Economy, Domestic Economy

Call for Export Diversity

Call for Export DiversityCall for Export Diversity

An official from the Export Guarantee Fund of Iran has sounded the alarm over a rising risk of export concentration, saying the limited number of export destinations could impact the national economy. “About 70 percent of Iran’s total exports is bound for only five countries, including China, Iraq, UAE, Afghanistan and India. This could adversely affect Iran’s foreign trade,” IRNA quoted the EGFI official as saying. Diversifying of export destinations should be seriously taken into account by the government, he said. “Unfortunately, we see such risk concentration also exists in import sector and we should mitigate that by adding the number of target countries.”