Iran’s foreign trade value exceeds $9bn in two months: IRICA

Iran’s foreign trade value in the first two months of the current year (from March 21 to April 20) hit $9.341 billion.

According to the latest figures published by the Islamic Republic of Iran Customs Administration (IRICA) on Sunday, Iran has exported and imported $4.3 and $5.41 billion worth of non-oil products respectively in the first two months of the current year.

IRICA put the total volume of goods exchanged in this period at 21 million tons, 14.5 million and about 6.5 million tons of which related to exports and imports respectively.

China topped the list of main export customers with $1.190 billion worth of non-crude goods imported from Iran. Iraq came second with $1.107 billion followed by the United Arab Emirates (UAE) on $0.682 billion.

Main exporters to Iran were China with $1.234 billion worth of goods shipped, followed by the UAE on $1.078 billion and Turkey on $535 million, showed the IRICA report.

Experts say increasing exports of agrifood, petrochemicals and other goods from Iran is a sign the country is gradually diversifying its economy away from normal oil revenues.

The government aims to reach an annual target of $50 billion worth of non-crude exports in the upcoming years to compensate for the losses suffered from slashed oil shipments.

SS