Iran’s foreign trade at $99.7bn in 7 months to late Oct
Figures by Iran’s customs office (IRICA) show the value of the country’s foreign trade reached nearly $100 billion in the seven months to late October.
IRICA’s initial trade figures for October disclosed by its CEO Mohammad Rezvanifar on Sunday showed that Iran’s trade with other countries, including its exports of crude oil and technical and engineering services, had reached a total of $99.7 billion in the seven calendar months to October 21.
Rezvanifar said that Iran’s exports in April-October had amounted to $60.2 billion, including $27 billion in crude oil and mazut exports and some $0.7 billion in technical and engineering services exports.
Imports into Iran reached a total of $39.5 billion over the seven months to late October, including $3.4 billion worth of standard gold bullion imports, he said.
Iran had a non-oil trade deficit of nearly $7 billion over the April-October period, showed IRICA figures which also indicated that the country’s non-oil exports had increased by 11.48% in volume terms compared to the same period last year to reach a total of 88.7 million metric tons.
Iran’s petrochemical exports, a main source of earning hard currency for the country, reached $15.2 billion in the seven months to late October, a year on year increase of 24%, the figures showed.
China was Iran’s largest trading partner and the largest buyer of Iranian exports in April-October, said Rezvanifar, adding that the East Asian country had been responsible for $8.6 billion worth of purchases of Iranian goods and commodities over the period.
He said Iran’s exports to Iraq had reached $7.3 billion over the seven months to late October while shipments delivered to buyers in the United Arab Emirates (UAE) and Turkey had topped $4.2 and $3.3 billion, respectively.
Iran’s imports from the UAE, the largest re-exporting hub in the Persian Gulf, was at $12 billion over the seven-month period, said the IRICA chief, adding that Turkey was the third largest exporter to Iran after the UAE and China with some $6.6 billion worth of shipment delivered to the country over the period.
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