Intermediate goods make 63% of Iran’s imports

Baku, Azerbaijan, June 27

By Umid Niayesh - Trend:

The Islamic Republic has increased its non-oil export target to $54.9 billion for the current fiscal year, which falls on March 2018-2019.

The target for the preceding fiscal year (March 2017-2018) was $53 billion ($3 billion more compared to the previous fiscal year), which materialized by 88.5 percent or $46.93 billion.

The Islamic Republic was forced to gradually revise its non-oil export target after the international sanctions against Tehran intensified in 2012.

The target for the fiscal year falling to March, 2012-2013 (1391) was set at $51 billion (excluding gas condensates), which was materialized by 64 percent.

In the following year (2013-2014), when the target was revised to $41 billion, the country’s non-oil exports (excluding condensates) reached $31 billion, equal to 77 percent of the targeted plan.

The Iranian administration decreased the target to $40 billion (excluding condensates) and $35 billion (excluding condensates) in succeeding fiscal years ( 2014-2015 and 2015-2016), with a 90 percent and 102 percent realization rate.

After the international sanctions against Tehran were removed in 2016, the Iranian administration decided to improve the non-oil export target to $50 billion (including gas condensate) in the fiscal year to March 2017, meanwhile the target had materialized by 88 percent.

The latest official statistics indicate that Iran has exported $7.7 billion worth of non-oil goods (including gas condensates) during the first two months of the current fiscal year (March 20 – May 21), which is equal to 84 percent of targeted figure for the period.

Iran’s non-oil exports registered a rise by 22 percent in terms of value, year-on-year during the 2-month period, according to a report from the Islamic Republic’s Trade Promotion Organization (TPOI).

The volume of exports amounted to 18.77 million tons in the period, 5 percent more compared to the preceding year.

Iran’s non-oil trade balance during the 2-month period of the current fiscal year witnessed a rise by 326 percent and became 942 million, after experiencing a negative balance previous year.

Iran also imported $6.797 billion worth of goods in the 2-month period, 0.5 percent more year-on-year.

Over 63.5 percent of the imported commodities were intermediate goods, meanwhile consumer goods shared 15.3 percent of the imports in terms of value.

Capital goods shared 15.4 percent of Iran’s imports in the period.

