Domestic Economy

Elevator Industry’s Import Needs Halved

Elevator Industry’s Import Needs Halved
Elevator Industry’s Import Needs Halved

Iran currently imports close to $100 million worth of raw materials, spare parts and equipment to manufacture elevators per year, which is half the amount imported in the fiscal 2018-19, according to the head of the National Elevators, Escalators and Related Services Union.
“At present, we have succeeded in manufacturing 75% of the industry’s required spare parts domestically. This has come about under heavy economic sanctions,” Abbas Abrishami was also quoted as saying by IRNA.
The official expects the elevator industry’s exports to reach $200 million by the fiscal 2025-26, noting that this requires the Institute of Standards and Industrial Research of Iran to introduce Iranian standards in the field to exporters, or allow foreign standards offices to be established in Iran. 
According to the official, Iran’s elevator production capacity is 80,000 per annum, although recession in the construction sector has led to a decline in production.
A total of 750,000 elevators are operating in Iran and about 250 million Iranians are using elevators every day.

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