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Iran’s non-oil trade faces $16.7B deficit

Business Materials 7 April 2015 14:12 (UTC +04:00)

Baku, Azerbaijan, Apr. 7

By Umid Niayesh - Trend:

Iran's non-oil goods trade balance (excluding gas condensates), faced a $16.74 billion deficit during the last Iranian fiscal year (ended on March 20).

Imports shared 59.49 percent of Iran's total non-oil trade during the period, meanwhile the figure stood at 61.17 percent during the preceding year, said the Islamic Republic Customs Administration in its annual report published April 7.

Iran's trade balance with 94 countries was positive, while with 85 countries it was negative.

Iran had the highest positive trade balance with Iraq ($6.123 billion), Afghanistan ($2.373 billion), Turkmenistan ($860 million), Pakistan ($683 million) and Egypt ($564 million).

Tehran registered the highest negative trade balance with the United Arab Emirates ($8.232 billion), South Korea ($3.88 billion), China ($3.041 billion), Switzerland ($2.332 billion), and Germany ($1.976 billion).

Iran's overall non-oil trade turn over stood at $102.22 billion during the last fiscal year. The figure indicates an 11.64 percent rise in comparison with the $91.56 billion trade turn over during the preceding year.

Follow the author on Twitter: @UmidNiayesh

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