Baku, Azerbaijan, Nov.22
By Fatih Karimov - Trend: The value of Iran's exports dropped by 19.3 percent in summer 2014 compared to summer 2013, according to the World Bank.
Imports, however, rose by 0.3 percent year on year, Iran's Tasnim news agency reported on November 22.
This is while the country's exports had increased by 6.8 percent in the second quarter of 2014, compared to the same period of 2013.
Iran's revenue from crude sales, the OPEC member's biggest export, dropped 30 percent because of the recent decline in global oil prices, according to Iranian President Hassan Rouhani.
"International conditions are such that the country's main source of income, i.e. oil revenues, has been cut by some 30 percent," Rouhani said. "We have to deal with the new conditions and the global economic conditions."
Mohsen Qamsari, director for international affairs of National Iranian Oil Company (NIOC), said recently that OPEC is unlikely to decide to reduce its production ceiling during its upcoming meeting in November.
He also said that an emergency meeting of OPEC is unnecessary now. "Holding a meeting now is ineffective," he added.
Masoud Hassani, managing director of South Pars Gas Refineries Company, said gas condensate production rose by 12 percent in the first half of the current year, compared to the same period in the previous year.
Iran's Customs Administration released a common report on Oct.28, saying that Iran's total non-oil exports reached $26.943 billion. The monthly "detailed report" hasn't been published on custom's official website yet, but the "detailed report" obtained and published on Iran's Donya-e-Eqtesad daily news on Oct.29 indicates that Iran's gas condensate export reached 10.849 million metric tons during seven months of Iran's fiscal year.
Iran includes gas condensate in non-oil exports basket.
Iran exported some 9.223 million metric tons of gas condensate, according to the latest monthly report published by the Customs Administration about the country's non-oil exports in first half on current fiscal year.