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Iran shares data on its imports of essential goods under official exchange rate

Business Materials 5 March 2022 11:46 (UTC +04:00)
Iran shares data on its imports of essential goods under official exchange rate

BAKU, Azerbaijan, March 5

By Elnur Baghishov – Trend:

Iran imported 24 million tons of essential goods, including, wheat, corn, barley, oilseeds, compressed soybeans, medicines, medical equipment and supplies, and etc. worth $13.7 billion under the official exchange rate of the country ($1 USD - 42,000 rials), during the first 11 months of the current Iranian year (March 21, 2021 through February 19, 2022), the Spokesman for the Islamic Republic of Iran Customs Administration (IRICA) Rouhollah Latifi said, Trend reports citing the administration.

In Iran, the official exchange rate is used for the import of some essential products.

The mentioned figure is an increase of 77 percent in value and 30 percent in volume, compared to the same period last Iranian year, according to Latifi. The customs official added that about 6.04 million tons of wheat worth $2.08 billion were imported to the country in 11 months, which is an increase of 157 percent in value and 108 percent in volume, compared to the same period last Iranian year.

“In addition, 8.65 million tons of corn worth $2.99 billion were imported to Iran over the reporting period, which is an increase of 29 percent in value, while a decrease of 6 percent in volume, compared to the same period last Iranian year,” he said.

Latifi also said that Iran imported 2.93 million tons of barley worth about $874 million in 11 months, which is an increase of 107 percent in value and 72 percent in volume, compared to the same period last Iranian year.

“At the same time, Iran has imported 2.5 million tons of oilseeds worth $1.58 billion within the mentioned period. The country’s oilseeds imports increased by 47 percent in value and 10 percent in volume, compared to the same period last Iranian year,” he said.

The spokesman stressed that 1.87 million tons of various cooking oils worth $1.56 billion were imported to the country during eleven months, which is an increase of 185 percent in value and 81 percent in volume, compared to the same period last Iranian year.

Latifi also noted that 2.26 million tons of compressed soybeans worth $1.23 billion were imported to Iran for the reporting period, which is an increase of 78 percent in value and 40 percent in volume, compared to the same period last Iranian year.

“Moreover, Iran imported 19,900 tons of medicines, medical equipment and supplies worth $2.35 billion in 11 months. This is an increase of 58 percent in value and 46 percent in volume, compared to the same period last Iranian year,” he said.

In total (both via the official exchange rate and the NIMA system exchange rate), Iran imported 27.6 million tons of essential goods worth more than $17.5 billion in 11 months, which is an increase of 60 percent in value and 28 percent in volume, compared to the same period last Iranian.

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