Iran’s negative trade balance improved by $4.4 billion

Business Materials 16 December 2012 17:22 (UTC +04:00)

Azerbaijan, Baku, Dec. 16/ Trend G.Mehdi/

Iran's negative trade balance (excluding oil and condensates) experienced over $4.4 billion increase during the first 10 months of 2012, reaching $20.013 billion, the Mehr News Agency reported, citing Customs Administration data.

The figure was $24.465 billion in the same period in 2011.

During the 10-month period, 57.461 million tons of goods, worth $28.871 billion were exported and 35.206 million tons of goods worth $48.884 billion were imported.

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.

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