Iran Annual Trade with Africa Hits Record High

Iran and African countries traded 2.54 million tons of goods worth US$1.27 billion in fiscal 2022-23 (ended March 20).

The latest data released by the Islamic Republic of Iran Customs Administration (IRICA) show that Iran and African countries traded 2.54 million tons of goods worth US$1.27 billion in fiscal 2022-23, registering a 1.61% decline in terms of weight, but a 2.24% rise in value compared with the previous year.

The value of exports has registered a record high in the IRICA database.

South Africa with 608,491 (up 9.72%) tons worth US$322.04 million (up 23.52%) was Iran’s main trade partner in the African continent during the period. It was followed by Mozambique with 353,448 tons (up 146.27%) worth US$190.51 million (up 93.74%) and Ghana with 333,496 tons (down 43.49%) worth US$174.15 million (down 51.63%), Financial Tribune reported.

Data released by the Islamic Republic of Iran Customs Administration show Iran exported 2.45 million tons of goods worth US$1.18 billion to the African continent during the year, registering a 2.63% and a 0.48% decrease in terms of weight and value year-on-year, respectively. - Mehr