Iran’s 8-Month Auto Parts Import Bill: $972m

Auto parts imports jumped 83% year-on-year during the first eight months of the current fiscal that ends in March. Data published on the website of the Islamic Republic of Iran Customs Administration shows that during the period, auto parts worth $972 million entered the country. Auto parts are the third biggest imported item after rice and field corn. Several foreign firms including France’s Peugeot and others from China are assembling vehicles in Iran in collaboration with local companies. The sharp rise in spare parts import is due to the increased presence of foreign auto companies in Iran.