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Iran’s imports fall by 21% in 1Q15

Business Materials 6 May 2015 15:13 (UTC +04:00)

Baku, Azerbaijan, May 6

By Umid Niayesh - Trend:

Iran imported $12.112 billion worth of goods during the first quarter of 2015, which indicates a fall by 21 percent, compared to the same period of the preceding year.

Iran imported some 9.799 million metric tons of goods during that period which is 10.24 percent less compared to the first three months of 2014, according to the Iranian Customs Administration latest monthly report released May 5.

Motor vehicles with internal combustion engine worth $ 593 million topped the list of Iran's imported goods with 4.9 percent share from the country's total imports' value. Iran's motor vehicles imports indicate a huge rise by 23958 percent year on year.

After motor vehicles corn fodder worth $ 431 million and wheat worth $407 million were other main imported goods of the Islamic Republic.

The Islamic Republic imported 1.74 million metric tons of corn fodder in the first quarter of 2015, indicating an increase by 4752 percent in terms of volume year on year.

Iran's corn fodder imports also witnessed a rise by 3158 during the mentioned period compared to the first three months of 2014 in terms of value.

Tehran's wheat import has increased by 246 percent and 302 percent in terms of value and volume respectively compared with the first three months of 2014.

The three mentioned goods shared 11.8 percent of Iran's total imports in terms of value.

The average price for each one metric ton of Iran's imported goods in the mentioned period was $1236, which is 11.92 percent less than the previous year.

Tehran's overall non-oil trade turn over stood at $21.18 billion during the first three months of 2015.

Follow the author on Twitter: @UmidNiayesh

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