Iran’s 7-month non-oil imports down over 5% yr/yr

November 17, 2019

TERHAN - The value of non-oil imports to Iran stood at $25 billion in the first seven months of the current Iranian calendar year (March 21-October 22), down 5.3 percent from the figure for last year’s same period, IRNA reported.

According to the data released by the Islamic Republic of Iran Customs Administration (IRICA), the country imported 19.8 million tons of commodities in the said time span to register a three-percent rise in terms of weight. 

Meanwhile, some 79.5 million tons of commodities worth $24.5 billion were also exported from the country in the mentioned seven months, indicating a 17-percent rise in terms of weight and an 11.3-percent fall in terms of value.

As reported, China, Iraq, Turkey, United Arab Emirates (UAE), and Afghanistan were the top five export destinations of Iranian products, while China, UAE, Turkey, India, and Germany were the five major exporters of goods to Iran in the first sevent months of the current year.

As the Iran’s top trade partner, China accounted for 25 percent of the county’s non-oil exports, importing nearly $6 billion worth of commodities from Iran in the mentioned seven months.

Iraq followed China closely by importing nearly $5 billion worth of various goods, accounting for 21 percent of Iran’s total exports. 

As previously announced by IRICA, the value of Iran’s non-oil exports stood at $44.3 billion in the previous Iranian year, while $42.6 billion worth of commodities were shipped into the country.

Iran shares border with fifteen countries, namely the United Arab Emirates, Iraq, Turkey, Afghanistan, Pakistan, Russia, Oman, Azerbaijan, Turkmenistan, Kuwait, Qatar, Kazakhstan, Armenia, Bahrain, and Saudi Arabia.

Based on the data published by Trade Promotion Organization of Iran (TPO), the value of trade with the neighboring countries stood at over $36.5 billion in the past Iranian calendar year, which is about 41 percent of the country’s total non-oil trade in the mentioned time span.

Iran plans to launch 15 mega export projects to identify more target markets, according to TPO former head.

Mohammadreza Modoudi said with the implementation of these projects, which mainly focus on the markets of neighboring countries, identifying professional trade and promoting export of non-oil commodities will be put on agenda, Mehr news agency reported.

The official further referred to the $1.7 billion positive trade balance in the country’s non-oil trade in the past Iranian calendar year (ended on March 20, 2019), and said this positive balance was achieved through cooperation with the private sector.

EF/MA
 

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