26 Apr 2024
Sunday 2 December 2018 - 23:10
Story Code : 329033

Irans trade surplus at $2bn March-Oct. 2018

Press TV - Official figures show Iran had a trade surplus of $2 billion over a period of eight months starting 21 March 2018 in what could be an indication that the countrys economy is still doing well in face of US sanctions.

Figures released by the Customs Department showed that Irans non-oil exports over the same period stood at $31.4 billion which was higher than the corresponding period last year by around 13 percent.

The Customs Department announced in a statement that Irans imports also lowered by 12.5 percent to reach $29.5 billion.

Irans leading export item was condensate which fetched the country $2.7 billion. This accounted for around 9 percent of the countrys overall non-oil exports, the statement added.

Other key export items included liquefied propane ($1.3 billion), light oil products excluding gasoline ($1.1 billion) and methanol ($1 billion).

Figures showed that the majority of Irans non-oil exports were petrochemical products (33 percent).

As for the imports, the leading items were feed corn ($1.2 billion). Other key items included auto parts ($1.1 billion), rice ($1.1 billion), and soy beans ($0.9 billion).

The top export destination for Irans non-oil products was Iraq which imported $6.7 billion worth of products from the Islamic Republic over the period.

The Customs Department said in its statement that exports to Iraq saw a whopping rise of 66.5 percent compared to the same period last year.

Next key destinations for exports of Iranian products were China ($6.4 billion), the UAE ($5.9 billion) and Afghanistan ($2.2 billion).

Also, leading exports to Iran were China ($7.3 billion), the UAE ($4.4 billion), South Korea ($1.7 billion) and India ($1.6 billion).
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