Iran-SCO Trade Exchange Hits about $39 Billion in 11 Months

Concurrent with the SCO Summit held in India on Saturday, Seyed Rouhollah Latifi, the Spokesman for the Trade Promotion Commission of Iran Industry, Mine and Trade House, said that more than 50,603,000 tons of goods, valued at $38,829,445,000, were exchanged between the Islamic Republic of Iran and 11 member states of the Organization.

Of the total amount of goods exchanged, 41,703,000 tons of commodities, valued at $19.613 billion, are related to Iran’s exports share, showing more than two percent and 6.4 percent hikes in weight and value respectively as compared to the last year’s corresponding period, he maintained.

In this period, Iran imported 8.9 million tons of goods, valued at $19,216,500,000, from SCO’s member states, registering a 7.7 percent and 33.4 percent growth in weight and value respectively as compared to the same period of last year.

Elsewhere in his remarks, Latifi pointed out that Iran’s non-oil trade with the member states of the Shanghai Cooperation Organization has seen a growth of about $6 billion, registering 18.3 percent rise as compared to last year’s corresponding period.

Turning to Iran’s export destinations to SCO’s member states, he said that China, India, Afghanistan, Pakistan and the Russian Federation imported $13.562 billion, $1.919 billion, $1.481 billion, $1.315 billion and $673 million worth of products from Iran from March 21, 2022 to February 20, 2023 respectively, which accounted for Iran’s first five export target markets.

The Islamic Republic of Iran joined the Shanghai Cooperation Organization officially at the Samarkand Summit in Uzbekistan on September 16, 2022. Iran’s membership request had been presented to the Secretariat of the Organization in February 2005.