Iran sets target of $4b in food, pharmaceutical exports

July 6, 2019

TEHRAN – The Iranian Industry, Mining and Trade Ministry has it on agenda to boost the exports of foodstuff, pharmaceuticals and sanitary products to $4 billion in the current Iranian calendar year (ends on March 19, 2020).

According to the ministry’s portal, promoting foreign trade and in collaboration with domestic and foreign enterprises is on the ministry’s agenda for the current year.

In June, the ministry announced it has planned to boost the annual export of commodities and services to 15 neighboring countries to $32 billion in the current Iranian calendar year.

In April, the industry minister said the country plans to double exports to the neighboring countries by the [Iranian calendar] year 1400 (March 2021-March 2022).

The value of Iran’s non-oil exports reached $8.4 billion in the first two months of the current year (March 21-May 21), up 8.9 percent year on year.

Meanwhile, the country’s non-oil imports stood at $6.7 billion, an 8 percent decrease compared to the year before.

According to the data released by the Islamic Republic of Iran Customs Administration (IRICA), the value of Iran’s non-oil trade stood at $4.87 billion during the first Iranian calendar month of Farvardin (March 21-April 20), down 17 percent compared to the same period last year.

EF/MG
 

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