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Iran exports products worth $8.4B in 2 months

Business Materials 10 June 2019 11:04 (UTC +04:00)

Baku, Azerbaijan, June 10

By Elnur Baghishov – Trend:

Iran exported about $8.4 billion worth of products during the first 2 months (March 21-May 21) of the current Iranian year (started March 21, 2019), said Mohammad Reza Modudi, head of Iran's Trade Promotion Organization (TPO), Trend reports referring to IRNA.

According to Modudi, this figure shows an increase of 8.9 percent compared to the figure from the same period last year ($7.7 billion).

He added that Iran's imports totaled at $6.7 billion over the past 2 months, which shows an 8-percent decrease compared to the same period last year.

"Exports decreased by 18 percent during the 1st month of this year (March 21-April 20), compared to the same period last year. Exports were considered to decline as a result of foreign currency policies. However, exports were due to flood and transport problems. This was made up for in the 2-nd month (April 21-May 21)," he said.

The head of TPO said that the export of technical and engineering services was $1.6 billion in 2 months, which shows a 17-percent increase over the same period last year.

According to Modudi, in the preceding year (March 21, 2017-March 20, 2018), Iran exported 3,400 types of products, and this figure reached 4,400 products in the previous year (March 21, 2018-March 20, 2019).

"In the preceding year (March 21, 2017-March 20, 2018), Iran exported about $47 billion worth of goods. This figure became $44 billion in the previous year (March 21, 2018-March 20, 2019), marked with a 6-percent decrease. Last year, 991 kinds of products were added to the Iranian export basket," he said.

Modudi went on to say that 9,200 people were engaged as exporters in the preceding year (March 21, 2017-March 20, 2018), and that this figure stood at 13,200 people in the previous year (March 21, 2018-March 20, 2019), indicating a 40-percent increase.

According to him, about $4 billion were returned to the national economy through the NIMA system via export of goods within 2 months.

NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export. The price of 1 euro in this system is 125,188 rials, and the price of $1 is 107,153 rials.

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