80869
A smaller trade deficit ($1.26 billion) was registered in the month ending Jan. 20 compared with the previous month ($1.99 billion).
A smaller trade deficit ($1.26 billion) was registered in the month ending Jan. 20 compared with the previous month ($1.99 billion).

Iran's 10-Month Foreign Trade Hits $78b

Exports hit 99.3 million tons worth $35.61 billion, indicating a decline of 7% in weight and 2% in value while imports amounted to 30.49 million tons worth $42.8 billion, up 10% in weight and 22% in value year-on-year
Petrochemical exports stood at 22.44 million tons worth $10.67 billion, accounting for nearly 30% in terms of value and 23% in terms of weight of Iran’s total exports

Iran's 10-Month Foreign Trade Hits $78b

Iran’s non-oil trade with other countries in the first 10 months of the current fiscal year (March 21, 2017-Jan. 20) stood at $78.41 billion, indicating a rise of 9.5% compared with last year’s corresponding period.
Exports hit 99.3 million tons worth $35.61 billion, indicating a 7% decline in weight and a 2% drop in value year-on-year, the Persian economic daily Donya-e-Eqtesad reported, citing the Islamic Republic of Iran Customs Administration’s latest figures.
Imports amounted to 30.49 million tons worth $42.8 billion, up 10% in weight and 22% in value YOY.
Iran’s foreign trade over the Iranian month ending Jan. 20 hovered around $9.2 billion, indicating a 24.4% rise YOY. Exports during the month hit $3.97 billion and imports amounted to $5.23 billion, indicating a 1.7% decline in exports and a 56% rise in imports over last year’s similar month.
The country registered a smaller trade deficit ($1.26 billion) in the month ending Jan. 20 compared with the previous month ($1.99 billion).
Exports rose by 26% and imports increased by 2% in the same period compared with the previous month ending Dec. 21, 2017.

  Top Traded Commodities
Iranian exporters managed to sell 22.44 million tons of petrochemical products worth $10.67 billion during the 10 months. Petrochemicals accounted for nearly 30% in terms of value and 23% in terms of weight of Iran’s total exports.
Last year’s figures for the similar period show the country exported 26.54 million tons of petrochemicals worth $11.72 billion. Therefore, petrochemical exports have seen more than a 15% drop in weight and 9% decline in value in the 10 months compared with the same period of last year.
Other major exported commodities during the period were gas condensates ($5.67 billion or 16% of total exports), liquefied propane ($1.21 billion or more than 3% of overall exports), light crude oil, excluding gasoline($997 million or around 3% of total exports), methanol ($984 million or nearly 3% of total exports) and granulated hematite iron ore ($845 million or more than 2% of total exports).
Imports mainly included auto parts ($1.4 billion or more than 3% of total imports), field corn ($1.25 billion or around 3% of total imports), rice ($1.02 billion or more than 2% of total imports), soybean ($775 million or close to 2% of total imports), vehicles of engine displacement between 1500 cc and 2000 cc, except for ambulance and hybrid cars ($683 million or more than 1.5% of total imports).

   Main Customers
China was the main customer of Iranian products during the period, as Iran exported 28.18 million tons of commodities worth $7.42 billion to the Asian country, 11% more in terms of value and 5% less in terms of weight compared with the corresponding period of last year.  
Exports to China account for more than 28% in terms of weight and around 21% in terms of value of Iran’s total exports.
Other major export destinations included the UAE with 14.64 million tons of imports from Iran worth $5.13 billion (accounting for over 14% of Iran’s total exports in terms of value and 15% in terms of weight), Iraq with 10.58 million tons worth $5.04 billion (accounting for more than 14% of Iran’s total exports in terms of value and 11% in terms of weight) and South Korea with 8.28 million tons worth $3.41 billion (accounting for 9.5% of Iran’s total exports in terms of value and 8% in terms of weight).
India was the fifth biggest importer of Iranian goods during the 10-month period. The South Asian country bought 8.33 million tons of Iranian products worth $2.27 billion to constitute more than 6% of Iran’s total exports in terms of value and 8% in terms of weight.
Exports to China fell by 5% in weight and rose by 11% in value during the period under review.
Iran’s exports to the UAE saw a decline of 7.5% in weight and 19% in value YOY.
Similarly, exports to Iraq registered a decline of more than 13% in weight and around 1% in value.
South Korea’s imports from Iran increased both in weight and value compared to the same period of last year, registering a 39% rise in weight and close to 33% increase in value.
Exports to India increased by 5% in terms of weight and decreased by 3% in terms of value YOY.  

  Major Exporters to Iran
Major exporters to Iran included China with 3.8 million tons worth $10.22 billion, the UAE with 4.97 million tons worth $7.78 billion, South Korea with 1.21 million tons worth $2.97 billion, Turkey with 1.54 million tons worth $2.6 billion and Germany with 714,000 tons worth $2.34 billion.
Imports from China saw a rise of more than 5% in weight and 21% in value in the 10-month period.
The UAE exported 18% more goods in terms of weight and 42% more in terms of value year-on-year.
Imports from South Korea saw a rise of 1% in weight and 6% in value.
Turkey’s exports to Iran rose by 16% in weight and more than 18% in value during the period under review.
Iran’s imports from Germany registered a decline of 15% in weight and an increase of 19% in value YOY.
The average price of each ton of exported goods stood at $359, posting a 5.5% rise over last year’s corresponding period and the average price of each ton of imported commodities hovered around $1,404, up 10% YOY.

Short URL : https://goo.gl/tW5mq4
  1. https://goo.gl/iKD7XW
  • https://goo.gl/XEX9ZL
  • https://goo.gl/bHD6gP
  • https://goo.gl/j8Tp4y
  • https://goo.gl/re2Yyp

You can also read ...

Export Billet Prices Increase on Reduced Availability
Iranian export billet prices increased by $5-10 per ton over...
Non-Oil Trade With Caspian Countries Crosses $2 Billion
Iran’s total non-oil trade with Caspian Sea littoral states in...
Import of Processed Fruit Products at  Over $3m
More than 6,000 tons of processed fruit products, including...
Handmade Carpet Exports Exceed 40%  in 2 Months
Iran exported 594 tons of hand-woven carpets worth $33.7...
11% Rise in Foreign Rail Passengers to Mashhad
The number of foreign visitors travelling to the northeastern...
Postal Damage Claim System Goes Online
A new system, which allows complainants to file refund claims...
Price Hike Blamed on Lack of Monitoring Over Production Units
The recent increase in commodity prices in Iran has resulted...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus