Iran experiences positive trade balance for second month

Business Materials 25 May 2015 17:38 (UTC +04:00)

Baku, Azerbaijan, May 25

By Umid Niayesh - Trend:

Iran experienced positive non-oil trade balance for the second month as the figure stood at $1.517 billion for the first two months of current Iranian fiscal year (March 21-May 22).

Iran's non-oil exports (including condensates) stood at $7.861 billion during the period, 2.66 percent less compared the two-month period of last year (Iran's fiscal year starts on March 21).

The Islamic Republic also imported about $6.344 billion worth of goods during the period, which indicates a fall by 13.82 percent in value year on year, Iranian Customs Administration reported May 25.

While commenting on the significant fall of the country's import and export values, Masoud Karbasian, director of the Islamic Republic Customs Administration said May 19 that it is mainly due to decrease of oil products' price.

For instance condensates price decrease is the main factor behind the fall of the country's exports in terms of value, he explained.

Liquefied propane, tar and polyethylene were the main items exported during the first two months of the current Iranian fiscal year.

China, Iraq, the UAE, India and Afghanistan were the top importers of Iranian goods during the mentioned period.

Meanwhile the UAE, China, South Korea, Turkey and India were the leading exporters of goods to Iran.

Corn fodder (with share of 3.44 percent from total imports' value), rice (2.42 percent of total imports' value), soybean meal (2.24 percent), machines and mechanical equipments (2.12 percent) and wheat (1.77 percent) were the main imported goods during the two-month period.

The Islamic Republic's non-oil exports (excluding condensates) stood at $35.74 billion during last fiscal year, while imports accounted for $52.477 billion.

Iran's overall non-oil trade turn over including condensates stood at $102.22 billion during the period.

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