Iran targets $50B non-oil revenues

Business Materials 11 July 2016 18:20 (UTC +04:00)

Baku, Azerbaijan, July 11

By Emil Ilgar – Trend:

Iran plans to earn $50 billion non-oil revenues during the current fiscal year, Mojtaba Khosrotaj, deputy industry, mine and trade minister for business and economic affairs, announced.

He said it is expected that the country's revenues from gas condensate export will reach $7 billion in the current fiscal year that started on March 21, Shana reported.

Iran puts some petroleum products, such as gas condensate, propane and butane, in its non-oil exports basket.

During the three months of the current fiscal year, Iran's total non oil exports reached $10.5 billion, about 5.2 percent less than the same period in the last fiscal year, the latest Custom Administration report said.

Khosrotaj also said the revenues from Iran’s mineral product exports are expected to reach $600 million, while the figure for auto, industrial equipments and agriculture products will reach $500 million, $800 million and $5 billion, respectively.

Iran’s gas condensate export decreased 31.96 percent to 4.185 million tons during the three months of the current fiscal year.

Iran’s revenues from gas condensate exports reached $1.69 billion during the mentioned period, 35 percent less than in the first quarter of last fiscal year.

Iran exported $42.45 billion worth of non-oil products last fiscal year, 16.11 percent less than the previous year.