Economy, Domestic Economy
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Carpet Industry in Doldrums

Carpet Industry in DoldrumsCarpet Industry in Doldrums

Iran has lost its substantial share in the international carpet market, Razi Miri, the deputy manager of the union of hand-woven carpet exporters told ISNA on Saturday. The official said the impact of draconian western sanction over Iran’s nuclear energy program combined with the high production costs are the major reasons behind the industry’s failure to catch up with the world market. Sanctions have caused a drop of about 25 percent in Persian handmade carpet exports, according to official data.  The value of exports over the past Iranian year, which ended March 20, 2014, stood at $314 million – the lowest in the past two decades.

Financialtribune.com