Iran's Non-Oil Trade With OIC States Hits $25 Billion

(Monday, January 7, 2019) 09:47

Iran traded 46.16 million tons of non-oil commodities worth $25.03 billion with the member states of the Organization of Islamic Cooperation during the first eight months of the current fiscal year (March 21-Nov. 21).

This registers a 5.3% and 8.4% growth in tonnage and value respectively compared with last year’s corresponding period, the latest data released by the Islamic Republic of Iran Customs Administration show.

 

 

 

Iran’s exports to OIC member countries totaled 41.62 million tons worth $18.46 billion during the period, indicating a 12.86% and 31.5% increase in tonnage and value respectively year-on-year. Imports stood at 3.32 million tons worth $6.09 billion, down in tonnage and value by 30.14% and 29.56% respectively YOY.

 

 

 

OIC is an international organization founded in 1969, consisting of 57 member states, including Iran, with 47 countries being Muslim majority countries. Some, especially in West Africa, have large Muslim populations, but not necessarily Muslim majority countries.

 

 

 

The organization states that it is the collective voice of the Muslim world and works to safeguard the interests of the Muslim world for promoting international peace and harmony.

 

 

 

Since Syria has been suspended from the organization since August 2012, it was not included in the report.