Iran reports record non-oil exports last calendar year
TPO chief prioritizes regional pacts, barter deals
The head of Iran’s Trade Promotion Organization (TPO) announced a record-breaking figure in the country’s non-oil exports last Iranian calendar year (began on March 20,2024), emphasizing the necessity of strategic export development, particularly through regional agreements, barter arrangements, and joint investments.
According to ISNA, Mohammad Ali Dehqan Dehnavi, during a televised interview discussing Iran’s export statistics, stated, “Last year, Iran’s non-oil exports reached $57.8 billion, marking a 16% growth compared to the previous year. This achievement can be regarded as a highly favorable statistic and a significant milestone for the country’s economy.”
The head of TPO enumerated Iran’s export goods, saying a substantial portion of non-oil exports relates to petrochemical products and polymer materials. Mineral industries and industrial goods, as well as agricultural products and food industries, also hold significant shares in exports.
“China, Iraq, the UAE, Turkey, Afghanistan, and Pakistan are among Iran’s primary export destinations. Exports to China rank first, while Iraq holds the second position with approximately $12 billion in exports,” the deputy minister of Industry, Mine, and Trade added.
The head of TPO highlighted Turkey’s prominent role in regional markets, noting, “Turkey employs progressive and effective export strategies, ranging from strong incentives to transportation and logistics infrastructure. Some of these strategies can be adopted in Iran. Large factories in Iran, particularly in the food and detergent sectors, could dominate regional markets with adequate support. TPO is planning to provide necessary incentives and facilities to exporters.”
Barter to counter sanctions
The deputy minister underscored, “Amid ongoing sanctions against Iran, barter has emerged as a vital instrument to sustain and expand foreign trade. Iran has signed barter agreements with several countries, though their names cannot be disclosed due to technical and security reasons.”
He cited the formal launch of banking cooperation with Russia as a successful example, stating, “If there is political will on the other side, even formal banking activities become possible.”
Missing link in exports
The TPO chief stressed Iran’s weakness in export branding, saying, “A large portion of our exports consists of raw and semi-processed goods, which do not require branding. However, industrial and food products need commercialization and branding. Measures have been initiated in this regard: The National Brand Commission has been established at TPO, and conferences have been held to prioritize support for export management companies and export consortia.”