Iran-Azerbaijan Trade Value Up 13%: IRICA

TEHRAN (Tasnim) – Iran’s trade with the Republic of Azerbaijan grew from $608 million in 1400 (March 2021 to March 2022) to $688 million last year (March 2022 to March 2023), showing a 13 percent hike, according to the Islamic Republic of Iran Customs Administration (IRICA).

Jolfa, Bilesavar and Astara are the most highly-transited joint borders shared between Iran and Azerbaijan.

The two countries exchanged over 784,000 tons of products, valued at $688 million, from March 21, 2022 to March 20, 2023.

Iran’s balance of trade with neighboring Azerbaijan hit $620 million last year and turned positive. This means that Iran’s export to the Republic of Azerbaijan exceeded imports during this period.

IRICA put the total number of customs offices that are active in the field of exporting goods to neighboring Azerbaijan at 91.

In this period, Iran exported 10 non-oil products to neighboring Azerbaijan which include components and parts, seamless hollow pipes and profiles, unfinished aluminum, packed butter, potato, and non-electrical devices.

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