Iran’s import, export value continue to fall

Business Materials 24 June 2015 16:04 (UTC +04:00)

Baku, Azerbaijan, June 24

By Umid Niayesh - Trend:

The Islamic Republic's trade turnover stood at $21.214 billion during the first quarter of the current Iranian fiscal year (March 21-June 21), Iranian Customs Administration reported June 24.

Iran's non-oil exports (including condensates) stood at $10.867 billion during the period, 9.96 percent less compared the three-month period of last year (Iran 's fiscal year starts on March 21).

The Islamic Republic also imported about $10.347 billion worth of goods during the period, which indicates a fall by 15.48 percent in value year on year.

The volume of imported goods stood at 8.845 million metric tons, meanwhile exports amounted for 25.1 million metric tons in terms of volume during the period.

Iran's gas condensates' export has fallen by 32 percent in the period, meanwhile the export of the petrochemical products has increased by 12 percent year on year.

Liquefied propane worth $383 million (4.65 percent of total exports' value) and tar worth $363 million (4.4 percent of total value) took place at the list of Iran 's top exported goods, according to the report.

China ($1.928 billion worth of imported goods), Iraq ($1.509 billion, 2.5 percent more year on year), the UAE ($1.307 billion, 43 percent more year on year), India ($729 million or 46 percent more ear on year) and Afghanistan ($611 million worth of goods) were the top importers of Iranian goods during the mentioned period.

Meanwhile the UAE ($2.395 billion worth of exports, 25 percent less y/y), China ($2.606 billion worth of exports, six percent yearly decrease), South Korea ($929 million), Turkey ($782 million) and India ($636 million) were the leading exporters of goods to Iran.

Corn fodder (worth $356 million), rice (worth $243 million), wheat ($214 million), soybean meal ($209 million) and mechanical equipment ($209 million) were the main imported goods during the three-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 turnover including condensates stood at $102.22 billion during the period.

Edited by CN

Follow the author on Twitter: @UmidNiayesh