Import Ban Saves $5.8 Billion

The ban on imports of 1,539 items and restrictions on the import of 722 products saved up to $5.8 billion for the country from March 20, 2020, to March 5, 2021. 
According to an IRNA report citing the Ministry of Industries, Mining and Trade, order registrations, the process of listing import items with the customs authorities, reduced by 15.6% during the period under review. Provision of foreign currency to imports of products related to the ministries of industries, agriculture and health fell by 17%. 
This is while the share of forex provision from resources gained from exports increased from 33.6% to 45% by Feb. 3. 
Over 11 months to Feb. 18, the share of capital goods in imports increased from 13% to 14% and that of intermediate goods rose from 67.2% to 70% while the share of consumer goods dropped from 17.2% to 16% year-on-year.