Iran’s non-oil exports up 42% in March-November: IRICA

Figures by Iran’s customs office (IRICA) shows that non-oil exports from the country rose by 42% in value terms in March-November to a total of $31.1 billion.

IRICA Chief Mehdi Mir Ashrafi said on Saturday that petrochemicals had accounted for 43% of the value and nearly a half of the volume of Iran’s exports in the eight months to November 21.

According to Press TV, Mir Asharfi said largest exports destination over the period included China with $9.1 billion worth of purchases, followed by Iraq at $6.1 billion and Turkey at $3.8 billion, adding that exports to the United Arab Emirates (UAE) and Afghanistan had amounted to $2.9 billion and $1.27 billion, respectively.

However, Iran had a trade deficit of $900 million in March-November as imports into the country topped $32 billion, an increase of 38% compared to the similar period last year, according to the IRICA figures. 

Basic goods had accounted for 38% of the value of all imports into Iran in the eight months to late November, said Mir Asharfi, adding that the government had provided some $9.9 billion of funds to subsidize those shipments at an official exchange rate which is eight times lower than the current market price.

The UAE, the main re-exporting hub in the Persian Gulf, remained the largest supplier of goods to Iran in March-November with $10.1 billion worth of exports to the country, followed by China at $7.2 billion and Turkey at $3.2 billion, said IRICA chief.

Germany and Switzerland were the fourth and fifth largest exporters to Iran over the same period with $1.2 billion and $1.1 billion worth of shipments, he said.

ME