Iran-Tanzania Trade Overview

 Over the years, the bilateral trade between Tanzania and Iran had seen rapid growth. According to the Tanzania import export data records, the bilateral trade between the two crossed over $70 Million in 2022. There was around a 35% increase in overall imports and exports from Tanzania and Iran. In 2021, the overall trade was estimated around 12 million dollars. Tanzania and Iran are working collaboratively to expand their trade to $100 million by the end of financial year 2023. 

As per Tanzania import data reports, Tanzania imported around 12.5 million dollars worth of goods from Iran in the fiscal year 2022. During this period, Iran's most crucial exports were iron, steel, cereals, wheat, fertilizer, chemical, mineral fuels, oils, and medical equipment. Cement accounted for over 23% share of Tanzania's total imports followed by pasta (20%), petroleum oils (15%), and sodium peroxides (12%). 

Pharmaceuticals were another major import category. Tanzania’s pharmaceutical imports come from India, Egypt, Malaysia, France, South Africa, Turkey and Kenya. Tanzania customs data reports reflect that the country’s overall pharmaceutical imports in 2021 were estimated around 462 million dollars. Whereas, Iran had exported over Sh244.4 billion worth of pharmaceutical products.

On the other hand, there was significant growth in Tanzania’s exports to Iran. Tanzania’s exports to Iran saw 36% growth rate in FY 2021. According to the Tanzania export data, the country's overall exports to Iran reached staggering $500 million worth of goods. The most imported goods by Iran from Tanzania were mineral fuels, coffee, vegetables, fruits, tea, oil seeds, tobacco, iron ore, etc. Also, the dried legumes are responsible for over 90% of the total Tanzania's exports to Iran in FY 2021.

In terms of competitiveness, China was the most crucial importer of Iranian goods than Tanzania with over $6 billion worth of imports annually. China is then followed by Turkey and Pakistan. Tanzania's major exports come from India, UAR and South Africa. In 2022, India has imported over $1.92 Billion worth of goods from Tanzania. 

The Key sectors where Iran can see further growth are foodstuffs, chemicals and mineral goods while Tanzania's top performing sectors are vegetable produce, footwear and textiles. As compared to the historical trade data, from 2018, Iran and Tanzania trade grew by 15%. For Iran, Tanzania is a gateway to Iran’s export opportunities in East Africa.

Delegates from both nations are holding meetings to expand bilateral trade by making crucial investments in various sectors. There are high chances that the trade might grow in future. Tanzania exporters and buyers can capitalize this opportunity to expand their business.

Through the Exim Global import export data provider, companies from Tanzania and Iran can gain market intelligence from the international market. Here, you can explore the 200+ different markets through accurate import export data reports and excel your sales internationally. 

It gives you more power to your strategy based decision making. You can explore your product demand, discover their top importers, exporters, calculate custom duties, find sourcing and plan pricing. It is the most cost effective tool especially for Tanzania import export business owners to expand their business and generate more ROI.