Baku, Azerbaijan, Feb. 13
By Fatih Karimov – Trend:
Iran plans to produce $31 billion worth of spare car parts by 2025, Reza Rezaei, head of the Iranian Auto Parts Manufacturers Association, said.
Based on the plan, $25 billion worth of the products will be supplied to domestic market, meanwhile $6 billion worth of car parts will be exported per year by 2025, Rezaei said, Fars news agency reported.
He further said that Iran exported $180 million worth of automotive parts in 2015.
Rezaei said that share of the automobile industry, the biggest non-oil sector of the Iranian economy, will reach 4 percent of gross domestic product (GDP) by 2025.
The country’s carmakers accounted for 2.2 percent of Iran’s economic growth over the last fiscal year (ended March 20, 2016) with a contribution of about $9.1 billion (294 trillion rials).
Rezaei also said that Iran’s car parts’ import currently stands at $5.2 billion per year.
The country’s total exports of cars and spare parts to the world stood at about $102 million during the first ten months of the current fiscal year (March 20, 2016-Jan-20).
This is while Iran imported $1.162 billion of cars and $666 million worth of car parts in the mentioned period of time.
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