Iran Exported $120 Million of Non-Oil Products to Venezuela in 2022, Official Says

Iran Exported $120 Million of Non-Oil Products to Venezuela in 2022, Official Says

Iran exported $118.1 million worth of non-oil products to Venezuela in the last Persian calendar year (March 21, 2022-March 20, 2023), registering a 416 percent growth compared to the corresponding period of the previous year, an official said.

Iran and Venezuela have high potentials and capabilities to increase their trade volume, said Seyed Rouhollah Latifi, spokesman for Trade Promotion Commission of the Ministry of Industries, Mining and Trade.

He pointed to Iranian President Ebrahim Raisi’s visit to three Latin American countries of Venezuela, Cuba and Nicaragua, adding that more than 49,000 tons of non-oil products worth $118,101,832 were exported to Venezuela last year.

It shows a 416 percent increase compared to the same period a year earlier, he noted.

Elsewhere in his remarks, Latifi referred to Iran’s import of non-oil goods from Venezuela and noted that about eight tons of non-oil commodities, valued at $816,000, were imported into the country from Venezuela last year.

Iran also imported about 188 tons of non-oil goods, valued at $11.858 million, from Cuba in 2022, the spokesman continued.

Regarding Iran’s trade with Venezuela, he stated that Iran exported autos, spare parts, fishery products, sweets, pastries, tomato pastes, engine oils, chemicals, medicines, vaccines, fertilizers, detergents, handicrafts, ceramics, types of pipes and profiles, die-casting machinery, etc. to Venezuela from March 21, 2022 to March 20, 2023.

The visit by Raisi to the three Latin American countries could play a constructive role in the development of trade and economic ties as well as the export of technical and engineering services, he went on to say.

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