Customs Revenues Double in 3 Years

Customs Revenues Double in  3 YearsCustoms Revenues Double in  3 Years

Three years into President Hassan Rouhani’s tenure, Iran’s customs revenues almost doubled to reach from $2.13 billion in the Iranian year ending March 2013 to $3.93 billion in the year to March 2016, according to the Islamic Republic of Iran Customs Administration. Also during the period, confiscations of contraband items have experienced a tenfold increase, IRNA reported. Earlier, Mehr News Agency reported that IRICA earned 46.7 trillion rials (about $1.32 at market exchange rates) in the first four months of the current Iranian year (started March 20), 10% up compared with last year’s corresponding period. The increase in customs revenues followed a decline in imports during the period. IRICA data on Iran’s foreign non-oil trade during the period show that $12.86 billion worth of goods were imported to register a 7.12% drop year-on-year. Exports stood at $16.3 billion, indicating a 21.11% rise. The customs administration’s main source of income is from duties levied on imports and sometimes on exports, with the dual aim of raising state revenues and protecting domestic industries from more efficient or predatory competitors from abroad.