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

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. 

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.

The SCO, which has its headquarters in China, is the world's largest regional organization in terms of area and population.

It has nine member states, namely, Iran, China, Russia, India, Pakistan, Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan.

In July 2023, the Shanghai Cooperation Organization officially approved Iran's full-fledged membership in the organization.

ME