Value of Iran’s mineral exports increase amid volume fall

Business Materials 18 March 2018 10:22 (UTC +04:00)

Baku, Azerbaijan, March 18

By Gazenfer Hamidov – Trend:

The latest official statistics indicate that export of Iran’s minerals and mineral industry products has increased in terms of value, amid fall in terms of volume during the current fiscal year, that started March 2017.

Exports of the products amounted to $8.396 billion during the first 11 months of the current fiscal year (March 20-Feb.20), Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said.

The figure is more by 6 percent compared to the first 11 months of the last fiscal year.

Meanwhile, the volume of minerals and mineral industry products’ export fell by 3 percent to 58.1 million tons in the 11-month period.

The export included cement, ceramic and tiles, steel and iron products, all types of stones, copper, coal and coke as well as chromium, mica, nickel, precious metals, and aluminum, Molybdenum, titanium, lead and zinc production chain products.

Iran exported 8.27 million tons of crude steel and its products, worth $3.128 billion in the 11-month period. The volume of the export products rose by 34 percent, meanwhile its value increased by 20 percent.

The country exported 12.9 million tons of cement, worth $482 million, 4 and 1 percent more respectively, year-on-year.

Export of aluminium chain products reached 175,598 tons, worth $316 million (up 33 percent in terms of volume and up 40 percent in terms of value).

Iran exported 383,733 tons of copper products, worth $431.3 million in the 11-month period, which was 50 and 35 percent less in terms of volume and value, respectively.

The Islamic Republic also imported $5.024 billion worth of mineral industry products in the period, 34 percent more year-on-year.

However, the volume of the imports increased by 75 percent to 10.043 million in the first 11 months of the current fiscal year.