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Iran's non-oil trade balance deficit is at $7 billion

Business Materials 5 November 2012 15:36 (UTC +04:00)

Azerbaijan, Baku, Nov.5/ Trend G.Mehdi/

Iran's non-oil trade balance amounted to minus $7 billion during the first seven months of the current Iranian calendar year, which began on March 20, ISNA reported on Monday.

Over 45 million tons of goods (including condensates), worth $24.67 billion were exported and 23.54 million tons of goods, worth $31.71 billion were imported during the 7-month period, according to the report.

The exports and imports decreased by 1.44 percent and 7.94 percent respectively compared to the same period last year.

On August 8, the Iranian Customs Administration reported that trade balance of Iran with 92 countries was positive in the first half of 2012.

Meanwhile, First Vice-President Mohammad-Reza Rahimi announced in January that Iran's overall non-oil trade balance is anticipated to reach zero in the current Iranian calendar year.

On August 5, Finance and Economic Affairs Minister Shamseddin Hosseini said Iran conducted economic transactions with 150 countries in the last calendar year.

Iran's annual trade turnover is projected to reach $160 billion by the end of the fifth five-year development plan (March 2016).

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