Head of Iran’s Export Confederation, Mohammad Lahouti said on Saturday that the country’s foreign trade is expected to reach $100bn by March 20 when the current Iranian year ends, Trend reports citing IRNA.
Lahouti told reporters that Iran’s exports surpassed $43bn and imports were worth $46bn during the first eleven months of the current Iranian year that started on March 21, 2021. Taking those figures into account, he said, Iran’s foreign trade stood at $90bn during the mentioned period, which is expected to increase to $100bn in the remaining days of the Iranian year 1400.
Lahouti said, during 1400, intermediate goods made up 85% of
imports, which indicates that production has improved.
He said the government’s policy is to increase exports, but when
exports are reduced, limitations will be put on imports
accordingly. He added that at the current conditions, exports and
imports grew 40% and 36% respectively.
Lahouti said Iran has had most of its exports to China, Iraq, Turkey, the UAE and Afghanistan, and as long as imports are concerned, the UAE comes first and is followed by China, Turkey, Germany and Switzerland.
The official explained that Iran has numerous plans to increase trade with its neighboring countries, because exports to these nations are carried out in an easier way and currencies are exchanged easier.
Lahouti at the same time said export markets should be diversified and plans are needed to enter markets in non-neighboring states.