Iran’s non-oil exports up 6.5% y/y in H1 calendar year

Iran’s non-oil exports continued to rise in the first half of the current calendar year, according to figures by the country’s Trade Promotion Organization (TPO).

TPO’s head Mohammad Ali Dehghan said on Sunday that the value of exports from Iran had reached a total of $25.8 billion in the six months to September 21, up 6.5% from the same period last year.

Dehghan said the volume of export shipments had also increased by 3.4% year on year in April-September to reach 70 million metric tons.

He said China, Iraq, the United Arab Emirates, Turkey and Afghanistan were the top five buyers of Iranian goods and commodities in the six months to late September, adding that the five countries had accounted for 75% of all purchases over the period.

The official said imports into Iran were worth $32.5 billion in first half of the current calendar year that started in late March, up 2.8% from the same period in 2023.

The UAE, China, Turkey, Germany and India were the top five exporters to Iran over the period as they were responsible for 75% of the shipments supplied to the country, said the TPO chief.

The figures mean Iran had a trade deficit of $6.7 billion over the six months to late September which experts attribute to continued decline in the global prices of some commodities as well as a decrease in the Iranian natural gas exports.

Iran had posted a trade deficit of $16.9 billion in the calendar year to March.

Dehghan said Iran is not content with its current trade balance, saying the country is planning to ease some of its tariffs on exports to allow shipments to increase both in value and volume terms.

He said Iran still views joining the World Trade Organization as a necessity for its economy despite entering into preferential or free trade agreements with major trade blocs like the BRICS and the Russia-led Eurasian Economic Union.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk