Domestic Economy
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Upheaval in Home Appliances Market Gives Rise to Smuggling

Imports of home appliances plunged by 83.43% last year while domestic production fell by 40%
Upheaval in Home Appliances Market Gives Rise to SmugglingUpheaval in Home Appliances Market Gives Rise to Smuggling

A total of $215 million worth of home appliances were imported into Iran during the last fiscal year (March 2018-19), down from $1.28 billion in the previous year, indicating an 83.43% plunge year-on-year, data provided by the Islamic Republic of Iran Customs Administration show.
According to officials and businesspeople active in the industry, the domestic production of home appliances fell by 40% last year. 
While domestic demand for refrigerators stands at around 1.2 million units per year, only 850,000 fridges were produced last year. 

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