Official announces 100-fold increase in Iran’s non-oil exports in 40 years

Tasnim – An Iranian trade official said the value of the country’s non-oil exports has increased by 100 times over the past 40 years.

The deputy head of the Trade Promotion Organization of Iran, Mohammad Reza Modoudi, told a radio program that the country’s export of non-oil products has grown dramatically over the past four decades.

While the value of non-oil exports stood at $500 million in 1977, Iran has managed to export $50 billion in non-oil goods recently, the official noted, saying it indicates a 10,000 percent increase.

Despite the constant political and international pressures on Iran and the burden of economic sanctions in the past four decades, the pace of exports has not slackened, Modoudi added.

He also stated that in spite of the poor economic conditions in the current Iranian year (March 2018- March 2019) and fluctuation in foreign currency rates, the value of non-oil exports in the first six months of this year has increased by 13 percent in comparison with the corresponding period last year.

In August, Iran’s Customs Office said the value of non-oil exports in the first five months of the current Iranian year grew by 13.7 percent in comparison to the corresponding period last year.

The top five export destinations in the 5-month period were China, the United Arab Emirates, Iraq, Afghanistan and India.

And the five countries from which most of Iran’s imports came were China, the United Arab Emirates, South Korea, India and Germany.