Iran’s non-oil export target realized by 77%

Business Materials 10 October 2017 17:41 (UTC +04:00)

Baku, Azerbaijan, Oct. 10

By Fatih Karimov – Trend:

Iran exported $20.544 billion worth of non-oil goods (including gas condensates) during the first half of the current fiscal year (March 20-Sept. 22), which is equal to 77 percent of targeted figure for the period ($26.5 billion).

Iran’s non-oil exports registered a fall by 3.2 percent in terms of value, year-on-year.

Iran’s annual target of $53 billion worth of non-oil exports has materialized by 39 percent during the first half of the current fiscal year, according to a report from the Islamic Republic’s Trade Promotion Organization (TPOI).

The Islamic Republic increased its export target by $3 billion for this year from $50 billion in the last fiscal year (ended March 20, 2017), despite the fact that the country’s non-oil exports materialized by 88 percent and stood at $43.93 in the one-year period.

Raw materials share the dominant part of Iran’s non-oil export basket. Gas condensates, propane, butane and some other raw petroleum products - which Iran puts in the non-oil exports basket - made the country’s top exported goods during the 6-month period.

During the period, the country had exported $3.521 billion worth of condensate (5.2 percent less, year on year).

Film grade polyethylene (worth $750 million, 65 percent increase), liquefied propane (worth $686 million, 5 percent increase), gasoline excluded light oils and products (worth $638 million, 11 percent fall), methanol (worth $593 million, 20 percent increase), iron ore(worth $486 million, 52 percent increase), semi-completed iron and steel products (worth $458 million, 677 percent increase) and liquefied butane ($431 million, 4 percent increase) where other top exported goods in the 6-month period (March 20-Sept. 22).

Iran’s trade balance during the 6-month period witnessed a fall by 496 percent and became negative (-$3.055 billion), after experiencing a positive balance previous year.