Economy, Domestic Economy
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Technical, Engineering Services Export Down

Technical, Engineering Services Export DownTechnical, Engineering Services Export Down

Iran’s export of technical and engineering services has declined sharply over the past four years, falling down by more than 75% from $4.3 billion in 2011 to less than $1 billion annually, according to head of the Association of Iranian Exporters of Technical and Engineering Services, Mohammad Reza Ansari. The official blamed lack of sufficient export incentives and western sanctions imposed over Iran’s nuclear energy program for the decline in export value and called on the government to increase its support for the sector, Mehr News Agency reported. Iraq is currently the biggest destination for Iran’s services exports, said Ansari. “But attacks by the IS militant group and the consequent economic difficulties of the Iraqi government have limited the activities of Iranian engineering companies in Iraq,” he added.

Financialtribune.com