Current Fiscal’s 1st Auto Parts Import Bill: $192m

Iran’s auto parts import bill for the first month of the current fiscal which started on March 21 has come in with the total value of the goods standing at $192 million.
According to statistics released by Islamic Republic of Iran Customs Administration, in terms of value, auto parts have a 7.6% share of the goods entering Iran through legal channels, topping Iran’s import bill. This is not something out of ordinary and testifies to local carmakers’ overreliance on foreign suppliers.
The published data indicate a 189% year-on-year growth in auto parts imports.
Furthermore, the shipments are categorized into three groups depending on the share of locally manufactured parts in the final product: vehicles with under 30% localization, 30-50% and over 50%.