Iran reports 8% y/y increase in non-oil exports in 4 months to late July
The dollar value of Iran’s non-oil exports rose by 8% to $17.5 billion in the four months to July 21 compared to the same period last year.
Head of Iran’s customs administration (IRICA) Mohammad Rezvanifar said on Tuesday that imports into Iran had reached a total of $18.5 billion in the four months to late July, down 6% from the same period in 2023.
Trade deficit dropped 40% year on year in the April-July period to reach $1 billion, said Rezvanifar.
Iran has been reporting a steady rise in its non-oil exports this year amid continued efforts to diversify the economy away from crude oil revenues.
However, petrochemicals still account for a bulk of revenues generated from Iran’s non-oil exports.
IRICA’s quarterly figures released last month showed that Iran had earned $6.2 billion from exports of 15.6 million metric tons of petchem products in the three months to late June.
China and Iraq were responsible for nearly a half of purchases of Iranian non-oil exports in the June quarter, according to the figures.
Basic goods continue to account for a large part of imports into Iran as the country relies on animal feed and grains shipments from abroad to respond to its growing food demand.
Iran’s booming exports come despite continued restrictions on its access to trade routes and banking services because of US sanctions.
That comes as the government has introduced major incentives for export-oriented activities in the Iranian agriculture and manufacturing sectors.
Iran’s agriculture minister said earlier this week that exports from the sector had reached more than $1 billion in the calendar year to late March.
Iran reports slight increase in mining sector exports in April-October
Immunity of Iran’s shipping industry to illegal sanctions
Iran parliament committee approves to lower car import tariffs
VIDEO | COP29: another climate failure?
ICC issues arrest warrants for Netanyahu, Gallant for war crimes
Israeli strikes kill 88 Palestinians in northern Gaza
American voters plainly rejected complicity in Gaza genocide: Iran FM spox
ICC should issue more arrest warrants for Israeli authorities over Gaza genocide: UN expert
Israel using AI weapons co-produced by India in Gaza genocide: Report
Israel issues new evacuation orders, shortly launches strikes on southern Lebanon
VIDEO | Press TV's news headlines
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
