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Iran’s non-oil trade improves, trade balance still negative

Business Materials 3 October 2017 17:51 (UTC +04:00)

Baku, Azerbaijan, Oct. 3

By Fatih Karimov– Trend:

Iran’s non-oil trade turnover increased by 6 percent to $44.139 billion during the first half of the current fiscal year (started March 20, 2017), meanwhile the country experienced a negative trade balance of $3 billion.

Iran's non-oil exports, including gas condensate, reached $20.544 billion during the six-month period.

The figure indicates a fall by 3.20 percent, compared to the same period of preceding year, Iran's Custom Administration reported Oct. 3.

Iran includes gas condensate and some raw hydrocarbon products, like propane, butane, etc. in its non-oil export basket.

The volume of the exported goods had reached 58.635 million tons in the six-month period.

During the period, the country exported $3.521 billion worth of condensate (5.16 percent less, YOY).

Iran exported $7 billion worth of petrochemicals, during the period, which is 1.3 percent more, compared to the same period of the preceding year.

Film grade polyethylene (worth $750 million), liquefied propane (worth $686 million), gasoline excluded light oils and products (worth $638 million) and methanol (worth $593 million) where other top exported goods in the six-month period (March 20-Sept. 22).

The average price for each ton of Iran's non-oil goods in the mentioned period was around $350, indicating a rise of 1.16 percent, YOY.

China was the main importer of the Iranian goods during the six-month period. Iran’s non-oil exports to China registered a rise by 7 percent and stood at $4.313 billion.

Iraq ($3.18 billion, increase of 5.47 percent), the United Arab Emirates ($2.953 billion, fall of 17.1 percent), South Korea ($2.064 billion, an increase of 12.86 percent ) and India ($1.337 billion, fall of 6.52 percent) were other top importers of Iranian non-oil goods during the first six months of current Iranian fiscal year.

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