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FinancialNews
02-05-23
Iran's Non-Oil Trade Reaches USD6.7B in First Month of New Calendar Year
(MENAFN) According to data released by the Islamic Republic of Iran Customs Administration (IRICA), Iran's non-oil trade for the first month of the current Iranian calendar year (March 21 - April 20) reached a value of USD6.732 billion. This is a significant figure, and it underlines the importance of Iran's non-oil sector to the country's economy. The value of non-oil exports amounted to USD3.645 billion, with 10.471 million tons of goods being exported. Although the value of exports fell by 12.93 percent compared to the same period last year, there was a significant increase in weight, with a rise of 17.76 percent. The major exported items were liquefied natural gas, liquefied propane, liquefied butane, iron and steel ingots, and methanol. The top export destinations for Iranian non-oil products were China, Iraq, Turkey, UAE, and India.
In the first month of the current Iranian calendar year, Iran imported 1.829 million tons of non-oil commodities valued at USD3.087 billion. This represents a 13 percent drop in value and a 24.79 percent fall in weight compared to the previous year. The main imported items were corn used as livestock food, soybeans, rice, mobile phones, and car manufacturing parts. The top sources of imports were the UAE, China, Turkey, Germany, and India.
The Trade Development Committee of the Iranian House of Industry, Mining, and Trade has announced that the value of Iran's non-oil exports rose by 10 percent in the past Iranian calendar year 1401, which ended on March 20. Ruhollah Latifi, the committee's spokesman, stated that 122.056 million tons of non-oil commodities worth $53.166 billion were exported in the previous year. The top export destinations for Iranian goods in 1401 were China, Iraq, Turkey, UAE, and India, with China purchasing $14.584 billion worth of commodities. Iraq, Turkey, UAE, and India saw significant growth in their purchases of Iranian goods, with growth rates of 15 percent, 23 percent, 28 percent, and 18 percent respectively. The rise in non-oil exports is a positive sign for Iran's economy, which has been impacted by sanctions, COVID-19, and other challenges in recent years.
MENAFN02052023000045014146ID1106154006
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