Iran's two-month foreign trade

2018-06-02 21:01:07 | Posted By Shahram Jenab

Iran's two-month foreign trade statistics

Iran's two-month foreign trade tops $14b

Iran's foreign trade reached $14.53 billion in the two months from March 21 to May 21.

According to the Islamic Republic of Iran Customs Administration, exports stood at $7.74 billion, registering a 21.9-percent growth compared to the figure for the same two months in 2017 which was $6.4 billion, IRNA reported.

Iran's main export items were gas condensates ($1.29 billion), liquefied propane ($335 million) and light oil and its processed products ($274 million).

The top five export destinations for Iranian products were China ($1.45 billion), the UAE ($1.37 billion), Iraq ($1.16 billion), Afghanistan ($577 million) and India ($460 million).

During the two months, imports stood at $6.79 billion, which indicated a 0.49-percent increase against the figure for the same period last year.

The main imports during the two-month period included automobile parts ($333 million), corn for cattle feed ($296 million), soybean ($248 million) and rice ($184 million).

The top five countries exporting to Iran during March 21-May 21, 2018 were China ($1.73 billion), the UAE ($986 million), South Korea ($423 million), Germany ($357 million) and Turkey ($353 million).

The head of Trade Promotion Organization said in April that Iran's non-oil exports stood at around $47 billion in the year to March 20, 2018 while imports hovered around $54 billion, showing a $7-billion trade deficit for the country.

Noting that non-oil exports witnessed a 6.5-percent rise while industrial and mining exports registered a 26-percent rise last year, Mojtaba Khosrotaj added that imports of raw materials and intermediate goods accounted for 57 percent of total imports while capital goods and machinery constituted 15 percent of the total.