Iran's Foreign Non-Oil Trade Surges 43% to Over $54b in 7 Months

Iran’s foreign non-oil trade reached 98.7 million tons worth $54.8 billion during the current fiscal year’s first seven months (March 21-Oct. 22) to register an increase of 16.5% in weight and 43% in value compared with the corresponding period of last year. 
According to Mehdi Mirashrafi, the head of the Islamic Republic of Iran Customs Administration, exports stood at 75.2 million tons worth $27.1 billion, which shows year-on-year growth rates of 15% and 47% in weight and value respectively. 
“Iran’s imports hit 23.5 million tons worth $27.7 billion, registering an increase of 21% in weight and 38% in value compared with last year’s same period. Essential goods, machinery, industrial parts, raw materials and intermediate goods accounted for the lion’s share of imports,” he was quoted as saying by the news portal of IRICA.
Also known as necessity goods, essential goods are products consumers will buy, regardless of changes in income levels.