Iran’s import of consumer goods rises but capital goods fall

Financial Tribune – A total of $7.6 billion worth of consumer goods and $29.44 billion worth of intermediate goods were imported in the last Iranian year to register a respective rise of 10.54% and 9.78% compared to the year before

Iran’s imports of consumer and intermediate goods jumped in the last fiscal year (March 2019-20) while the other major import category, i.e. capital goods, declined dramatically compared with the previous year.

The country imported 2.8 million tons of consumer goods worth $7.6 billion in the fiscal 2019-20 to register a 2.33% rise in weight and a 10.54% increase in value year-on-year.

Consumer goods are purchased for consumption. Alternately called final goods, consumer goods are the end result of production and manufacturing, and are what a consumer will see on the store shelf. Clothing, food and jewelry are all examples of consumer goods.

Imports of intermediate goods surged by 19.63% in weight and 9.78% in value last year to stand at 31.65 million tons worth $29.44 billion…