Iran exports register $4b surge amid trade deficit: IRICA
According to recent figures by the Islamic Republic of Iran Customs Administration, the country’s foreign trade (excluding crude oil and condensates) during the first seven months of the current Iranian year (March 20-October 21), reached $72 billion.
IRICA statistics indicate that during the seven months to October 21, the country’s non-oil exports reached 88.701 million tons with a value of $32.52 billion, which shows an increase of 11.48% in weight terms and 14.72% in value compared to the same period last year, ISNA reported.
In addition, the imports in the seven-month period hit 21.719 million tons worth $39.5 billion, showing an increase of 2.7% in weight terms and 8.8% in value.
China was the top destination for Iranian exports, receiving $8.6 billion worth of exports, or 26.4% of the total export value. This was followed by Iraq, with $7.2 billion, or 22.4% of the total and the United Arab Emirates with $4.2 billion, or 12.9%; Turkey with $3.3 billion, or 10.2%; and Afghanistan with $1.3 billion, or 4% of the total export value, according to IRICA figures.
The UAE held the top position among the countries that exported to Iran during the first seven months of the current Iranian year, with a value of $12 billion in imports and a share of about 30.3% of the total import value. China with $10.2 billion, or 25.8% of the total import value; Turkey with $6.5 billion, or 16.6%; Germany with $1.4 billion, or 3.6%; and Russia with $958 million, or 2.4% of the total import value were other top exporters to Iran.
Also, Iran’s transit volumes during the seven months amounted to 13.239 million tons, a 41.7% increase compared to the same period last year.