Iran Foreign Trade Touches $24.6b in Five Months
IRAN NEWS ECONOMIC DESK
TEHRAN- Iran’s total foreign trade in the first five months of the current Iranian calendar year stood at $24.6b which shows a decline comparing to the same period last year because of the Coronavirus pandemic.
According to the Ministry of Industry, Mine and Trade’s statistics, the total foreign trade volume of the country in the first five months was $24.6 that value of exports was $10.9b and imports’ share was $13.7b.
The report indicates that the trade exchange with other countries was over 52m tons in terms of weight that exports’ share was 38m tons and almost 85 percent of the imported goods were basic goods and raw materials.
China, Iraq, the UAE, Afghanistan and Turkey have been the five top destinations for Iran’s exports and China has been Iran’s major trade partner in the first five months.
Meanwhile China, the UAE, Turkey, India and Germany have been the five top exporters to Iran in the same period.
Meanwhile Head of Iran’s Trade Promotion Organization (TPO) Hamid Zadboum said yesterday that most of the country’s current imports are limited to the raw materials or basic goods.
“Over 84 percent of the imported items include raw materials, basic goods or intermediaries that are necessary for the production and operation of domestic units,” TPO portal quoted Zadboum as saying.
Referring to the restriction of order registration for goods that have similar productions inside the country, the official said: “Last year, the imports of 1,600 items with an eight-digit HS code was banned. The number, however, has reached 2,400 items this [Iranian calendar] year (started on March 19).”
He further put the value of imports in the first four months of the current Iranian calendar year (March 20-July 21) at $11 billion saying: “We are trying to reduce the registration of orders for goods that are already produced inside the country by weekly monitoring of imported goods and gradually in the near future, we will completely ban the import of all such products in order to boost domestic production.”
According to the official, Iran’s imports during the first quarter of this Iranian calendar year (March 20-June 20) exceeded $7.6 billion, which compared to the $10.4 billion in the same period last year, experienced a decrease of 26.8 percent, and yet in terms of weight, the figure was 8.9 million tons, which is 0.8 percent less than the figure for the same period last year.
