Iran's import of car parts grows amid car imports fall
Baku, Azerbaijan, Sept. 6
Iran’s car imports in the first five months of the current fiscal year (March 20-Aug. 22) registered a fall by 68.6 percent, compared to the same period of the preceding year.
Iran imported 6,057 passenger cars during the 5-month period, according to the country’s custom administration data.
The value of the imported cars amounted to $162.8 million in the period, which is 68.6 percent less year-on-year.
Iran imported passenger cars from various countries including South Korea, the UAE, Oman, UK, Germany, Turkey, Taiwan, Armenia, China, Russia, Georgia and France.
Iran’s average monthly car import stood at about 5,800 vehicles in the past fiscal year, ended March 2018.
Iran imported 70,075 passenger cars during the last fiscal year, 8.7 percent less compared to the preceding year.
The value of the imported cars amounted to $1.838 billion in the 12-month period, which is 8.4 percent less year-on-year.
According to the Customs Administration, Iran also imported over $1,268 million worth of car parts in the first five months of the current fiscal year.
The report says that Iran imported $881.8 million worth of car parts for manufacturing 30 percent or below domestically made vehicles, 103.6 percent more year-on-year.
The figure for vehicles, which are 30-50% domestically manufactured, amounted to $183.9 million, registering a 57 percent growth compared to the first five months of the preceding year.
Meanwhile the country’s import of auto parts for manufacturing over 50 percent domestic-made cars reached $203.6 million, 20.4 percent less year on-year.