The Statistical Center of Iran has reviewed changes in prices of commodities exported from and imported to the country in the third quarter of the current fiscal year (Sept. 23-Dec. 21, 2021).
According to SCI, the Export Price Index, an indicator measuring the overall change in prices for goods and services sold abroad, (using the year ending March 2017 as the base year), stood at 2,903 in Q3 in terms of rial, registering a 31.1% increase compared with the quarter before and a 139.6% rise compared with the same quarter of the previous year.
The average EPI during the four quarters to Dec. 21 witnessed a 169.6% growth compared with the corresponding period of the year before.
The report added that the third quarter saw EPI stand at 144.6 in dollar terms, registering an increase of 1.5% over the preceding quarter and 14.6% year-on-year.
The average EPI in dollar terms during the four quarters to Dec. 21 witnessed a 12.2% rise compared with last year’s corresponding period.
SCI also reported the Import Price Index, an indicator measuring the overall changes in import prices.
IPI, using the year ending March 2017 as a base year, stood at 53,381 in Q3 in terms of rial, registering a 48.6% increase compared with the previous quarter and a 445.9% rise compared with the same quarter of the year before.
The average IPI during the four quarters to Dec. 21 witnessed a 473.3% growth compared with the preceding year’s corresponding period.
The three-month period saw IPI stand at 384 in dollar terms, registering a 12.1% quarter-on-quarter increase and a 54.9% year-on-year rise.
The average IPI in dollar terms during the four quarter period to Dec. 21 witnessed a 55.3% growth compared with the same period of the preceding year.
Iran’s foreign trade, excluding crude oil exports, stood at 43.32 million tons worth $27.16 billion in Q3, according to the spokesman of the Islamic Republic of Iran Customs Administration.
"Autumn trade registered a 9% decline in terms of weight and a 25% growth in terms of value year-on-year, 7% and 14% growth in weight and value quarter-on-quarter respectively, and 14% and 12% growth in weight and value compared with Q1 [March 21-June 21],” Rouhollah Latifi was also quoted as saying by IRNA.
Q3 exports stood at 32.34 million tons worth $13.34 billion, registering a growth of 17%, 20% and 25% in terms of value YOY, QOQ and compared with the first quarter (spring), respectively.
Imports stood at 10.98 million tons worth 13.82 billion, registering a 30% and 37% YOY growth in weight and value, respectively.
The official noted that the imports registered a 4% and 28% growth in terms of weight and 5.5% and 16% growth in terms of value compared with previous quarter and spring respectively.
According to IRICA, Q1-3 (March 21-Dec. 21) trade stood at 122.5 million tons worth $72.1 billion, registering an 11% and 38% year-on-year growth in weight and value respectively.
Exports hit 92.3 million tons worth $35.1 billion to register an 8% and 40% increase in weight and value respectively compared with last year’s corresponding period.
Petrochemicals had the lion’s share of exported items with 42.4 million tons worth $14.7 billion during the period, accounting for 46% of total exports’ weight and 42% of value.
China was Iran's biggest export destination with 21.3 million tons of imports worth $10.2 billion, followed by Iraq with 23.5 million tons worth $6.8 billion, Turkey with 11.7 tons worth $4.1 billion, the UAE with 8.3 million tons worth $3.4 billion and Afghanistan with 3.3 million tons worth $1.4 billion.
Imports hit 30.1 million tons worth $37 billion during the period, registering a 20% and 37% growth in weight and value YOY respectively.
The imported goods mainly consisted of essential goods: A total of 23.1 million tons worth $12.4 billion were imported, 32% and 61% higher in weight and value YOY respectively.
Also known as necessity or basic goods, essential goods are products consumers will buy, regardless of changes in income levels.
The UAE with 8.9 million tons of exports worth $11.5 billion, China with 2.5 million tons worth $8.4 billion, Turkey with 2.9 tons worth $3.7 billion, Germany with 593,000 tons worth $1.4 billion and Switzerland with 1.6 million tons worth $1.3 billion were the top five exporters to Iran.
