Iran’s non-oil export basket incongruous

Financial Tribune – A total of 4,376 types of products in the basket of Iran’s non-oil exports earned the country $44.31 billion in the last fiscal year (March 2018-19).

Out of these commodities, 4,000 accounted for only 6% of the total export value ($2.65 billion) while the remaining 94% ($41.65 billion) pertained to 376 types of goods.

Around 29% of Iran’s total export value ($12.7 billion) belonged to only six commodities (0.13% of the total number of exported types of commodities) during the period. Notably, these six commodities were exported by only three governmental companies operating in the fields of oil, gas and petrochemicals.

The above remarks were made by former caretaker of Trade Promotion Organization of Iran, Mohammad Reza Modoudi.

Modoudi, however, didn’t specify the names of these companies.

No company from the private sector exported more than $1 billion worth of commodities last year.

The figure indicates exports still rely heavily on oil-based commodities produced by governmental companies.