Trade volume up in eight months despite lower overall value: IRICA
Iran’s foreign trade reached more than 131 million tons worth upwards of $76 billion in the first eight months of the current Iranian year, which began on March 21, according to data from the Islamic Republic of Iran Customs Administration (IRICA).
Total trade volume — the sum of exports and imports — rose 1.53% in weight compared with the same period last year, but the total value fell 9.38%, the data showed, IRNA reported.
Exports amounted to 105.231 million tons valued at $36.997 billion, marking a 1.17% increase in weight and a 3.48% decline in value year-on-year.
Imports reached 25.823 million tons worth $39.540 billion, reflecting a 3% increase in weight and a 14.29% drop in value from the previous year.
IRNA reported that part of the rise in export volumes this year appears linked to energy shortages in industrial and mining sectors, which left production capacity underutilized and pushed producers toward exporting further raw materials such as iron concentrate and pellets.
Iran continues to face nationwide energy shortages, with recurring power disruptions putting sustained pressure on the country’s electricity grid.
According to recent figures from the Iranian Steel Producers Association (ISPA), exports of raw materials in the steel supply chain continue to surge. Exports of iron ore concentrate alone grew 82% compared with the first seven months of last year — a trend that has raised concerns among steelmakers, who warn that the outflow of the key input could strain domestic supply.