Tehran, Iran, March 18
By Kamyar Eghbalnejad – Trend:
Iran Furniture Manufacturers and Exporters Association says that the industry over the current fiscal year (starting March 21) experienced a downward market trend due to ongoing economic shortcomings in the country.
Hassan Ahmadian, the head of Iran Furniture Manufacturers and Exporters Association, has told Trend that the volume of exports and imports of furniture over the current year has significantly dropped.
According to Ahmadian, Iran’s annual exports of furniture over the past years hit $40 million but the figure has been halved over the current year.
The current level of imports of furniture into the country stands at $250 million, he added.
He described shortcomings within the country’s banking system, currency fluctuation and high-interest rates on deposits and economic recession as the main obstacles to the industry.
Iran’s overall exports and imports of non-oil sector witnessed increase during the first 11 months of the current fiscal year, started March 2017.
The Islamic Republic exported $41.6 billion worth of non-oil goods in the first 11 months of the current fiscal year (March 20, 2017-Feb. 20). The country imported $47.6 million worth of goods in the same span of time.