The price of Iranian exports has dropped year-on-year, thus making them more competitive. The Export Price Index fell by 2.9 percent in the first seven months of the current fiscal year compared to the same period a year ago, according to the Central Bank of Iran. The current Iranian fiscal year started on March 21, 2014. The Export Price Index measures changes in prices of goods and services that are exported. It’s an index calculated for the price(s) of one or any specified group of commodities entering into international trade using, ideally, f.o.b. export prices. The decrease in the Export Price Index coupled with an eight percent decrease in the value of the rial makes Iranian exports more competitive, though they are hampered by financial sanctions leveled against Tehran over its nuclear energy program. The sanctions are giving exporters a hard time on transfer of funds.
