Iran trade value to top $150bn

Business Materials 20 July 2011 13:58 (UTC +04:00)
Director of the Islamic Republic of Iran's Customs Administration Abbas Memarnejad forecasts the country's trade transactions to witness a substantial increase for the current Iranian calendar year (started March 21), reported Press TV.

Memarnejad said on Tuesday that the volume of Iran's trade turnover -- including export of non-oil products, import, and transit of commodities, will rise to $150 billion for the period, IRIB reported.

He added that Iran's exports experienced a 45-percent jump in the first quarter of the current Iranian year in comparison with the figure recorded for the corresponding period last year.

The official noted that the Islamic Republic of Iran exported $10 billion worth of gas condensates during the same period.

According to figures released by Iran's Customs Administration, the Islamic Republic exported about 7.4 billion dollars of non-oil items, excluding gas condensates during the previous first quarter of last year -- March 21-June 21.

The exported items included mineral fuels, chemical products, plastics, fruits, nuts and fertilizers.

Singapore, South Korea, Turkey, Indonesia and Japan were among the top 20 destinations for Iranian export items.

President Mahmoud Ahmadinejad said on July 14 that Iran plans to expand its non-oil exports to more than 45 billion dollars in the current Iranian calendar year.

Meanwhile, Iran's imports reached about $13.7 billion between March 21 and June 21.

The majority of import items included machineries, iron and steel, electrical systems and grain. Iran imported the commodities mainly from China, Belgium, Ukraine and Malaysia.