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Iran’s non-oil trade plunges

Business Materials 29 August 2015 17:22 (UTC +04:00)

Baku, Azerbaijan, Aug. 29

By Umid Niayesh - Trend:

Iran's non-oil trade in the first five months of the current Iranian fiscal year (March 21-Aug. 22) has amounted to $33.84 billion.

During the period, the country exported $16.93 billion worth of non-oil goods and imported worth $16.91, Iranian Customs Administration reported Aug. 29.

The trade balance was positive, whereas imports and exports decreased by 19.4 and 15.8 percent respectively compared to those of the same period last year.

The volume of imported goods stood at 13.86 million metric tons, meanwhile exports amounted for 38.8 million metric tons in terms of volume during the 5-month period.

The exported goods were mainly raw material.

Iran exported gas condensates worth $3.56 billion in the period, followed by $5.73 billion worth of petrochemicals. Nonetheless, while condensates export lowered by 40 percent, petrochemical export decreased by two percent in terms of value year on year.

Petroleum gases and liquefied gas hydrocarbons worth $759 million, liquefied propane worth $636 million and bitumen worth $561 million were the other main exported goods.

The most important imported goods by Iran were: livestock corn, rice, soybean meal, wheat and car parts.

Iran's livestock corn's import decreased by 16 percent, meanwhile rice and soybean meal witnessed fall by 50 and 31 percent respectively year on year.

The average price for each one metric ton of Iran's imported goods in the mentioned period was $1220, meanwhile each metric ton of Iran's exported goods sold at $436 averagely.

Follow the author on Twitter: @UmidNiayesh

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