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Iran’s exports to Egypt surge by 1300 percent year on year

Business Materials 22 January 2013 18:05 (UTC +04:00)

Azerbaijan, Baku, Jan. 22 / Trend F.Mehdi/

The value of exports from Iran to Egypt has increased by 1300 percent in the first nine months of the current Iranian calendar year, which began on March 20, 2012, compared to the same period in the preceding year, ISNA reported.

Iraq, China, and the UAE were the three main importers of Iranian goods during the 9-month period.

Russia was the main importer of Iran goods in Europe, with importing $233 million worth of goods.

During the 9-month period, Iran conducted a trade of non-oil goods with other countries, worth over $73 billion, ILNA quoted Iranian Customs Administration Director Abbas Memarnejad as saying.

Despite all the global pressures, non-oil exports increased to $32 billion in the 9-month period, he added.

He added that Iran is currently conducting trade with 151 countries. He referred to liquefied propane, urea, methanol, and cement as the major exported goods and iron and steel ingots, wheat, and soy meal as the main imported ones.

At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran's oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Iranian Central Bank.

U.S. sanctions entered into force on June 28, while EU bans on Iranian oil imports came into force on July 1.
In October, the EU approved another major package of economic sanctions on Iran.

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