Domestic Economy
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ICA: 95% of Exports to Asia, 2.9% to Europe

ICA: 95% of Exports  to Asia, 2.9% to EuropeICA: 95% of Exports  to Asia, 2.9% to Europe

According to a report released by the Islamic Republic of Iran Customs Administration on foreign trade in the first month of the current Iranian year (March 21- April 20, 2015), non-oil goods (excluding gas condensates) worth $2.209 billion were exported during the period. Total non-oil imports amounted to $1.971 billion, making up for a trade surplus of $238 million.

The main goods exported during the period include low-density polyethylene, liquefied propane, bitumen, methanol, and liquefied butane; while the main goods imported include corn for cattle feed barley, rice, heavy machinery/ equipments and unripe bananas.

China was the major export destination, accounting for $641 million or 29.02% of the total export value. Iraq came next with more than $375 million, followed by the United Arab Emirates (UAE) with more than $333 million. India and Afghanistan were other major importing countries with $155 million and $145 million respectively.

With $449 million, China accounted for the majority of Iran’s total imports during the period. The UAE came second with $399 million. South Korea with $188 million, Turkey with $184 million and India with $152 million were the next major exporters respectively.

> Trade Balance

Iran recorded a negative balance of trade (excluding oil, gas and services) with 58 countries, while registering a positive trade balance with 52 countries.

The biggest trade surplus was recorded with Iraq, amounting to nearly $372 million, followed by China, Afghanistan and Turkmenistan with $192 million, $145 million and $53 million trade surplus respectively.

Meanwhile, the biggest trade deficit was registered with South Korea at $174 million. Switzerland came next with a negative trade balance of $102 million, followed by Germany, the United Arab Emirates and Turkey with $95 million, $66 million and $50 million trade deficits respectively.

> Continental Statistics

The majority of Iran's exports were headed to Asia and Europe, with the two continents accounting for 97.89% of total exports during the first month of the Iranian calendar year. Asia was home to 94.94% of Iran's exports in terms of value, while Europe accounted for 2.95% of exports. Africa, America and Oceania were home only to 2.02%, 0.06% and 0.03% of Iran's exports during the period respectively.  

Asia and Europe were also the leading exporters to Iran, together accounting for more than 98.26% of imports in terms of value. As much as 76% of imports during the period came from Asia, with Europe accounting for 22.04% of total non-oil imports. Imports from the other three continents stood at 1.27% for America, 0.68% for Africa and 0.02% for Oceania.

> Export/Import Portals

The majority of exports during the period was carried out through Assaluyeh's Pars Special Energy Economic Zone, accounting for 33.39% of exports in terms of value. Bandar-e Imam Khomeini Petrochemical with 10.68% and Shahid Raja'ee Port with 9.22% were the other major ports for export.

Meanwhile, Shahid Raja'ee Port, Bandar-e Imam Khomeini and Bushehr Special Trade Zone were the major ports of entry for non-oil goods, accounting for 36.75%, 16% and 9.11% of imports in terms of value respectively.

 

Financialtribune.com