 million tons worth US$34.98 billion during the first 11 months of last Iranian year (March 21, 2022-February 19).

China was Iran’s main trade partner among BRICS members with 32.21 million tons worth US$27.76 billion. India came next with 6.64 million tons worth US$4.51 billion. It was followed by Russia with 3.36 million tons worth US$1.97 billion, Brazil with 459,959 tons worth US$408.95 million and South Africa with 605,097 tons worth US$317.57 million, Financial Tribune reported.

Iran’s exports stood at 35.11 million tons worth US$16.52 billion.

The surge in foreign trade comes in the backdrop of the President Ebrahim Raisi administration’s agenda to expand economic ties with countries in the region and those across the globe. Back in October, Iran's president reiterated that Iran is achieving success as, according to the US officials’, their maximum pressure policy on Tehran has been defeated. In mid-May, Raisi noted that Iran is no longer worried about its oil sales despite heavy sanctions imposed by the US. - Fars