Iran reports rise in non-oil exports in month to late September

Iran has reported a significant surge in the value of non-oil exports in the month to late September amid an easing of trade restrictions meant to curb the coronavirus pandemic.

The Iranian customs office (IRICA) said on Saturday that exports had reached $2.691 billion in value terms from August 22 to September 21, an increase of 24.5 percent on the previous calendar month.

IRICA spokesman Rouhollah Latifi said shipments sent to other countries in the 31-day period had amounted to 8.252 million metric tons.

On imports, Latifi said Iran had taken delivery of 2.690 million tons of goods worth $3.076 billion.

Main export destination included China with $669 million worth of shipments followed by Iraq and United Arab Emirates on $565 million and $379 million, respectively.

The UAE was high on the list of top importers to Iran with $775 million worth of goods, followed by China on $743 million and Turkey on $339 million. Main import items included agricultural inputs and machinery, said Latifi.

IRICA said the month to late September was a return to normal for Iran’s trade with the rest of the world as restrictions imposed to curb the coronavirus in other countries began to ease.

Latifi said exports and imports had declined year on year in August-September by 5.4 percent and 15 percent, respectively. However, he said the decline was milder than figures recorded over the first five of the current calendar year beginning late March.

The surge in trade activity for Iran comes despite the fact that the country still remains under a raft of economic sanctions imposed by the United States which makes payment settlement and other issues more difficult.

Meanwhile, the sanctions have caused a boom in Iran’s non-oil exports, especially for petrochemical and agricultural products as the country has moved to diversify the economy away from oil revenues.

 

Source: Press TV

Leave a Reply

Your email address will not be published. Required fields are marked *