Iran’s non-oil exports down for first time in 2 decades
Tehran, Iran, March 18
By Mehdi Sepahvand - Trend:
The latest report of Iran's Trade Development Organization revealed a positive trade balance, but did not mention that the country's non-oil exports dropped by 17 percent.
The report said Iran's non-oil trade balance remained positive for eleventh straight month as the figure stood at $1.68 billion from the beginning of the current Iranian fiscal year.
Iran's non-oil exports (including condensates) surpassed $38.758 billion during the first eleven months of the current fiscal year, indicating a fall by 16.69 percent compared to the same period of the preceding year.
The exported goods were mainly raw material, as Petroleum gases and gas hydrocarbons, liquefied propane and bitumen topped the list of country's exports.
The Islamic Republic also imported $37.08 billion worth of goods during the period, 23.33 percent less in comparison with the same months of preceding year, the report further said.
The most important imported goods by Iran were: livestock corn with 3.4 percent share of overall imports, wheat (two percent share), soybean meal (1.85 percent), rice (1.68 percent) and car parts (1.63 percent).
During the first 11 months of the current Iranian fiscal year (since March 21, 2015) mentioned in the report, Iran's non-oil exports experienced their first fall in two decades, according to Mohammad Lahuti, president of Iran Exports Confederation, Mehr news agency reported March 17.
On the other hand, he noted, there has been a 24-percent decline in imports, which does not indicate a positive point about the country's economy.
According to statistics, 80 to 85 percent of Iran's imported goods are producer (semi-finished) goods.
During the said period, the exports from the mining sector dropped by 43 percent, while agriculture, industry, carpet, and handicraft also experienced lower exports, the official said.