Iran’s non-oil export target materialized by 80%

Iran’s non-oil export target materialized by 80%

Baku, Azerbaijan, Jan. 26

By Fatih Karimov – Trend:

The latest official statistics indicate that Iran has exported $31.64 billion worth of non-oil goods (including gas condensates) during the first nine months of the current fiscal year (March 20-Dec. 21), which is equal to 79.6 percent of targeted figure for the period ($39.75 billion).

The Islamic Republic has increased its export target by $3 billion for the current fiscal year (March 20, 2017-2018) to $53 billion, despite the fact that the country’s non-oil exports stood at $43.93 billion in the one-year period to March 2017.

Iran’s non-oil exports registered a fall by 2.4 percent in terms of value, year-on-year during the 9-month period to Dec. 21, according to a report from the Islamic Republic’s Trade Promotion Organization (TPOI).

Iran’s annual target of $53 billion worth of non-oil exports has materialized by 60 percent during the first nine months of the current fiscal year.

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 9-month period.

During the period, the country had exported $5.098 billion worth of condensate (3 percent less, year on year).

Liquefied propane (worth $1.068 billion, 22 percent increase), methanol (worth $835 million, 25 percent more year-on-year), gasoline excluded light oils and products (worth $810 million, 50 percent fall), iron ore(worth $765 million, 50 percent increase), film grade polyethylene (worth $750 million, 5 percent increase), pistachio($677 million, 10 percent fall), liquefied butane ($652 million, 16 percent increase) and semi-completed iron and steel products (worth $614 million, 340 percent increase where other top exported goods in the 9-month period (March 20-Dec. 21).

As seen all of Iran’s top exports are raw materials or semi-processed oil and mineral products.

Iran’s trade balance during the 9-month period witnessed a fall by 1001 percent and became negative (-5.93 billion), after experiencing a positive balance previous year.

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