Iran's quarterly foreign trade hits $21B

Business Materials 26 June 2015 17:55 (UTC +04:00)

Tehran, Iran, June 26

By Mehdi Sepahvand - Trend:

Iran's foreign trade in the first three months of the Iranian fiscal year (which started March 21) has amounted to $21.214 billion.

During the period, the country exported worth $10.867 billion and imported worth $10.347, the Islamic Republic of Iran Customs Administration (IRICA) reported June 24.

The weight of the imported goods was registered at 25.061 million metric tons while that of the imported goods was 8.845 million metric tons.

The trade balance was positive, whereas imports and exports grew smaller by 9.96 and 15.48 percent respectively compared to those of the same period last year.

The exported goods were mainly raw material. Nonetheless, while gas condensates export lowered by 32 percent, petrochemical products export grew by 12 percent compared to the preceding year.

Petroleum gases and liquefied gas hydrocarbons worth $576 million and a value share of 7 percent, liquefied propane worth $383 million and a value share of 4.65 percent, and bitumen worth $363 million and a value share of 4.4 percent were the main exported goods.

China, in the meantime, was the biggest importer of Iranian goods. The country bought 5.626 million metric tons of Iranian goods worth $1.928 billion. After China stood Iraq, whose imports from Iran grew by 2.5 percent to hit $1.509 billion.

The biggest export growth happened in relation to the UAE and India. The UAE imported worth $1.317 billion goods from Iran with a 43 percent growth compared to the same period last year. The country ranked third among importers of Iranian goods.

India came fourth. It imported worth $729 million which shows 46 percent growth.

Afghanistan was the fifth biggest importer from Iran with $611 million.

The most important imported goods by Iran were: livestock corn worth $356 million, rice worth $243 million, wheat worth $214 million, and soybean press cake worth $209 million. The share of these goods of Iran's imported goods in the period was 9.88 percent.

The report further shows that automobile has no more any place among the top five imports.

Furthermore, China was the biggest exporter of goods to Iran with worth $2.606 billion export. But the number shows a decline of 6 percent since last year. The UAE came second with $2.395 billion, also on decline by 25 percent.

After them came South Korea, Turkey, and India with 929, 782, and 636 million dollars respectively.

Edited by CN