Iran’s Non-Oil Exports Tenfolded in Past 17 Years
IRAN NEWS ECONOMIC DESK
TEHRAN – The CEO of Export Guarantee Fund of Iran (EGFI) Afrooz Bahrami says Iran’s non-oil exports in the past 17 years have been ten-folded and hit $42b.
Speaking to Fars news agency, Ms. Bahrami said that Iran’s non-oil exports have increased in recent years as the exports have been ten-folded in the past 17 years by reaching $42b.
On the current condition of exports in the world, she said the trade war between the U.S. and China had a destructive effect on the international trade last year, adding that the outbreak of the Coronavirus has deepened the worst recession of recent years in the global economy.
She noted according to the WTO prediction, the world trade will shrink by 32 percent in 2020 and some statistics show that the condition in some countries like India and Turkey regarding their exports is worse than predictions.
On Iran’s exports, she said due to the closure of borders, the country has unintentionally witnessed decline in its non-oil exports in the first two months of current year, adding that the 71 percent increase in weight and 60 percent increase in value of exports in the second month are some signs of revival in exports which have been seen and by reopening of the borders, the condition would improve.
Bahrami noted that in the past 17 years, the country’s non-oil exports have grown 16 percent on average per annum and the figure has jumped from $4b in 2003 to $42b till the end of last year.
She admitted that Iran has lost some part of its target market in some countries and studies show that few countries have higher shares of Iran’s exports. She deplored that the number of some countries which accounted for 80 percent of Iran’s exports has declined from 23 countries in 2001 to 9 countries in 2017.
Bahrami noted that in 2018, out of 147 countries, only China, the UAE and Iraq accounted for Iran’s 54 percent of its export revenues. She noted that of course the fund and industry ministry are working on diversification of exports and creating value-added in exports.
On Surge in Production slogan of the year, she said surge in national production will be only possible through exports, and all monetary, financial, forex and trade policies of the country should be at the service of developing exports and surge in production.
She also pointed to the mission of the fund in line with materializing the slogan of the year, adding that in current condition, trade and political risks can create headaches for exporters and in case one of those risks happens, the country’s exports may come to a halt.
She noted that one of the problems and risks, threatening the exporters, is to return money resulted from exports and the fund actually covers that risk.
