Sharing its eastern borders with Pakistan and Afghanistan, the Islamic Republic of Iran shipped US$11.9 billion worth of exported products around the globe in 2023.

That estimated dollar metric results from an -75.5% drop compared to $48.6 billion five years earlier in 2019.

Year over year, the total value of Iranian exports shrank -84.1% from $80.9 billion starting from 2022.

Iran’s 5 top export products are ethylene polymers, iron ores and concentrates, acyclic alcohols, petroleum gases, then refined copper and alloys. Combined, Iran’s 5 major exports represent over two-fifths (43.2%) of the total dollar sales for all products exported from Iran in 2023.

Iran’s Most Valuable Trading Partners

The latest available country-specific data from 2022 shows that 89.4% of products exported from Iran was bought by importers in: mainland China (39.8% of the Iranian total), Iraq (13%), United Arab Emirates (10.7%), Türkiye (10.3%), India (3.3%), Afghanistan (2.9%), Pakistan (2.4%), Oman (2%), Indonesia (1.7%), Thailand (1.3%), Russia (1.2%) and Azerbaijan (0.8%).

From a continental perspective, 92.5% of Iran’s exports by value was delivered to Asian countries while 2.8% was sold to importers in Europe. Iran shipped 2.4% worth of goods to Africa, another 2.2% going to Latin America excluding Mexico but including the Caribbean.

Tinier percentages were sent to customers in North America (0.03%) and Oceania (0.03%) mostly Australia and New Zealand.

Given Iran’s population of 86.5 million people, its total $11.9 billion worth of exports in 2023 translates to roughly $140 for every resident in the Middle Eastern country. That per capita metric lags the average $180 for one year earlier in 2022.

Iran’s Top 10 Exports

The following export product groups represent the highest dollar value in Iranian global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from Iran.

1. Plastics, plastic articles: US$2.2 billion (18.1% of total exports)
2. Ores, slag, ash: $1.4 billion (11.7%)
3. Mineral fuels including oil: $1.2 billion (10.4%)
4. Organic chemicals: $1.1 billion (9.5%)
5. Iron, steel: $822.1 million (6.9%)
6. Fruits, nuts: $791.3 million (6.6%)
7. Copper: $766.9 million (6.4%)
8. Aluminum: $578.8 million (4.9%)
9. Zinc: $334.8 million (2.8%)
10. Salt, sulphur, stone, cement: $305.6 million (2.6%)

Iran’s top 10 exports accounted for 79.8% of the overall value of its global shipments.

Ores, slag and ash was the fastest grower among the top 10 export categories, up by 147.9% from 2022 to 2023.

The leading decliner among Iran’s top 10 export categories was mineral fuels including oil, pulled down by a -96.9% year-over-year reduction. The severest drops were recorded by Iranian exports for crude oil, petroleum gases and petroleum coke.

At the more granular four-digit Harmonized Tariff System code level, ethylene polymers represent Iran’s most valuable exported product at 15.1% of the country’s total. In second place were a iron ores and concentrates (10.8%) trailed by cyclic alcohols (7.2%), petroleum gases (5.3%), refined copper and unwrought alloys (4.7%), unwrought aluminum (4.5%), miscellaneous nuts (3.2%), unwrought zinc (2.8%), petroleum oil residues (2.1%), then semi-finished iron or non-alloy steel products (1.8%).

Products Generating Biggest Trade Surpluses for Iran

The following types of Iranian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Plastics, plastic articles: US$1.5 billion (Down by -64.2% since 2022)
2. Ores, slag, ash: $1.3 billion (Up by 72%)
3. Mineral fuels including oil: $1.1 billion (Down by -97.5%)
4. Copper: $747.2 million (Down by -57.8%)
5. Organic chemicals: $683.3 million (Down by -66.9%)
6. Fruits, nuts: $607.2 million (Down by -54.5%)
7. Iron, steel: $490.8 million (Down by -89.6%)
8. Aluminum: $460.4 million (Down by -42.5%)
9. Zinc: $327.5 million (Down by -43%)
10. Salt, sulphur, stone, cement: $280.8 million (Down by -60.3%)

Iran has highly positive net exports in the international trade of plastics, both as materials and items made from plastic. In turn, these cashflows indicate Iran’s strong competitive advantages under the plastics and plastic articles product category.

Products Causing Worst Trade Deficits for Iran

Iran incurred an estimated -US$11.4 billion trade deficit in 2023, reversing a $22.2 billion surplus one year earlier in 2019.

Below are exports from Iran that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Iran’s goods trail Iranian importer spending on foreign products.

1. Machinery including computers: -US$3.8 billion (Down by -43.9% since 2022)
2. Vehicles: -$2.7 billion (Up by 2.8%)
3. Cereals: -$2.1 billion (Down by -75.8%)
4. Electrical machinery, equipment: -$2 billion (Down by -71.3%)
5. Oil seeds: -$1.5 billion (Down by -28.1%)
6. Optical, technical, medical apparatus: -$1.1 billion (Down by -23%)
7. Pharmaceuticals: -$764.6 million (Down by -58.2%)
8. Food industry waste, animal fodder: -$536.1 million (Down by -14.8%)
9. Other chemical goods: -$433.7 million (Down by -49.2%)
10. Manmade staple fibers: -$344.4 million (Down by -14.9%)

Iran has highly negative net exports and therefore deep international trade deficits under the machinery including computers product category.

Iranian Export Companies

According to global trade intelligence firm Zepol, the following companies are examples of diverse exporters from Iran.

• Pars Pak (carpets, other textile floor coverings)
• Sana T Tejarat Anahita (grapes, raisins)
• Khadem Trading (cereals, aerated/mineral water)
• Dezdasht Agro Industry (juice, jams)
• Omid Nikan (acyclic polyhydric alcohols)
• Kayson (grinding machines, tubes/pipes/hoses, doors)
• Dashte Morghab (flour, meal)
• Celulose Irani (wooden furniture)
• Bushehr Marine Products (citrus fruit, melons)
• Axis Global Trading (pistachios)

 
In macroeconomic terms, Iran’s total exported goods represent 0.7% of its overall Gross Domestic Product for 2023 ($1.753 trillion valued in Purchasing Power Parity US dollars). That 0.7% for exports to overall GDP in PPP for 2023 falls below the 1% for 2022, suggesting a lessening dependence on exports for Iran’s overall economic performance.

Another key indicator of a country’s economic performance is its unemployment rate. Iran’s unemployment rate averaged 9% for 2023, mirroring the same average metric one year earlier in 2022 according to statistics from the International Monetary Fund.

Iran’s capital city is Tehran.

See also Iran’s Top 10 Imports, China’s Top Trading Partners, Turkey’s Top Trading Partners, Iraq’s Top Trading Partners and Iraq’s Top 10 Exports

Research Sources:
Central Intelligence Agency, The World Factbook Middle East: Iran. Accessed on August 9, 2024

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 9, 2024

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on August 9, 2024

International Trade Centre, Trade Map: Iran export data. Accessed on August 9, 2024

Wikipedia, Gross domestic product. Accessed on August 9, 2024

Wikipedia, Iran. Accessed on August 9, 2024

Wikipedia, Purchasing power parity. Accessed on August 9, 2024

Zepol’s company summary highlights by country. Accessed on August 9, 2024