Economy, Domestic Economy

7-Month Foreign Trade at $48b

7-Month Foreign Trade at $48b7-Month Foreign Trade at $48b

Iran’s non-oil foreign trade during the first seven months of the current Iranian year (started March 21) stood at about $48 billion, according to the latest report by the Islamic Republic of Iran Customs Administration. Imports, including corn for cattle feed, wheat, rice, soybean and soybean meal, amounted to $24 billion—down 21.9% compared to last year’s similar period.  China, the UAE, South Korea, Turkey and India were the top exporting countries to Iran during the period. Meanwhile, exports, including petroleum gases and hydrocarbons, liquefied propane and bitumen, reached $24 billion, indicating a 15.9% drop compared to the corresponding period of last year.  China, Iraq, the UAE, India and Afghanistan were the main export destinations.