Addressing a conference in Tehran, Mr. Mohammad-Reza Modoudi said that the volume of imports in the first quarter of the year has been $10.2b and the figure shows the imports have decreased by 8.7 percent comparing to the same period last year.

IRAN NEWS ECONOMIC DESK

He went on to say that due to growth in exports, the trade balance has become positive in the first quarter and devaluation of the national currency against the dollar has boosted the exports.

He added that Iran has exported some $11.5 billion of commodities in the first quarter of the current Iranian year (started on March 21).

Modoudi, who was addressing the 2nd conference on exports, insurance and investment, said that the figure is like figures from the same period last year.

Noting that Iran’s imports during the three-month period stood at $10.2 billion which shows an 8.7% decrease compared to the preceding year, he concluded that Iran’s trade balance remained positive in the mentioned period.

He admitted all indexes have been affected by the sanctions, adding that but non-oil exports which were the main target of the sanctions have not been harmed and the performance of exporters was favorable.

Modoudi went on to say that only 130 items of exporting goods worth over $50m are exported. He said that these 130 items account for $37b of national exports and 81 percent of total exports belong to those 130 items of goods, adding that in Turkey, there are 1600 companies whose exports are over $10m but in Iran the number of companies whose exports are over $10m is 400 and it is unsatisfactory.

Modoudi reiterated that if exports of the country are not diversified and the number of exporting goods does not increase, it will be difficult to reach exports target of $120b which has been set.

On the smuggling goods, he said when statistics show that goods worth $15b are smuggled in annually, it means borders have potentials for illegal exports of goods.

He also called for reform in the national forex policy which is the major factor for smuggling and hike in prices.