Raw materials constitute 85% of Iran’s imports

July 3, 2020 - 14:37

TEHRAN – Iran’s acting minister of industry, mining and trade said on Thursday, 85 percent of the country’s current imports are raw materials for the production and industry sectors, IRNA reported.

According to Hossein Modares Khiabani, the other 15 percent are mostly consumable products.

Mentioning the reduction of the country’s foreign trade due to the outbreak of coronavirus, Khiabani said the gap between production and exports is getting smaller with the re-opening of the country’s borders with the neighboring countries.

The global trade has declined by 33 percent due to the pandemic, he said.

The official also noted that every year $1.5 billion worth of cell phones are imported into the country and the domestic producers must be supported to prevent the outflow of the country’s revenues.

Back in June, Khiabani said his ministry has it on the agenda to export $41 billion worth of non-oil commodities in the current Iranian calendar year (March 2020-March 2021), while preventing the imports of unnecessary commodities.

Neighboring countries are the main target for the mentioned exports, he said.

Since the re-imposition of the U.S. sanction, Iran has been focusing on the promotion of domestic production and limiting the imports in order to move the economy toward self-sufficiency and resilience.

According to the head of the Islamic Republic of Iran Customs Administration (IRICA), 35 million tons of goods were imported into the country during the previous Iranian calendar year (ended on March 19).

EF/MA

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