Iranian export prices “Uncompetitive”

Financial Tribune- The decline in Iran’s export of non-oil products in the four months ending July 22, as reported by the Islamic Republic of Iran Customs Administration, is a result of their high prices in international markets, the deputy head of Iran Export Confederation at Iran Chamber of Commerce, Industries, Mines and Agriculture said.

Iran exported $13.45 billion worth of non-oil commodities during the period, down 9.54% year-on-year, ICCIMA’s news portal reported According to Mohammad Lahouti, Iran is losing to its rivals in international markets due to the uncompetitive prices of its exports.

Lahouti referred to high inflation in the country as a major contributing factor to soaring prices. The main destinations of Iranian exports during the four-month period were China, Iraq, the UAE, South Korea and India.