Foreign trade data released by Islamic Republic of Iran Customs Administration for the first four months of the current Iranian year (March 21-July 22) indicate that the country maintained a positive balance in non-oil trade during the period, while both imports and exports declined compared with the similar period of last year.
About $27.83 billion worth of non-oil trade was recorded during the period, with 32.4 million tons of exports (including gas condensates and petrochemicals but excluding oil and gas) valued at $14.01 billion and 11.3 million tons of imports worth $13.8 billion, IRICA’s public relations office reported.
While data indicates a trade surplus of $328 million, the volume of export and import dropped considerably by 15.20% and 20.18% respectively compared with the similar period last year.
Trade surplus has been shrinking over the past months. IRICA had earlier announced a trade surplus of $2.2 billion for the first two months of the current Iranian year, while $520 million trade surplus was recorded during the year’s first quarter.
IRICA blames a 39.4% decline in gas condensate export over the similar period last year as the main reason for the reduction in export.
> Exports, Destinations
Major exports during the period included liquefied petroleum gases and hydrocarbons, valued at $675 million (6.25%), liquefied propane worth $540 million (4.99%) and bitumen worth $480 million (4.44%).
China remained the leading export destination, importing 7.9 million tons of Iranian goods valued at $2.5 billion. Iraq came next with $1.9 billion worth of imports, up by 4% compared with the similar period last year.
The United Arab Emirates was the third major buyer of Iranian goods during the period, importing $1.6 billion worth of commodities, showing an increase of 34% in import value compared with the similar period of last year. India's imports grew by 33% from last year to $913 million to place the country as the fourth major export destination. Afghanistan followed with $811 million.
> Imports, Origins
The five main commodities imported during the period included: corn for cattle feed ($430 million), rice ($302 million), soybean meal ($297 million), mineral processing machines and equipment ($271million) and auto parts ($264 million).
China was the biggest exporter to Iran, accounting for $3.5 billion worth of imports during the period. However, China’s exports to Iran showed 9% decline compared with the similar period of last year.
The UAE came second, exporting $3 billion worth of goods to Iran, down 32% compared with last year’s similar period. South Korea, Turkey and India were other top exporters to Iran during the period, with imports from these countries amounting to $1.26 billion, $1 billion and $843 million respectively.
