Iran exports over 61 million tons of non-oil goods during 11 months

Iran Materials 13 March 2013 16:12 (UTC +04:00)

Azerbaijan, Baku, Mar.13/ Trend F.Milad

Iran exported some 61.627 million tons of non-oil goods (excluding gas condensates) worth some 29.272 billion dollars in the first 11 months of the current Iranian calendar year, which started March 20, 2012.

Iran also imported 35.873 million tons of goods worth 48.387 billion dollars in the mentioned time span, the IRNA News agency reported.

Iran had non-oil trade with 196 countries in the first 11 months of the current Iranian calendar year.

The country's balance of trade with 97 countries such the United Arab Emirates, South Korea, Switzerland, turkey, and China was negative in the mentioned period, the ISNA News Agency reported on March 6.

Tehran's balance was also positive with 99 countries, including Iraq, Afghanistan, India, Turkmenistan, and Pakistan.

The balance of trade, or net exports, is the difference between the monetary value of exports and imports of output in an economy over a certain period. It is the relationship between a nation's imports and exports.

A positive balance is known as a trade surplus if it consists of exporting more than is imported; a negative balance is referred to as a trade deficit or, informally, a trade gap.

It is while Deputy Director of the Trade Promotion Organization of Iran, Kioumars Fathollah Kermanshahi said on March 5 that the country exported 38 billion dollars worth of non-oil goods (excluding gas condensates) in the first eleven months of the current Iranian calendar year.

The figure will reach 41-42 billion dollars by the end of the current calendar year (March 20), the IRIB News Agency quoted Kemanshahi as saying.

Iranian Chamber of Commerce official Asadollah Asgaroladi said last month that the country's non-oil exports (including gas condensates) will surpass $50 billion by the end of the current Iranian calendar year (March 20).

Non-oil imports are valued at $60-65 billion, he said, adding that non-oil exports should approach the imports.

The Iranian minister of Industry, Mine and Trade said on February 24 that Iran's revenue from non-oil exports can account for 80 per cent of its imports, so the country doesn't need to rely on oil exports for importing needed goods.

Currently some 70 per cent of exporters' foreign exchange revenues is being used for imports, the IRNA News Agency quoted Mehdi Ghazanfari as saying.

It is while in previous year the figure used to stand at around 40-45 percent.