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Iran-UAE Trade Favors Emirates |
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The most important goods that
have been imported to Iran from the United Arab Emirates over the past
three years as well as during the first quarter of the current Iranian
calendar year, included gasoline; light lubricants; cigarettes; spare
parts for various machinery; telecommunication, radio and ATM equipment;
mobile phones; as well as heavy machinery and bananas. |
Iran’s trade
balance with UAE has been negative and in UAE’s favor during past 10 years.
According to Fars news agency, the
United Arab Emirates is now the biggest trade partner of Iran and the volume
of total trade exchanges between Iran and the United Arab Emirates have
amounted to about 9.6 billion dollars in the Iranian calendar year, 1384
(2005-2006).
Most goods imported to Iran come
through UAE; so that, UAE accounted for 19.6 percent of total value of Iran’s
imports during the said year. In fact, most goods that were imported through
the United Arab Emirates were commodities and products that were bought from
other countries and were then reexported to Iran by the United Arab Emirates.
Also, the United Arab Emirates accounts for the lion’s share of Iran’s
exports; so that, 17.6 percent of Iran’s total exports in 2005 were destined
for UAE.
Iran’s imports from UAE, which was
constant from 1996 to 2000, took an upturn after 2000, increasing from 1.154
billion dollars in 2000 to 7.766 billion dollars in 2005. Also, Iran’s exports
to the United Arab Emirates increased from 444 million dollars in 2000 to
1.846 billion dollars in 2005. The most important goods that have been
imported to Iran from the United Arab Emirates over the past three years as
well as during the first quarter of the current Iranian calendar year (started
March 21, 2006), included gasoline; light lubricants; cigarettes; spare parts
for various machinery; telecommunication, radio and ATM (automated teller
machine) equipment; mobile phones; as well as heavy machinery and bananas.
The most important goods that have
been exported from Iran to the United Arab Emirates over the past three years
as well as during the first quarter of the current Iranian year (1385)
included pistachios, oil-associated gases, hand-woven carpets, diluting
solvents, aluminum, pitch, crude oil, saffron, raisins, light lubricants,
steel, and precious metals.
In view of import and export trends
between the two countries it transpires that Iran’s trade balance with the
United Arab Emirates during the past 10 years has been always negative and in
Emirates’ favor.
Iran predominantly exports
foodstuff as well as agricultural products and raw materials to the United
Arab Emirates in return for importing industrial machinery and products, which
are collectively known as intermediate and capital goods. Of course, the huge
quantity of luxury commodities, most of which is smuggled from the United Arab
Emirates into Iran, has not been taken into account. |
