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Rouhani: Iran's exporters help to keep country's economy afloat, competitive

Business Materials 9 July 2020 15:07
Rouhani: Iran's exporters help to keep country's economy afloat, competitive

BAKU, Azerbaijan, July 9

By Elnur Baghishov – Trend:

Iranian exporters are the key to keeping the country's economy afloat and competitive, Iranian President Hassan Rouhani said, Trend reports citing Iranian President Office’s official website.

He made the remark via videoconference at an event dedicated to the commissioning of six industrial enterprises in Sistan and Baluchestan, Fars and Isfahan provinces.

According to Rouhani, Iranian exporters return foreign currency to the country's economy.

He added that however, there are exporters who were active in the area of exports last year (from March 21, 2019 to March 20, 2020) and have not yet returned any foreign currency back to Iran.

The president emphasized that about 20 billion euros had not been returned to the country's economy.

"Iran plans to export $41 billion worth of non-oil products in the current Iranian year (began March 20, 2020). This figure is higher than the products’ that Iran will import," he said.

Rouhani noted that if the plan is implemented, Iran's foreign exchange problem will be resolved, prices will be normalized and the necessary products will be imported into the country in time.

The president stressed that the production of the steel sector in Iran include iron ore and steel products has doubled on average over the past seven years (the current government came to power in Iran in 2013).

"The increase was recorded at 7 percent in the production of petrochemical sector, 8.5 percent in the manufacturing of passenger cars, 23 percent in the manufacturing of pickups, 31 percent in the manufacturing of various car tires, 32 percent in production of aluminum ingots, 10.5 percent in the cement production and 5.5 percent in the raw steel production during 3 months of the current Iranian year (March 20-June 20, 2020),” he said.

Iran's two giant automakers (Iran Khodro and Saipa) manufactured more than 176,000 cars in three months.

About 3.59 billion euros were sold to banks at the NIMA exchange rate (the exchange rate created for exporters to sell a portion of their export earnings to banks) from the beginning of the current Iranian year March 20 to July 5.

About 16.1 billion euros were sold at the NIMA exchange rate in the last Iranian year (from March 21, 2019 to March 20, 2020).

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