Intermediate goods share 63% of Iran’s imports

Business Materials 2 May 2017 17:31 (UTC +04:00)

Baku, Azerbaijan, May 2

By Fatih Karimov – Trend:

Intermediate goods shared 63 percent of Iran’s imported goods in terms of value in the fiscal year to March 20, 2017, the Islamic Republic’s Trade Promotion Organization (TPO) reported.

Intermediate goods are products utilized to produce a final or finished product. These goods are sold between industries for resale or for the production of other goods.

Iran imported 25.994 million tons of intermediate goods, worth $25.955 billion in the last fiscal year. The volume of the goods was equal to 86 percent of Iran’s total imports’ volume.

The Islamic Republic also imported 774,000 tons of capital goods, worth $8.07 billion in the 12-month period. Capital goods shared 19.6 percent of Iran’s total imports in terms of value and 2.6 percent in terms of volume respectively.

Capital goods are used in producing other goods, rather than being bought by consumers.

According to the report, about 15 percent of Iran’s imported goods in the one-year period were consumer goods.

Iran’s consumer goods imports amounted to 2.213 million tons in the period. The value of the goods stood at $6.263 billion as well.

Iran imported $43.684 billion worth of goods during the last fiscal year, which indicates a 5.2 percent increase, compared to the previous year.