Economy, Domestic Economy

Non-Oil Export Target: $77b

Non-Oil Export Target: $77b
Non-Oil Export Target: $77b

The government plans to increase revenues from non-oil exports, including the export of services, to $77 billion by the end of the current Iranian calendar year (started March 21), deputy minister of industry, mine and trade, Mojtaba Khosrowtaj, said on Friday.

The export of non-oil goods, including gas condensates, reached $50 billion last year, recording a 19% increase compared to the preceding year. Moreover, around $13 billion was registered for the export of various services, which brings last year’s total export of goods and services to $63 billion.

“In order for the economy to be stimulated, industrial efficiency has to increase by 6% and $3 billion need to be attracted in foreign investment,” he was quoted by ISNA as saying, adding that the industrial sector requires a cash flow of nearly $125 billion in order to be efficiently run.  

He further said that plans are underway to establish 104 industrial towns across the country by the year’s end.

According to Iran’ Customs Administration, $7.7 billion worth of non-oil goods (excluding services) were exported during the first two months of this Iranian year.