Iranian Exports to Saudi Arabia Grow by Almost 35,000%: Report
Iran’s exports to Saudi Arabia have seen a dramatic increase in the past year, reaching $14.71 million for the period from the Iranian New Year, March 21, 2022, to Nov. 1, 2022, the state-controlled Islamic Republic of Iran Broadcasting news agency reported on Saturday. This was a record high since Riyadh cut diplomatic relations with Tehran in 2016, and comes amid efforts by the two countries to improve bilateral relations and ease regional tensions. During the same period in 2021, Iran exported only $42,000 worth of goods and services to Saudi Arabia. The figure for 2022 amounts to an increase of approximately 34,924%. The main exports include steel ingots, grapes, and sodium hydroxide, also known as lye or caustic soda, a strong alkali commonly used in a variety of industries including soap making, paper production, and oil refining.