Calay News
According to Iran’s Fars news agency, Iran’s non-oil trade with BRICS (Brazil, Russia, India, China, and South Africa) member countries saw a 14% increase during FY 2022–2023 compared to the same period last year.
The most recent data from the Islamic Republic Customs Administration revealed that trade with these countries reached $38.43 billion. Iran’s non-oil exports generated revenues worth $17.85 billion, with an export volume of 38.73 million tons.
China was Iran’s top trading partner among the BRICS countries, with bilateral trade valued at $30.32 billion, representing an increase of 37.41%. India ranked second, with an increase of 47%, reaching US$4.99 billion. Russia ranked third, with bilateral trade of $2.32 billion, an increase of 3.59%.
South Africa was Iran’s main trading partner on the African continent, with an exchange of goods and products valued at US$322 million, representing an increase of 23.52%. However, bilateral trade with Brazil declined in both volume and value, with a decrease of 64.44% and 36.76%, respectively.
It is noteworthy that the increase in Iran’s foreign trade occurs despite the “maximum pressure” policy implemented by the United States, which has imposed strong sanctions on the Persian country in recent years. The Iranian government has stressed its ability to strengthen domestic industry and overcome the unilateral restrictions imposed by Washington.
Iran has formally applied to join the BRICS economic-trade bloc, and membership applications are expected to be discussed by the foreign ministers of the member countries during the organization’s next annual summit, to be held in June.
