Iran discloses amount of currency returned from export of goods

Business Materials 26 November 2018 20:53 (UTC +04:00)

Baku, Azerbaijan, Nov. 26

By Elnur Baghishov – Trend:

Only $7 billion of $27 billion worth goods exported from Iran this Iranian year (started on March 21, 2018) has been returned to Iran, ILNA cited Mohammad Reza Movadvadi, head of the Iran Trade Promotion Organization, as saying.

He said that the US sanctions against Iran are aimed at reducing Iran’s foreign currency income.

Movadvadi said that if there is no currency, the country's economy will face a problem.

He said that there are 5 methods to return the foreign currency obtained as a result of export.

The government, parliament, judicial system and the Central Bank control the currency management, Movadvadi added.

The ministries follow the policy of the Central Bank and do not play any role in prohibition of the export of some products, he said.

Movadvadi said that Iran has big problems due to the absence of statistics on domestic needs.

Sanctions have negative consequences for the country, he said.

Movadvadi added that Iran’s market ranks 19th in the world and 4th in technology and nanotechnology.