Iran's Non-Oil Exports to UAE Hit $2.1 Billion in First Four Months of Iranian Calendar Year

Strategic Insights -

Iran's exports of non-oil commodities to the United Arab Emirates (UAE) reached $2.1 billion during the first four months of the current Iranian calendar year, which began on March 21. This marks a significant increase in non-oil exports to the UAE, which was Iran's third-largest non-oil export destination during this period. According to the head of the Islamic Republic of Iran Customs Administration (IRICA), Foroud Asgari, the UAE was also Iran's top source of non-oil imports, with commodities valued at $5.4 billion imported from the country.

As previously announced by Abolfazl Akbarpour, the deputy head of IRICA for planning and international affairs, Iran exported non-oil commodities valued at $7.2 billion to the UAE in the previous year. This indicates a steady increase in non-oil exports to the UAE over the past year. The significant rise in non-oil exports to the UAE is largely due to the Memorandum of Understanding (MOU) signed between Iran and the UAE in May 2024 to expand economic cooperation. The MOU aims to facilitate trade and investment in various areas, including transportation, logistics, and banking.

Iran and the UAE have also proposed the formation of a joint working committee between the Iranian Chamber of Commerce and the UAE Chambers Confederation to capitalize on the re-export potential of Iranian products through the UAE. The initiative aims to streamline trade and improve alignment with global standards. Ghadir Ghiafeh, deputy head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), has announced plans to establish the ICCIMA's first overseas Trade and Investment Development Agency office in the UAE to attract foreign investment and enhance joint cooperation.

Key Takeaways:

  • Iran's non-oil export to the UAE reached $2.1 billion during the first four months of the current Iranian calendar year.
  • The UAE was Iran's third-largest non-oil export destination and top source of non-oil import during this period.
  • Iran and the UAE signed an MOU in May 2024 to expand economic cooperation, including transportation, logistics, and banking.
  • A joint working committee is proposed to capitalize on the re-export potential of Iranian products through the UAE.
  • Iran has plans to establish a Trade and Investment Development Agency office in the UAE to attract foreign investment and enhance joint cooperation.

Statistics:

  • $2.1 billion: Iran's non-oil export to the UAE during the first four months of the current Iranian calendar year.
  • $5.4 billion: The value of commodities imported from the UAE to Iran during the same period.
  • $7.2 billion: Iran's non-oil export to the UAE in the previous year.
  • $21.9 billion: The value of commodities imported from the UAE to Iran in the previous year.
  • $27 billion: The trade value between Iran and the UAE.
  • 2024: The year the MOU was signed between Iran and the UAE to expand economic cooperation.
  • 2025: The year Iran Expo 2025 was held.

Sources:

  • Tehran Times, May 2024: Iran-UAE Sign MoU for Economic Cooperation.
  • Tehran Times, April 2025: Iran, UAE Seek to Boost Trade and Investment.
  • Tehran Times, April 2025: Iran to Establish Trade and Investment Development Agency Office in UAE.