Iran’s foreign trade balance hits -$6bn in 11-month period

MNA – Iran’s non-oil foreign trade balance hit minus $6 billion in 11 months of the current Iranian fiscal year(from March 21, 2017 to Feb. 22, 2018), according to recent statistics.

According to the latest report released by the Islamic Republic of Iran Customs Administration (IRICA), imports enjoyed a significant 23 percent growth in the same period.

Accordingly, Iran’s non-oil exports stood at a considerable five percent growth as compared to the last year’s corresponding 11-month period.

IRICA put the total non-oil exports value at $41.69 billion, showing a significant 4.96 percent growth as compared to the same period last year.

In total, $39.719 billion worth of products were exported from the country in the same period.

Meanwhile, Iranian export of non-oil products to China since the beginning of the current Iranian fiscal year up to the end of Iranian month of Bahman (Feb. 22, 2018) increased 11.29 percent as compared to the same period last year, IRICA reported.

It is worth mentioning that customs formalities for exporting 151,892,000 tons of goods has been conducted through a smart and integrated system integratedin all customs offices throughout the country.

The report added that products, valued at $47.657 billion, were imported into the country, showing a considerable 23.61 percent growth as compared to the same period last year.

Iran’s major export products during this period include gas condensates valued at $6.33 billion, liquefied natural gas valued at $2.509 billion, liquefied propane valued at $1.338 billion, methanol valued at $1.077 billion and light oils and byproducts except gasoline valued at $1.067 billion, IRICA concluded.