Subscribe to Trend in Google News! Subscribe
Pfizer, Moderna boosters up to 90% effective against Omicron: CDC
Pfizer, Moderna boosters up to 90% effective against Omicron: CDC
US Dept of State plans to begin evacuation of US embassy staff from Kiev on Jan 24
US Dept of State plans to begin evacuation of US embassy staff from Kiev on Jan 24
Massive California wildfire triggers evacuations, closes highway
Massive California wildfire triggers evacuations, closes highway
Loading Bars
Iran discloses volume of electricity generated by Gilan Combined Cycle Power Plant
Weekly review of Azerbaijani precious metals market
Azerbaijan commissions new military facilities (PHOTO/VIDEO)
Tickets are available for two bus trips to Azerbaijan’s liberated Aghdam city
Tank and artillery shells found in Azerbaijan’s Samur-Absheron canal (PHOTO/VIDEO)
Bosphorus Strait temporarily closed in both directions
One person killed, two hurt in Budapest hospital fire -police
Intercity bus plunges into abyss in Turkey’s Istanbul city
An extra meal and snacks twice a day was all it took to improve falling nutrition levels in this tribal district
Almost all Kazakhstan remains in COVID-19 ‘red zone’
Nadal beats Mannarino in battle of left-handers to reach last eight
Azerbaijan holds training exercises in commando military unit (VIDEO)
Georgia reports 9,696 coronavirus cases, 5,408 recoveries, 28 deaths
Training session for reservists continues in Azerbaijan (VIDEO)
Iranian currency rates for January 23
Arab League delays annual summit as COVID-19 bites again
Turkey plans to hold next meeting within "3 + 3" format - Erdogan
New Zealand PM Jacinda Ardern cancels her wedding amid new Omicron restrictions
S.Korea says Iran to regain UN vote after delinquent dues paid with frozen funds
Electricity generation of Iran’s Bandar Abbas TPP surges
Uz-Kor Gas Chemical opens tender for purchase spare parts for analyzers and gas detectors
SCO to consider draft program proposed by Uzbekistan
Iran-Russia annual trade to increase to $10 b from $4 b
Kazakhstan confirms 14,012 new COVID-19 cases in 24 hr
French EU lawmaker Collard joins far-right presidential candidate Zemmour
Pfizer, Moderna boosters up to 90% effective against Omicron: CDC
Turkey’s Turkovac to be tested as booster for Pfizer-BioNTech jab
Guinea junta establishes council to lead transition to elections
Visit aims to rebuild trust with Lebanon: Kuwait foreign minister
UK records 76,807 new COVID cases, 297 deaths
EU Commissioner for Energy to visit Azerbaijan
Pfizer CEO sees annual COVID vaccine rather than frequent boosters
US Dept of State plans to begin evacuation of US embassy staff from Kiev on Jan 24
Blast hits western Afghan city of Herat, killing at least six
Georgia’s coal imports from Kazakhstan triple
Presidential administration of Georgia submits candidates for election commission to parliament
Remittances to Uzbekistan in 2021 totaled USD 8 bln
Iran seeks long-term, all-out ties with Turkey - Raeisi
Massive California wildfire triggers evacuations, closes highway
Italy's Berlusconi decides against running for president
Azerbaijan, Iran talk military cooperation
Azerbaijani chess player continues to lead in Tata Steel Masters tournament
Serviceman of Azerbaijan Army dies in non-combat conditions
Number of Turkish jobseekers in Uzbekistan revealed for 2021
UAE stops all private drone activities, light sports aircrafts
Airbus cancels $6bn contract with Qatar Airways
German conservatives elect right-winger Merz as new party leader
Non-hydro renewables overtake hydro for first time in Turkey
Record-breaking indicators in non-oil sector - what is secret to success of Azerbaijan's economic strategy?
Iran shares data on exports from Aras Free Trade Zone
Kazakhstan names damage caused to business as result of large-scale rallies
Georgia publishes COVID-19 data for January 22
Iran’s Bahar Azadi gold coin price dips
India now allows 6 people to register on one number for Covid vaccination
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,614 more COVID-19 cases, 610 recoveries
Azerbaijan changes rules for quarantine control of Covid-19
India's Karnataka approves design & launch of nano-satellite by govt school students at Rs 1.9 Cr
‘One Modi cannot change a country, need more icons like him’: Himanta Biswa Sarma
Seizing of illegally stored weapons from citizens continues in Kazakhstan - interior minister
Azerbaijani border serviceman commits suicide in military hospital
Iran unveils details of agricultural export
Kazakh Armed Forces performing tasks to ensure public order in regions with “red” level of terrorist threat
Tokyo hits record 10,000 COVID cases, Japan over 50,000 for first time
Number of COVID-19 infections in Russia surpasses 11 mln since pandemic began
Kazakhstan developing measures to reform Samruk-Kazyna Fund's activities
PMO records surge in load/unload operations at Iranian ports
S&P predicts gas production growth in Azerbaijan through 2025
Turkmen medical enterprise discloses production data
Azerbaijan to hold auction for Ferrum Kapital CJSC's bonds
Kazakh president talks need to continue work to reveal all circumstances of recent riots
Kazakh oil and gas company to purchase helium via tender
Iran reveals COVID-19 data for January 22
Oil price spikes likely in 2022 amid inventory tightness midyear
7 killed, 16 injured in massive fire in central Mumbai high-rise
Oil demand to be robust in coming years despite net-zero strategies
India reports 3,37,704 new Covid cases, 488 deaths in 24 hours
Number of COVID-19 infections in Russia surpasses 11 mln since pandemic began
OPEC+ focus to switch away from propping up prices
Iran shares data on buy/sell operations at its Mercantile Exchange
Most people feel I-T exemption limit could be raised from Rs 2.5 lakh: India's KPMG
Turkmenistan’s Balkandokma complex doubles cotton yarn sales
Uzbekistan reveals data on agricultural, forestry and fisheries production
Tax benefits to increase disposable income likely in India's Union Budget
Uzbekistan approves procedure for rational use of land resources
S&P discloses inflation forecast for Azerbaijan through 2025
S&P Global Ratings announces forecast for Azerbaijan's budget surplus
Magnitude 6.2 earthquake strikes Unalaska, Alaska
NIOC agrees with Russian companies to develop Iran's oil, gas fields
SOCAR dismisses information about purchasing bitumen plant in Armenia
Kazakh company eyes to import leather products from Uzbekistan
S&P comments on possible swap line between Central Banks of Azerbaijan and Turkey
Oil production in Azerbaijan to moderately rebound - S&P
Georgia discloses its main cement sources of import
Turkmenistan lays out plans for hydrogen energy development
US lawmakers seek litigation at WTO against India on wheat subsidy
Iran, Azerbaijan continue construction of Khudafarin and Giz Galasi hydro junctions (PHOTO)
Climate policy of Uzbekistan: Implementation of measures to prevent climate change and adaptation in most vulnerable sectors of economy
S&P Global Ratings approves Azerbaijan's credit rating at 'BB+/B'
UK Foreign Secretary to meet with Lavrov in Moscow in February
All news