Iran’s foreign trade, excluding crude oil exports, stood at 19.84 million tons worth $10.63 billion during the current Iranian year’s sixth month (Aug. 23-Sept. 22) to register a 135% and 98% growth in weight and value respectively compared with the similar period of last year, according to the spokesman of the Islamic Republic of Iran Customs Administration.
“Iran’s exports stood at 14.52 million tons worth $4.14 billion over the one-month period, showing a 75% and 56% rise in volume and value respectively compared with the similar period of last year,” Rouhollah Latifi was also quoted as saying by Mehr News Agency.
Latifi added that imports during the month ending Sept. 22 stood at 5.32 million tons worth $6.49 billion, registering a 92% and 107% rise in weight and value respectively year-on-year.
Iran’s main export destinations were Turkey with 5.84 million tons worth $1.2 billion (up 1,420% and 696% in tonnage and value respectively YOY), Iraq with 1.83 million tons worth $677 million (up 30% and 19% in weight and value respectively YOY), China with 2.51 million tons worth $668 million (up 11% in volume but down 1% in value YOY), the UAE with 807,000 tons worth $331 million (down 33% and 12% in weight and value respectively YOY) and Afghanistan with 351,000 tons worth around $144 million (down 50% and 39% in tonnage and value respectively YOY).
The UAE with 1.48 million tons worth $1.91 billion (up 254% and 142% in weight and value respectively YOY) was the biggest exporter to Iran during the period.
It was followed by China with 418,000 tons worth $1.43 billion, Turkey with 540,000 tons worth $641 million, Switzerland with 371,000 tons worth $328 million and Germany with 44,000 tons worth $237 million.
The exports mainly included liquefied natural gas, methanol, polyethylene, semi-finished iron products, iron ingots, propane, urea, iron bars and cathodes.
The imports included corn, soybeans, sunflower oil, soymeal, wheat, barley, sugar, palm oil and unrefined vegetable oils.
Latifi said close to 1.13 million tons of goods were transited through Iran during the same period, indicating a 63% surge YOY. The figure registered the highest record over the past few months.
Mehdi Mirashrafi, the head of IRICA, told Iribnews.ir that in the month ending Sept. 22, IRICA stepped up clearance procedures from Iranian ports, such that over the five months ending Aug. 22, an average of 2.7 million tons of commodities worth $3.3 billion were imported per month, while the figure almost doubled to stand at 5.3 million tons worth $6.5 billion in the sixth month.
Six-Month Trade
Iran’s non-oil foreign trade stood at 79.1 million tons worth $45 billion during the first half of the current Iranian year (March 21-Sept. 22), registering a 47% growth in value compared with the similar period of last year, Mirashrafi had announced earlier.
Iran’s exports stood at 60 million tons worth $21.8 billion over the six-month period, showing a 30% and 61% rise in weight and value respectively year-on-year.
Iran’s main export destinations in the first half of the current fiscal year were China with 14.8 million tons worth $6.5 billion, Iraq with 13.9 million tons worth $3.8 billion, Turkey with 7.2 million tons worth $2.3 billion, the UAE with 5.8 million tons worth $2.2 billion and Afghanistan with 2.5 million tons worth $1 billion.
Imports during the six months under review amounted to 19.1 million tons worth $23.14 billion, registering a 15% and 37% rise in tonnage and volume respectively compared with the corresponding period of last year.
The UAE with 5.9 million tons worth $7.3 billion, China with 1.5 million tons worth $5 billion, Turkey with 2.1 million tons worth $2.4 billion and Switzerland with 1 million tons worth $900,000 topped the list of exporters to Iran during the period.
Mirashrafi noted that more than 5.85 million tons of goods were transited through Iran in H1 to register an 88% rise YOY.
A total of 4.2 million tons of goods were transited through land borders during the period, showing a 133% jump compared with the similar period of last year, according to the director general of International Transportation Bureau with the Road Maintenance and Transportation Organization of Iran.
“Out of the total sum, 2.64 million tons were non-oil and the remaining 1.56 million tons were oil products,” Javad Hedayati was quoted as saying by the news portal of the Ministry of Roads and Urban Development.
Over the period under review, the official added, 78% of the transit goods were shipped by Iranian road fleet.
Essential Goods
From the total imports, 14.3 million tons worth $8.8 billion were essential goods, which tonnage accounted for 75% of the total sum, the IRICA chief said.
Also known as necessity goods, essential goods are products consumers will buy, regardless of changes in income levels.
According to Mehrdad Jamal Arvanaqi, technical deputy of IRICA, around 12.4 million tons of the total imported essential goods were entitled to subsidized foreign currency at the rate of 42,000 rials per dollar, and the remaining 1.96 million tons were imported using Integrated Forex, locally known as Nima, ISNA reported.
Nima is a secondary market developed by the Central Bank of Iran as an avenue whereby companies sell their export earnings at rates lower than the open market. Currencies sold on Nima will help fund imports. The rate is much higher than 42,000 but still lower than the market rate that hovers around 275,000 rials per dollar these days.
Seven types of essential goods were imported using the 42,000 rials per dollar rate, namely unprocessed vegetable oils with 1.1 million tons worth $1.5 billion, corn with 4.3 million tons worth $1.4 billion, oilseeds with 1.5 million tons worth $1 billion, wheat with 2.1 million tons worth $698.5 million, soymeal with 1.2 million tons worth $684.1 million, barley with 1.9 million tons worth $575.8 million and 7,000 tons of pharmaceuticals and medical equipment worth $933 million.
Commodities imported using the integrated forex rate included rice with 714,700 tons worth $608.1 million, sugar with 764,100 tons worth $328.8, machinery parts with 20,600 tons worth $216.8 million, tires for heavy vehicles with 31,800 tons worth $116.1 million, fertilizers with 82,300 tons worth $55 million, pesticides with 5,500 tons worth $48 million and veterinarian medicines with 142,100 tons worth $20 million.
Imam Khomeini Port located in the southern province of Khuzestan Province is the main hub of essential goods imports in Iran.
A total of 8.4 million tons of essential goods entered Imam Khomeini Port via 150 ocean-going vessels during H1, indicating a 22% rise year-on-year, according to Mahmoud Hosseinzadeh, a local official.
“During the same period, about 8.3 million tons of these goods were dispatched to different destinations across the country while 2.9 million tons of essential goods are stored in the warehouses of Imam Khomeini Port, registering a 40% growth compared with the same period of last year,” he was quoted as saying by IRNA.
The port boasts 40 wharfs, 140 kilometers of railroads within its premises and the latest loading and unloading facilities.
Most of Iran’s demand for livestock feed’s raw material and grains are imported through this southern port.
“Imam Khomeini Port Special Economic Zone with its advanced equipment and an annual capacity of 50 million tons plays an important role in the supply chain and food security of the country,” Director General of Khuzestan Ports and Maritime Organization Adel Daris has been quoted as saying by ISNA.
