Flag of ir

Iran Balance of Trade

Iran's trade deficit decreased by 84.5% to $934 million in Q4 2024 from $6.01 billion in Q3 2024. This reduction occurred due to a 14% rise in oil export revenues to over $46 billion in 2024, driven by higher global prices and production. Non-oil exports also grew with petrochemical products up 32% in value during the first nine months of the Iranian calendar year. Iran's record low balance of trade was -$6.01 billion in Q3 2024 and record high was $12.98 billion in Q2 2018.

Quarterly Historical Data (2014-2024)

(in Million USD)
Quarter Balance of Trade (Million USD)
Q4 2024 -934
Q3 2024 -6,007
Q2 2024 -828
Q1 2024 -4,879
Q4 2023 -5,677
Q3 2023 -4,781
Q2 2023 -1,556
Q1 2023 -121
Q4 2022 -4,589
Q3 2022 -2,672
Q2 2022 -4,321
Q2 2021 4,260
Q1 2021 1,961
Q4 2020 2,219
Q3 2020 -632
Q2 2020 -212
Q1 2020 -1,767
Q4 2019 2,995
Q3 2019 64
Q2 2019 5,863
Q1 2019 6,046
Q4 2018 4,021
Q3 2018 9,585
Q2 2018 12,983
Q1 2018 6,227
Q4 2017 5,643
Q3 2017 5,667
Q2 2017 5,059
Q1 2017 4,807
Q4 2016 5,387
Q3 2016 4,127
Q2 2016 6,522
Q1 2016 377
Q4 2015 4,258
Q3 2015 2,765
Q2 2015 4,778
Q1 2015 701
Q4 2014 4,986
Q3 2014 6,591
Iran Balance of Trade : Definition
Iran's balance of trade is the difference between its exports and imports, measured in USD. A trade surplus occurs when exports exceed imports and a trade deficit arises when imports are greater.
Indicator Last Value Prior Value Period
Annual Exports $80.9B $67.27B 2022
Annual Imports $58.73B $52.96B 2022
Exports $17.4B $12.2B Dec'24
Exports (% GDP) 22.9% 24.2% 2024
FDI Inflows (% GDP) 0.35% 0.38% 2023
Imports $18.3B $18.2B Dec'24
Imports (% GDP) 26.82% 27.98% 2024
Tariff Rate 15.22% 16.18% 2020
Trade (% GDP) 49.71% 52.18% 2024