Economy, Domestic Economy

9-Month Foreign Trade at $62b

9-Month Foreign Trade at $62b9-Month Foreign Trade at $62b

Iran’s non-oil foreign trade during the nine-month period ending December 21 stood at about $62.19 billion, according to the latest report published by Iran Customs Administration.

Imports, including corn feed (3.5% of total imports), wheat (2.09%), soybean (1.94%) and soybean meal (1.73%), amounted to $30.16 billion—down 22.34% compared to last year’s similar period.  

China, the UAE, South Korea, Turkey and Switzerland were the top exporting countries to Iran during the period.

Meanwhile, exports, including gases and hydrocarbons, liquefied propane and bitumen, reached $32.03 billion, indicating an 11.16% drop compared with the corresponding period of last year.  

China, Iraq, the UAE, India and Afghanistan were the main export destinations.

  Monthly Trade

A look at Iran’s monthly trade shows the volume of exports during the ninth month of the current Iranian year, Azar (November 22-December 21), was the lowest in the current Iranian year (started March 21).

Exports registered a 56% decline to stand at $2.39 billion and imports had a 6% rise to reach $3.13 billion compared to the preceding month. Year-on-year decrease of 35% in exports and 26% in imports were registered compared with the similar month of last year, Donya-e-Eqtesad reported.

The impact of the global fall in prices of oil and byproducts as well as the recession and the anticipation of sanctions relief are to blame for lackluster trade figures.