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Iran’s non-oil exports see rise over 5 months

Business Materials 22 September 2018 15:39 (UTC +04:00)

Baku, Azerbaijan, Sept. 22

Trend:

Iran exported $19 billion worth of goods during the first five months of the current Iranian calendar year (started March 21), the head of the Central Bank of Iran said.

“The value of Iran’s non-oil exports over five months to Aug. 22 stood at $20 billion,” Abdolnaser Hemmati said on Sept. 22, IRIB news agency reported.

He added that Iran sold gas and oil products worth $3 billion during the period.

Some $16 billion of the non-oil products should still return to the country’s economic cycle, the official said.

Iran’s non-oil foreign trade in the last fiscal year (ended March 20, 2018) stood at $101.23 billion, indicating a 15.5 percent rise compared with the year before.

Exports during the 12-month period hit 132.3 million tons worth $46.93 billion, indicating a 6.56 percent rise year-on-year (YoY), the latest report by the Islamic Republic of Iran Customs Administration reads.

Imports amounted to 38.73 million tons worth $54.3 billion, up 24.31 percent YoY. The key driver of growth in imports was the higher inflow of basic goods, auto parts and capital goods.

Exports of industrial goods saw a rise of 22.27 percent last year while exports of petrochemicals and gas condensates experienced a decline of 8.29 percent and 3.28 percent, respectively.

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