Iran’s wheat imports surpasses $2.2B

Business Materials 2 March 2015 13:29 (UTC +04:00)

Baku, Azerbaijan, Mar. 2

By Umid Niayesh - Trend:

Iran imported $48.258 billion worth of goods during the first 11 months of current Iranian fiscal year (March 21, 2014-Feb. 20), which indicates a rise by 12.3 percent, compared to the same period of the preceding year.

Iran imported some 38.1 million metric tons of goods during that period which is 29.59 percent more compared to the first 11 months of last fiscal year, according to the Iranian Customs Administration latest monthly report released March 2.

Wheat worth $2.22 billion topped the list of Iran's imported goods with 4.6 percent share from the country's total imports' value. The Islamic Republic imported 6.72 million metric tons of wheat in the first 11 months of current fiscal year, indicating an increase by 98 percent in terms of volume year on year.

Iran's wheat imports also witnessed a 76.83 percent rise during the mentioned period compared to the preceding year in terms of value.

After wheat, motor vehicles with internal combustion engine worth $ 1.768 billion, corn fodder worth $ 1.596 billion, rice worth $1.293 billion and soybean meal worth $1.159 billion were other main imported goods of the Islamic Republic.

Tehran's rice imports have declined by 38.55 percent during the period, meanwhile the imports of motor vehicles registered a rise by 60.28 percent in terms of value compared with the 11-month period of last year.

Corn fodder imports also have increased by 22 percent year on year, meanwhile the imports of the soybean meal registered a fall by 29 percent in terms of value.

The five mentioned goods shared 16.65 percent of Iran's total imports in terms of value.

The average price for each one metric ton of Iran's imported goods in the mentioned period was $1268, which is 13.3 percent less than the previous year.

Iran's overall non-oil trade turn over stood at $94.564 billion during the first 11 months of the current fiscal year (March 21, 2014-Feb. 20).

The figure indicates a 16.87 percent rise in comparison with the $80.912 billion trade turn over during the same period of preceding year.

Edited by CN

Follow the author on Twitter: @UmidNiayesh