The most recent exports are led by Ethylene Polymers ($3.2B), Other Nuts ($925M), Semi-Finished Iron ($816M), Refined Copper ($673M), and Acyclic Alcohols ($561M). The most common destination for the exports of Iran are China ($5.94B), Turkey ($2.72B), Pakistan ($614M), Armenia ($406M), and India ($379M).
Oil and natural gas are Iran's most important exports, accounting for 82 percent of the country's export revenues. Other exports include chemicals, plastics, fruits, ceramic products and metals. Iran's main exports partners are: China (21 percent of total exports), Japan (9.2 percent) and Turkey (9 percent).
Iran is a member of OPEC and GECF and ranks as the 57th largest export economy in the world and stands at the 49th largest economy (in terms of GDP). The main Iranian exports are Ethylene Polymers, Crude Petroleum, nuts and Acyclic Alcohols. Iran mostly exports to China, Turkey, Pakistan, UAE, and Germany.
Other than silk and textiles, leather, camel and sheep wool, Chinese model dishes, gold and silver artifacts, rugs and precious stones were also exported.
Tehran, IRNA - Iran is the leading producer of damask roses in the world, accounting for 70% of the global output, according to an official in the country's Ministry of Agriculture Jihad (MAJ).
The mineral industries encompass both refining and manufacturing. The extraction and processing of petroleum is unquestionably Iran's single most important economic activity and the most valuable in terms of revenue, although natural gas production is increasingly important.
Traditionally, Iran has been one of Australia's leading wheat export destinations, and other primary exports include wool and meat.
China remained Australia's largest two-way trading partner in 2018-19 and was our largest export market and import source.
Imports The top imports of Iran are Broadcasting Equipment ($3.86B), Corn ($1.52B), Soybeans ($870M), Motor vehicles; parts and accessories (8701 to 8705) ($734M), and Rice ($671M), importing mostly from China ($8.27B), United Arab Emirates ($6.58B), Turkey ($2.66B), Brazil ($1.94B), and Germany ($1.64B).
In 2019, Iran's main import partner was the China with a share of 28 percent in all imports. Iran's main import partners in descending order of importance include the United Arab Emirates, China, Algeria, India, South Korea and Turkey. Together the United Arab Emirates and China compose over 50 percent of all imports.
By the end of 2022, Russia ranked as Iran's fifth-largest trade partner–and the largest investor in the Islamic Republic. Moscow invested $2.76 billion in Tehran during the Iranian fiscal year (from mid-March 2022 to mid-March 2023). China, in comparison, invested only $131 million in Iran the same year.
China and India have also emerged as friends of Iran; these three countries face similar challenges in the global economy as they industrialize, and consequently find themselves aligned on a number of issues. Iran maintains regular diplomatic and commercial relations with Russia and the former Soviet Republics.
Official diplomatic relations were first established in 1937. The two civilizations have had a history of cultural, political, and economic exchanges along the Silk Road since at least 200 BC, and possibly earlier. They have developed a friendly, economic, and strategic relationship.
China also became a crucial investor in Iran's oil and gas industry as U.S. and international sanctions reduced Iran's access to foreign capital and the technology needed to develop its deteriorating energy sector. By 2019, China consumed 12.8 million bpd--or 13 percent of total global consumption.
In recent times, Turkey has allied with Saudi Arabia against Iran, but tensions have grown due to differing geopolitical goals and Turkey's support for the Muslim Brotherhood. Turkey has also sought rapprochement with Iran, but their relationship has been marred by territorial disputes and regional power struggles.
In the first three weeks, Washington gave Iran $68 million in emergency aid, and an additional $1.2 billion over the next decade. In this era that ensued, until the fall of the Shah in 1979, Iran was one of the United States' closest allies.
Iran has a GDP per capita of $12,400 as of 2020, while in Australia, the GDP per capita is $48,700 as of 2020.
Early migrants from Iran were mostly oil service workers. The 1979 Iranian revolution and subsequent establishment of the Islamic Republic of Iran, followed by the war between Iran and Iraq (1980-88) resulted in an increase of migration from Iran to Australia.
Demographics & education
In the 2016 Census, there were 58,106 people in Australia who were born in Iran.
Iran holds 10% of the world's proven oil reserves and 15% of its gas. It is OPEC's second largest exporter and the world's fourth largest oil producer.
Iran is the world's fifth most resource-rich country, with the second largest natural gas reserves and the fourth largest crude oil reserves, and with a total value of resources amounting to $27.3 trillion.
Iran ranks second in the world for natural gas reserves and fourth for proven crude oil reserves. While relatively diversified for an oil exporting country, economic activity and government revenues still rely on oil revenues and have, therefore, been volatile.