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Iran’s imports register a 22% decrease

Business Materials 8 February 2016 18:03 (UTC +04:00)

Baku, Azerbaijan, Feb. 8

By Umid Niayesh - Trend:

Iran imported $33.843 billion worth of goods during the first ten months of current fiscal year (started March 2015), which indicates a 22 percent decline, compared to the same period of the preceding year.

Iran imported some 28.287 million tons of goods during that period which is 19 percent less compared to the first ten months of last fiscal year, according to the , latest statistics released by Trade Promotion Organization of Iran (TPOI).

Corn fodder worth $1.148 billion topped the list of Iran's imported goods with 3.8 percent share from the country's total imports' value. Iran's corn fodder imports indicate a fall by 18 percent year on year.

After corn fodder, wheat worth $704 million, soybean worth $620 million, rice worth $583 and car parts worth $545 million were other main imported goods of the Islamic Republic.

Tehran's wheat import decreased by 66 percent in terms of value, meanwhile rice imports indicated a fall by 53 percent in terms of value year on year.

The country's soybean imports witnessed a huge rise by 1069 percent in terms of value, however the volume of the imported soybean registered a fall by 16 percent, according to the report.

The car parts' import also registered a rise by 11 percent year on year.

The average price for each ton of Iran's imported goods in the mentioned period was $1196, which is 4.5 percent less than the previous year.

Iran purchased 66 percent of its total imported goods in the 10-month period from five countries - China, the United Arab Emirates, South Korea, Turkey and Swiss.

China was the main exporter of goods to Iran in the mentioned period. Beijing's exports accounted for 25.1 percent of Iran's total imports in terms of value.

Iran imported $8.488 billion worth of goods from China during the 10-month period.

The China exports to Iran witnessed a fall of 16 percent in terms of value, according to the report.

Iran also imported $6.269 billion worth of goods from the UAE (37 percent fall), which marks 18.5 percent of Iran's total imports' value.

South Korea, Turkey, and Swiss exported $3.055 billion, $2.488 billion, and $2.174 billion worth of goods respectively to Tehran.

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