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Iran’s exports of non-oil goods to neighbors rise by 16 percent in 4 months
(MENAFN) The value of Iran’s non-oil exports to its neighboring countries saw a significant increase of 16 percent during the first four months of the current Iranian calendar year (March 20-July 21), compared to the same period last year, announced Mohammad Rezvanifar, the head of the Islamic Republic of Iran Customs Administration (IRICA). During this period, Iran exported 26.981 million tons of non-oil commodities worth USD10.642 billion, marking a six percent rise in terms of weight year on year.
Rezvanifar also highlighted that Iran imported 7.215 million tons of non-oil goods valued at USD9.179 billion from neighboring countries within the same timeframe. This reflects a one percent growth in terms of weight but a four percent decrease in terms of value compared to the previous year. Consequently, Iran's trade balance with its 15 neighboring countries was positive by USD1.5 billion during this period, excluding oil transactions.
Previously, Rezvanifar had reported that Iran's total non-oil exports amounted to USD17.5 billion in the first four months of the current Iranian calendar year, registering an 8.0 percent growth year on year. The total value of the country’s non-oil trade during these four months reached USD36 billion. However, the country imported USD18.5 billion worth of non-oil products, about 6.0 percent less than the previous year's corresponding period. This resulted in a trade balance that was USD1.0 billion negative, indicating a significant improvement compared to the previous year’s same period.
For comparison, in the first four months of the previous Iranian year, Iran exported nearly USD16 billion worth of non-oil goods and imported about USD19.5 billion. The trade balance at that time was negative USD2.5 billion. The improvements in both export value and the reduction in import value highlight a positive shift in Iran's non-oil trade balance, despite the ongoing economic challenges.
Rezvanifar also highlighted that Iran imported 7.215 million tons of non-oil goods valued at USD9.179 billion from neighboring countries within the same timeframe. This reflects a one percent growth in terms of weight but a four percent decrease in terms of value compared to the previous year. Consequently, Iran's trade balance with its 15 neighboring countries was positive by USD1.5 billion during this period, excluding oil transactions.
Previously, Rezvanifar had reported that Iran's total non-oil exports amounted to USD17.5 billion in the first four months of the current Iranian calendar year, registering an 8.0 percent growth year on year. The total value of the country’s non-oil trade during these four months reached USD36 billion. However, the country imported USD18.5 billion worth of non-oil products, about 6.0 percent less than the previous year's corresponding period. This resulted in a trade balance that was USD1.0 billion negative, indicating a significant improvement compared to the previous year’s same period.
For comparison, in the first four months of the previous Iranian year, Iran exported nearly USD16 billion worth of non-oil goods and imported about USD19.5 billion. The trade balance at that time was negative USD2.5 billion. The improvements in both export value and the reduction in import value highlight a positive shift in Iran's non-oil trade balance, despite the ongoing economic challenges.
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