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Iran’s non-oil trade shows signs of improvement under Rouhani

Business Materials 21 April 2014 18:31 (UTC +04:00)

Baku, Azerbaijan, April 21

By Umid Niayesh - Trend:

The latest statistics of Iran's customs administration indicates that the country's non-oil trade volume has increased significantly after president Hassan Rouhani took office in last August.

Iran's non-oil exports value increased by 0.5 percent during the last Iranian calendar year (ended on March 20) and stood at $41.628 billion, according to the country's customs administration's "complete data" which was made public on April 20.

The report indicates that Iran's non-oil exports' value during the first half of the last Iranian calendar year was about $17.972 billion, some 14 percent less than the same period of preceding year.

However the figure stood at $23.656 billion during the second half of the year, some $5.684 billion more than first half.

Commenting on the significant increase of exports during the second half of last Iranian calendar year, the country's official IRNA news agency called it a success for Rouhani's administration.

Iran's total imports during the last calendar year stood at $49.422 billion, which indicates a fall by some 7.5 percent compared to the preceding year.

However the customs' administration report shows that Iran imported some $20 billion worth of goods during the first half of the last calendar year, which is 25 percent lower than imports' value in the same period of the preceding year.

The statistics confirm that the country's foreign trade has significantly flourished in the second half of the last Iranian calendar year, which is coincided with the Rouhani administration's first six months.

Statistics in detail

Comparing the last Iranian year's first and second six-month periods, indicates that the trade of the country's sanctioned goods has risen during the Rouhani's administration.

For instance, Iran's condensate exports approximately doubled during the second half of the last Iranian calendar year and stood at $6.91 billion.

Condensate is a type of light crude oil, which is extracted mostly from gas fields and Iran includes it in non-oil exports basket. The condensate export value shares about a quarter of Iran's none oil exports in total.

Petrochemical exports which also share some 25 percent of Iran's total non-oil exports stood at $6.242 billion during the second half of that last Iranian calendar year, some 140 percent more than in the first half.

The country exported some $4.481 billion worth of petrochemicals during the first half of the last Iranian calendar year.

Iran's LPG (liquefied petroleum gas) exports also doubled and stood at $1.521 billion during the second six-month period of the last year.

The value of the country's LPG exports during the first half of the year was $700 million.

Import of motor vehicles with internal combustion engine surpassed $1 billion during the second half of last Iranian calendar year, about one and a half times more than the imports in first six months.

Iran in total imported $371 million worth of motor vehicles with internal combustion engine in the first half of the last calendar year.

The country's sedan car exports increased from $16 million in last year's first half to $70 million in the second half.

The sedan car imports also indicate increase from $462 million to $1.158 billion during the mentioned periods respectively.

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