Economy, Domestic Economy

Iran’s Foreign Trade Balance Remains Positive

Iran’s Foreign Trade Balance  Remains PositiveIran’s Foreign Trade Balance  Remains Positive

Iran’s non-oil foreign trade during March 21, 2015-16 stood at $81.38 billion, according to the latest report of the Islamic Republic of Iran Customs Administration.

Imports, including field corn, wheat, soybean, rice and soybean meal, amounted to $40.13 billion—down 22.77% compared with last year’s similar period. These mainly originated from China, the UAE, South Korea, Turkey and Switzerland.

Exports, which chiefly comprised petroleum gases and hydrocarbons, liquefied propane and bitumen, reached $41.24 billion, indicating a 16.3% drop compared with the corresponding period of last year. The decline in exports is largely blamed on a 52.88% fall in the export of natural gas condensates.

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

The figures show non-oil exports to China and Iraq decreased by 23% and 4% whereas exports to the UAE registered a 21% growth. Afghanistan and India’s imports from Iran also rose 4% and 1% respectively.