Iran’s trade in September quarter at $30.6bn, up 9.4% y/y
Iran’s non-oil trade rose in the quarter to late September despite growing tensions in the West Asia region over that period.
Figures released by the House of Industry, Mine and Trade (HIMT) on Monday showed that Iran’s trade with other countries had reached a total of $30.6 billion in the three months to September 21, up 9.4% compared to the same period last year.
Exports from Iran reached $12.3 billion in the September quarter, up 6.2% year on year, while imports into the country rose by 11.6% over the same period to reach $18.3 billion, showed the figures.
The data showed that exports from Iran had peaked in August when shipments rose by 18% compared to the same month last year to reach $4.47 billion while imports also rose by 21.6% over the same month to reach $6.4 billion.
Exports dropped by 7.1% year on year in September to $3.9 billion while imports rose 12% to $6.3 billion over the same month, the data showed.
Iran’s trade deficit widened to $6 billion in the September quarter mainly because of a significant increase in imports of gold and cars, said the HIMT, adding that trade had increased by 10% from the June quarter.
Iran’s growing trade with the rest of the world over the summer months came as the country was grappling with a series of geopolitical tensions, including its regional confrontation with Israeli, over that period.
Many had expected a decline in Iran’s trade after the country fired a barrage of missiles on Israel in mid-April to respond to the regime’s attacks on its consulate in Syria earlier that month.
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