Industrial products hold lion's share of Iran’s imports

Business Materials 1 February 2018 11:51 (UTC +04:00)

Baku, Azerbaijan, Feb. 1‎

By Fatih Karimov – Trend:

Industrial products remained as Iran’s top imports in terms of value during the current fiscal year.

The share of industrial products from Iran’s overall imports’ value in the first eight months of the current Iranian fiscal year (March 20-Nov. 21, 2017) amounted to 81.3 percent.

A report by Iran’s ministry of Industry, Mine and Trade indicate that the Islamic Republic has imported $26.364 billion worth of industrial products in the 8-month period.

The figure indicates a rise by 15.3 percent year-on-year.

Agricultural products rank second among Iranian imports, after industry sector products and accounted for $3.463 billion, registering a 6.6 percent increase compared to the first eight months of the preceding year (March 20-Nov. 21, 2016).

The country’s agricultural imports accounted to $488.2 million in the eighth Iranian calendar month (Oct. 22-Nov. 21), 22 percent less compared to the preceding month.

Meanwhile the country’s industrial products’ imports in the 1-month period stood at $3.273 billion, 3.8 percent less on a monthly basis.

Iran also imported $828.6 million worth of petrochemicals (21.4 percent increase), $129.5 million worth of mineral products (35.4 percent more year on year) and $4.3 million worth of handicrafts and carpets (319.3 percent more) in the 8-month period.

Industrial products also ranked first among the imports of Iran, in terms of volume. Iran imported 11.8 million tons of industrial products in the period, 3.7 percent more year-on-year.

The country’s agricultural imports stood at 8.613 million tons in the 8-month period(3 percent more year-on-year), followed by petrochemicals(488,500 tons, 10.3 percent more) and mineral sector products(481,100 tons, 6.9 percent less).

The Islamic Republic also imported 1,300 tons of handicrafts and carpets, indicating a significant rise by 185.1 percent compared to the 8-month period of the preceding year.

Iran’s overall imports in the first eight months of the current fiscal year amounted to $32.42 billion, 17.5 percent more year-on-year.