57% growth in IME monthly transactions yr/yr

August 29, 2016

TEHRAN- According to the latest released data, 2.7 million tons of commodities worth more than $33 trillion rials (above $932 million) were traded in Iran Mercantile Exchange (IME) in the fifth month of Iranian calendar year, Mordad (July 22- August 21), compared to the same time span in the previous year.

According to IRIB news, IME transactions witnessed a 57 percent growth in volume and a 26 percent rise in value in the said period, compared to the same time in the year before.
In the mentioned time, on the domestic and export industrial products and minerals pit of IME, approximately one million tons of various products worth more than $12 trillion rials (above $339 million) were trade, showing 52.8 percent increase in volume and 13.7 percent in value.
IME’s average trade volume has been worth five to seven percent of Iran’s gross domestic product in the past few years, Hamed Soltani-Nejad, IME’s chief executive, was quoted as saying by SENA news agency in early June. Soltani-Nejad added that IME is the second largest mercantile exchange in the region.
As reported, IME plans to go beyond the Iranian market by expanding its international collaboration with the suppliers, traders and other mercantile exchanges across the globe.
The Iranian body wants to boost its cooperation with the other exchanges and absorb the suppliers to exclude intermediaries because of years of isolation from the world trading system under the international financial embargo.

HJ/MA

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