Making news

Strong growth recorded in Iran-ASEAN trade

Iran’s trade with the Association of Southeast Asian Nations (ASEAN) has witnessed strong growth, reaching 2.63 billion USD in eight months to November 22.

According to the country’s Financial Tribune, Iran exported 1.28 billion USD to while importing 1.34 billion USD of non-oil goods from ASEAN nations during the reviewed period.

Thailand was the largest trade partner of Iran among ASEN member nations, with 619 million USD in two-way trade, accounting for 24 percent of the country’s trade with the bloc.

Meanwhile, bilateral trade between the Muslim nation and its second largest ASEAN trade partner – Singapore, in the period, increased by 10 percent year-on-year, achieving 487 million USD.

Iran-Malaysia trade grew by 69 percent to 486.5 million USD, while Iran's trade with Indonesia and Vietnam amounted to 485 million USD and 325 million USD, respectively.

Iran’s major exports to the ASEAN nations were steel, butane, propane and figs. It imported sugar cane, palm oil, soybean, rice, home appliances, and cell phones from the group.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.