Non-oil exports in Iran rise by 10 percent in 5 months yr/yr
(MENAFN) Iran's non-oil exports have experienced a significant boost, increasing by 10 percent during the first five months of the current Iranian calendar year, which spans from March 20 to August 21, compared to the same period last year. This growth was highlighted by Mohammad Rezvanifar, the head of the Islamic Republic of Iran Customs Administration (IRICA). During this period, Iran managed to export 60.5 million tons of non-oil goods, generating USD21.9 billion in revenue. This also reflected a seven percent increase in the total weight of exports, demonstrating the country's enhanced capacity to trade non-oil commodities year-on-year.
Rezvanifar further elaborated that petrochemical products stood out as the primary non-oil export during this period, contributing significantly to the overall export figures. The main markets for these Iranian non-oil goods were China, Iraq, the United Arab Emirates (UAE), Turkey, Afghanistan, Pakistan, and India. These countries have consistently been key trading partners for Iran, absorbing a large portion of its non-oil exports and helping to sustain the upward trajectory in the nation’s trade performance.
On the import front, Iran also saw considerable activity. The country imported 15.7 million tons of non-oil products worth USD26.3 billion over the same five-month period. This marks a 5.53 percent increase in the value of imports and a 7.93 percent growth in weight compared to the same timeframe last year. The rise in imports indicates a robust demand for various goods necessary for Iran’s economy, particularly in sectors not reliant on domestic production, and shows a balanced trade flow despite global economic challenges.
According to Rezvanifar, raw gold emerged as the primary imported item during this period, underscoring its importance in Iran's import portfolio. The UAE, China, Turkey, Germany, India, Russia, and Hong Kong were identified as the major sources of these imports. These countries provided a diverse range of products essential for Iran’s economy, reinforcing strong trade ties and ensuring a steady supply of goods to meet domestic needs. This mix of export growth and strategic imports reflects Iran's ongoing efforts to diversify its trade partnerships and strengthen its economic resilience.
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