TEHRAN – The production of 22 major mining and industrial products has increased in the first five months of the current Iranian calendar year (March 20-August 21), compared to the same period of time in the past year, Iranian Deputy Industry Minister Saeed Zarandi said.

According to Zarandi, the mentioned production growth has been achieved despite the specific economic conditions of the country due to the U.S. sanctions and the outbreak of coronavirus which has created problems in the production sector, IRNA reported.

In the mentioned period petrochemical sector achieved more than 25 million tons of production and registered an increase of more than six percent, while production of home appliances reached 1,523,000 units to register 42 percent growth, production of aluminum ingots reached 160,000 tons with an increase of nearly 50 percent, crude steel production exceeded 11 million tons and increased eight percent, passenger cars production stood at nearly 345,000 units with a growth of 18 percent and finally cement production increase by 13 percent to reach 29.5 million tons.

The official noted that nearly €11 billion worth of the mentioned products were exported from the country in the mentioned period, while the value of the imports of such commodities stood at about €14 billion.

“The downward trend in the imports was due to the closure of borders earlier this year and problems created by the outbreak of the coronavirus worldwide,” he explained.

He further said that more than 2,370 licenses have been issued for production units in the mentioned five months in which over 326 trillion rials (about $7.76 billion) have been invested and direct job opportunities have been also created for nearly 42,000 people.

Iranian Industry Mining and Trade Ministry has been following various programs for supporting domestic production in the current Iranian calendar year which has been named the year of “surge in production” by the Leader of the Islamic Revolution Seyed Ali Khamenei.

These programs include reviving idle units and providing bank facilities for the country’s production units and small and medium-sized enterprises (SMEs).

EF/MA