Iran’s exports increase by 13% over 7 months

Business Materials 13 November 2018 17:09 (UTC +04:00)

Baku, Azerbaijan, Nov. 13

By Elnur Baghishov – Trend:

Iran’s exports have increased by 13 percent over initial 7 months of the current year and the value of exports has exceeded $27 billion, Mehr news agency quoted the Deputy Chairman of Iran’s Trade Promotion Organization Mohammad-Reza Modudi as saying at a press-conference.

He said the volume of export of industrial products has exceeded $12.4 billion. The exports in carpet weaving and handicraft sectors have decreased by 14 percent, he added. This has resulted from suspension of export of carpets to the US, he explained.

Modudi added that Iraq has become the main export market for Iranian goods for the first time. Although the exports to China have increased by 11 percent, this country is the second export market for Iran, he noted.

The neighboring countries have potential for import of goods in the amount of $1 trillion, said Modudi.

If Iran can satisfy a part of demand of this market, it will undoubtedly be able to compensate the decline of demand in other markets, he said.

“Iran keeps in mind the possibility of export of 50 percent of its products to 13 neighboring markets. In any case, the export sector has taken a right step in the period of sanctions and pressures,” he noted.

“The purpose of the US is to put restrictions on Iran’s foreign trade. The United States want to cut down foreign currency revenues of Iran. Meanwhile, an opportunity has appeared for local producers to strengthen the local production sector and to expand their activities at the time when the importers considering Iran as the world’s 19th largest sales market, don’t have access to this market,” Modudi said.

He said the orders for Iranian goods amounting to 61.5 billion euros have been recorded within 7 months of the current year.