Iran non-oil trade to hit $45bln

Business Materials 16 May 2011 22:59 (UTC +04:00)

Iran will increase non-oil exports to $45 billion, the Iran's Commercial Ministry's News Agency Shaba reported quoting the head of Iran's Trade Development Organization Hamid Sadel as saying.

"Iran's Trade Development Organization plans to increase non-oil export in all sectors including technical and engineering services," Hamid Safdel said.

The plan designates specific roles of related organizations and import industry, he added.
Chemical products, mineral fuels, plastics, steel and fruits including 60 percent of Iran non- oil export.

The increase in Iran's trade comes despite tightened United States and European Union sanctions imposed since the summer of 2010 against Iran, due to its disputed nuclear program.

In addition to its non-oil exports, Iran sold some $70 billion crude oil during the past Iranian year (ended March 20, 2011), according to media reports.

Iran exported $28.4 billion worth non-oil products together with technical and engineering services, as well as $66.21 billion worth oil and gas products during the previous Iranian year (ended March20, 2010).

According to the International Monetary Fund (IMF), Iran is the third largest country in the Middle East and Central Asia in terms of exports and imports.