Iran's mining, mineral industries sector exports USD8.8B worth of products in 8 months
Date
12/23/2024 2:39:57 AM
(MENAFN) Iran's Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported that the mining and mineral industries sector exported approximately USD8.8 billion worth of products in the first eight months of the current Iranian year, marking a notable increase in both tonnage and export value. Between March 20 and November 21, Iran exported 41.79 million tons of mining and mineral products valued at USD8.799 billion, reflecting a 2 percent increase in tonnage and a 3 percent rise in value compared to the same period last year, when exports totaled 41.14 million tons worth USD8.552 billion.
The bulk of the exports consisted of steel, aluminum, and copper products, which together accounted for 21.52 million tons valued at USD6.767 billion. These sectors continue to be key contributors to Iran's mining industry, playing a central role in the country's non-oil export revenues. The significant export figures underscore the strength of Iran’s mineral sector in global markets, despite ongoing economic challenges.
On the import side, Iran brought in 2.89 million tons of mining-related goods worth USD7.496 billion during the same period. This represents a decrease of 19 percent in tonnage compared to the 3.56 million tons imported in the previous year, but the value of imports surged by 78 percent, rising from USD4.205 billion to USD7.496 billion. The sharp rise in import value highlights growing domestic demand for certain mining products, alongside increased global prices.
Iran's mining sector plays a critical role in the national economy, thanks to its extensive mineral resources. With over 68 types of minerals, including large reserves of iron ore, copper, zinc, and rare earth elements, Iran ranks among the world's top 15 mineral-rich countries. These resources offer significant potential for the country’s long-term economic development and global trade presence.
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