Iran posts $3bn trade deficit in 11 months to late January
The Iranian customs office (IRICA) has reported a trade deficit of just over US$3 billion for the country in the 11 months to February 19.
IRICA figures published on Saturday showed that Iran’s total trade with other countries had topped $90.094 billion in March-February, up 38% from the similar previous period.
The figures showed that Iranian trade had risen by 12% in volume terms over the same period to a total of 149.4 million metric tons (mt).
The figures exclude Iran’s direct oil exports although crude products account for a large part of overseas shipments.
IRICA’s deputy for technical affairs Foroud Asgari said that Iranian exports over the March-February period had reached $43.517 billion, an increase of 40% year on year.
Asgari said that export shipments had increased by 10% in volume terms in the 11 months to late February to 112.658 million mt.
The official did not elaborate on a breakdown of export figures but the huge volume could point to major increase in the Iranian overseas shipment of metals and mining products.
Asgari said imports into Iran had increased by 36% in value terms year on year in Marc-February to $46.577 billion.
He said shipments were up by 19% in volume terms over the same period at a total of 36.777 million mt.
The official said farming inputs, manufacturing machinery, medicine and medical equipment and basic goods had accounted for a bulk of Iranian imports in the 11 months to late February.
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