Iran’s non-oil foreign trade during the first 11 months of the current Iranian year (March 21, 2019, to Feb. 19) stood at $78.5 billion, the Islamic Republic of Iran Customs Administration's data showed.
By “non-oil”, IRICA refers to all commodities, except crude oil. Therefore, oil-driven products and byproducts, as well as petrochemical products, are still categorized as non-oil.
IRICA categorizes non-oil exports into three groups of petrochemicals, gas condensates and others.
Exports stood at 125 million tons worth $38.5 billion, indicating a 17.61% growth in weight but a 4.48% decline in value compared with the same period of last year.
Imports reached 32 million tons worth $40 billion, registering a 10.84% and 2.31% year-on-year increase in weight and value, respectively.
A $1.5 billion trade deficit was registered for the country during the period under review.
According to Ruohollah Latifi, IRICA’s spokesman, essential goods accounted for 65% of import.
These are products and services bought by consumers, regardless of changes in income levels. These include pharmaceuticals, rice, barley, corn, wheat, sugar, oilseeds and meat.
Minister of Economic Affairs and Finance Farhad Dejpasand was quoted as saying earlier that capital goods account for 85% of Iran's imports, adding that at present exporters are the main suppliers of foreign currency needed for imports.
China remains Iran's biggest trading partner, with exports to China at $8.87 billion, accounting for 23% of Iran’s total exports, and imports from China stood at $10.1 billion, accounting for 25.3% of Iran’s total imports
China, Iraq, Turkey, the UAE and Afghanistan were Iran’s main export destinations during the 11 months to Feb. 19.
Exports to China stood at $8.87 billion (accounting for 23% of Iran’s total exports), Iraq at $8.5 billion (22.04%), Turkey at $4.96 billion (12.85%), the UAE at $4.07 billion (10.56%) and Afghanistan at $2.14 billion (5.55%).
China, the UAE, Turkey, India and Germany were main importers to Iran during the period, such that imports from China stood at $10.1 billion (accounting for 25.3% of Iran’s total imports), while those from the UAE reached $7.94 billion (19.89%), Turkey $4.65 billion (11.66%), India $3.42 billion (8.58%) and Germany $1.91 billion (4.81%).
Hard-Hit by COVID-19
The recent outbreak of the new coronavirus in Iran has overshadowed Iran's trade with the world, especially with its neighbors as they've closed their borders in fear of the spread of the disease.
A total of 1.71 million tons of non-oil goods worth $1.91 billion were imported into Iran from Feb. 18, when the first case of the coronavirus disease known as COVID-19 was officially reported in Iran, to March 3, spokesperson of the Islamic Republic of Iran Customs Administration Rohollah Latifi said earlier this month.
“During the same two-week period of last year, about 1.26 million tons of goods worth $1.82 billion were imported into the country. On a year-on-year basis, the figure shows a 35.5% and 5.1% increase in weight and value, respectively,” he was also quoted as saying by IRNA.
Iran exported 4.11 million tons of non-oil goods worth $1.28 billion over the same period, registering a 20% decline in weight and a 30% decrease in value year-on-year, the official added.
The imports saw a 12.5% increase and exports registered a 34% decrease in weight during the two weeks following Feb. 18 compared with two weeks prior to the date, he concluded.
Latifi's comments came after director general of International Transit and Transport Office of Iran Road Maintenance and Transportation Organization, Manouchehr Salmanzadeh, said Iran’s foreign trade has declined 18% due to the spread of the new coronavirus and restrictions imposed on borders, Fars News Agency reported.
