Iran’s foreign trade grows by 11% last year

At the end of the last Iranian calendar year (which concluded on 20 March), Iran’s foreign trade volume increased by US$130 billion, marking an 11 per cent growth compared to the previous year. This was announced by Iran’s Minister of Industry, Mines, and Trade, Seyed Mohammad Atabak, during the opening of the Seventh Export Potential Exhibition in Tehran, as reported by Mehr News Agency, a partner of TV BRICS.

According to the Minister, Iran continues to actively develop its foreign economic ties. Specifically, last year, the country’s non-resource exports amounted to 152 million tonnes of goods, valued at US$57.8 billion, while the trade balance (excluding gold imports) turned positive.

The Minister noted that the country’s leadership plans to increase non-resource exports by more than 23 per cent annually, actively exploring new markets in Africa, Western, Southern, and Southeast Asia.

Atabak added that the government intends to strengthen economic diplomacy and expand free and preferential trade agreements. Earlier reports indicated that trade between Iran and the Eurasian Economic Union (EAEU) has grown 2.2 times since 2019. On 15 May, 2025, a free trade agreement between Iran and the EAEU will come into effect, eliminating tariffs on over 80 per cent of goods.

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