Intermediate goods stand at top of Iran’s imports list

Business Materials 24 February 2018 16:39 (UTC +04:00)

Baku, Azerbaijan, Feb. 24‎

By Gazenfer Hamidov – Trend:

Intermediate goods shared 59.8 percent of Iran’s imported goods in terms of value in the first 10 months of the current fiscal year, started March 20, 2017.

Iran imported 23.585 million tons of intermediate goods, worth $25.616 billion in the first 10 months of the current fiscal year, based on latest data released by Trade Promotion Organization of Iran.

The volume of the goods was equal to 77.4 percent of Iran’s total imports’ volume.

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.

Import of Iran’s consumer goods registered a huge rise by 66 percent during the first 10 months of the current fiscal 2017, and stood at $7.96 billion.

The volume of the imported consumer goods ‎amounted to 2.727 million tons in the 10-month period compared 1.668 million tons in the same period of the preceding year.

About 18.6 percent of Iran’s imported goods in the period were consumer goods, meanwhile capital goods shared 15.5 percent of the imports in terms of value.

The value of imported capital goods reached $6.637 billion, 1.8 percent more compared to the 10-month period of the preceding year.

The Islamic Republic imported 693,000 tons of capital goods, equal to 2.3 percent of the country’s total imports in terms of volume.

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

Iran imported 30.49 million tons of goods, worth $42.805 billion during the first 10 months of current fiscal year (March 20-Jan. 21), which indicates 10.4 percent and 22 percent rise in terms of volume and value respectively compared to the same period of preceding year.

Car parts worth $3.15 billion (109 percent increase, 7.4 percent of total imports’ value), passenger cars worth $1.535 billion (5 percent increase), corn worth $1.248 billion (6 percent increase), modems and phones worth $997 million (32 percent increase), rice worth $993 billion (85 percent increase), medical drugs worth $937 million (11 percent increase) and soybean worth $759 million (2 percent fall) were the main imported goods of the Islamic Republic in the 10-month period.

The average price for each ton of Iran's imported goods in the mentioned period was around $1404, indicating a rise of 10.5 percent.