Iran Mercantile Exchange Trade Value at 6.5% of GDP

Iran Mercantile Exchange’s trade value stood at 817 trillion rials ($21.78 billion) during the previous fiscal year (March 2016-17), accounting for 6.5% of Iran’s gross domestic product, IME’s chief executive, Hamed Soltaninejad, said. The official noted that IME outperformed Tehran Stock Exchange in terms of annual trade value by more than 182 trillion rials ($4.85 billion) last year, Securities and Exchange News Agency reported. IME is a commodities exchange located in Tehran, Iran. Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. The mercantile exchange has recently added various commodities to its arsenal, such as gold, pistachio, saffron and autos.