Iran’s exports up by 8.3% y/y in 4 months to late July
Iran’s non-oil exports rose by $1.35 billion in the four months to July 21 compared to the same period last year, according to the latest figures released by Iran’s House of Industry, Mine and Trade.
The figures published on Sunday showed that Iran had exported a total of $17.5 billion worth of goods, commodities and manufactured products from late March to late July, up 8.3% from the same period in 2023.
Exports from Iran saw a major increase in the calendar month to late June 20 when shipments were worth $5.496 billion, up 14% compared to the same month last year, showed the data, which cited official figures from Iran’s customs office (IRICA).
The figures showed that Iranian exports had risen 11.5% year on year in the month to late July to reach some $4 billion.
Iran has seen a steady rise in its non-oil exports in recent years thanks to increased government support for domestic manufacturing and agriculture sectors, a policy which has been aimed at diversifying away from oil revenues and making the economy more resilient against foreign sanctions.
China and Iraq have been the largest buyer of Iranian goods and products in recent years with petrochemicals generating the bulk of revenues derived from non-oil exports.
Quarterly trade figures released by IRICA earlier this month showed that Iran’s non-oil exports had increased by 7.6% in the quarter to late June compared to the same period last year.
Iran’s total trade in the June quarter, including its oil exports of more than $12 billion, reached nearly $40 billion, according to IRICA figures which indicated that the country had a trade deficit of $0.8 billion over the same period without considering the oil exports.
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