Coronavirus Expected to Cut Exports from Iran

Iran has to prepare for a 30% decline in its export value in the current Iranian year (March 2010-21) compared with last year, due to the impacts of the spread of coronavirus on domestic and foreign trade, a member of Iran Chamber of Commerce, Industries, Mines and Agriculture’s board of directors said.
“Under the current circumstances, it is estimated that the country’s exports will fall by $10-12 billion compared with last year and the main products that will experience a plunge due to the pandemic are petrochemical, steel and mineral products, tiles, ceramics and nuts,” Pedram Soltani was also quoted as saying by ISNA.
According to Mehdi Mirashrafi, the head of the Islamic Republic of Iran Customs Administration, Iran’s non-oil foreign trade stood at $85 billion in the fiscal 2019-20, of which exports accounted for $41.3 billion and imports for $43.7 billion.