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Iran’s trade with SCO states rises 5.5% to reach over $37bn: Official

Wednesday, 14 February 2024 7:22 AM [ Last Update: Wednesday, 14 February 2024 7:22 AM ]

The photo shows a group photo of the 22nd Shanghai Cooperation Organization (SCO) summit held in September 2022 in Uzbekistan, Uzbekistan.

Iran’s international trade with the Shanghai Cooperation Organization (SCO) has increased to over $37 billion in the first 10 months of the current Iranian calendar year starting on March 21, 2023.

Ruhollah Latifi, spokesman of the International Relations and Trade Development Committee of Iran's House of Industry, Mining, and Trade, said on Wednesday that Iran’s 10-month trade with the SCO member and observer states increased 5.5 percent in value compared to the same period last year.

Latifi said Iran shipped some 54.5 million tons of goods worth $18bn to SCO members, which shows a 41 percent growth in terms of weight.

He added that Iran’s exports to SCO states registered 48.2 percent in weight and 44.4 percent in value of the total exports of the country in 10 months.

Iran's SCO membership will generate growing capacity: FM

The Iranian foreign minister was speaking on the phone with the SCO Secretary-General Zhang Ming.

Latifi noted that imports from the SCO reached 9.7 million tons worth over $19bn, showing a 17.9 percent rise in weight and a 10.5 percent increase in value.

He further said imports from SCO member states registered a 29.7 percent in weight and a 35.2 percent in value of the country’s total imports in 10 months.