BAKU, Azerbaijan, December 27. Iran imported a total of 19,246 kg of gold bars, worth approximately $1.23 billion, in the first nine months of the current Iranian year (March 21 through December 21, 2023), Trend reports.
Gold bars constituted 2.54 percent of Iran’s total imports during this period, ranking fourth in the list, as indicated in data from the Islamic Republic of Iran Customs Administration (IRICA).
Of the total volume, 67 percent was imported via the customs of Imam Khomeini Airport, 21.2 percent via Bashmaq customs, and 8.75 percent via Tabriz customs.
Overall, Iran imported 28.7 million tons of goods worth $48.3 billion in the first nine months of the current Iranian year (March 21 through December 21, 2023). This is an increase of 12.3 percent in value and 7 percent in volume compared to the same period last year.
Iran’s main import partners in this period were the UAE, China, Türkiye, Germany, and India. The main imported items were corn feed, mobile phones, and soybean seeds.
The sanctions imposed by the US against Iran have made it extremely difficult to bring foreign currency (US dollars) to the country. Iran prefers to use alternative ways to avoid sanctions. In this regard, the Iranian government has created conditions for the exporters of non-oil products to import gold bars into the country instead of foreign currency.
On May 8, 2018, the US announced its withdrawal from the Joint Comprehensive Plan of Action (JCPOA) between Iran and the 5+1 group (Russia, China, the UK, France, the US, and Germany) and imposed new sanctions against Iran as of November 2018.
Over the past period, the sanctions have affected Iranian oil exports and more than 700 banks, companies, and individuals. The sanctions have resulted in the freezing of Iranian assets abroad.
---
Follow the author on X (Twitter):@BaghishovElnur