TEHRAN Trade between Iran and Egypt reached $17.18 million in the first eight months of the current Iranian calendar year (March 20-November 20), marking a 67 percent boost compared to the exact same period in 2015, a trade official stated on Thursday.Ruhollah Latifi, spokesperson for the International Relations and Trade Development Commission of Iran House of Industry, Mine, and Trade, highlighted the significant development, accompanying Iranian President Masoud Pezeshkians visit to Cairo for the D-8 summit.While Iran-Egypt trade has seen fluctuations in line with political relations, current developments, consisting of closer diplomatic ties and the 2 nations subscription in BRICS, have actually contributed to a relative increase in direct trade, Latifi said.According to Latifi, 35,883 tons of products worth $17.18 million were exchanged in between the two nations throughout this period, representing a 65 percent increase in weight and a 67 percent rise in worth year-on-year.
Iran's exports to Egypt totaled up to 28,116 tons valued at $13.8 million, showing a 30 percent rise in weight and 41 percent development in worth compared to the previous year.
Steel and iron products represented 96 percent of Iran's total exports, with 27,206 tons worth $13.27 million.Other key exports included lab packages ($142,218), pistachios ($105,309), clutch parts, marble and travertine stones, sodium hydroxide, tomato paste, tractors, bakeshop machinery, and farming equipment.Irans imports from Egypt amounted to 7,767 heaps worth $3.39 million, showing a 592 percent increase in worth compared to last year.
Manganese stone consisted of 97.5 percent of overall weight and 43.2 percent of total value, with 7,580 lots worth $1.46 million imported.Other substantial imports included disconnectors ($1.004 million), lathes ($359,900), razor blades ($165,325), electronic components ($155,610), potassium sulfate ($138,711), flow meters ($14,233), and glass elements for lights and projectors ($12,750).
EF/MA