Economy, Domestic Economy

2-Month Foreign Trade Exceeds $12b

2-Month Foreign Trade Exceeds $12b2-Month Foreign Trade Exceeds $12b

Iran’s non-oil foreign trade in the first two months of the current Iranian year (March 20-May 20, 2016) reached $12.35 billion. According to the Islamic Republic of Iran Customs Administration, exports stood at $6.85 billion, registering a 14.68% decline compared with last year’s corresponding period. Exports mainly included gas condensates ($1.88 billion), petroleum gases and liquefied hydrocarbons ($272 million), ferrous products and non-alloy steel ($247 million), liquefied propane ($237 million) and bitumen ($201 million).  China, the UAE, Iraq, South Korea and India were the top export destinations. Imports stood at $5.49 billion, which indicates a 13.54% drop over last year’s similar period.  The main imports during the two-month period included corn for cattle feed ($180 million), soybean ($133 million), soymeal ($129 million), automobile parts, excluding tire ($166 million), and rice ($104 million). China, the UAE, Russia, Turkey, South Korea, Germany and India were the top exporting countries to Iran during the period.