Economy, Domestic Economy

Higher Target Set for Non-Oil Exports

Higher Target Set for Non-Oil ExportsHigher Target Set for Non-Oil Exports

Non-oil exports should increase by $10 billion in the current fiscal year (ends in March 2017), according to the deputy minister of industries, mining and trade, Reza Rahmani.

“At present 150 major production units are under construction in the country, 35 of which will come on stream by the yearend,” he was quoted by IRNA as saying.

Rahmani said the new factories are related to steel, cement, household appliances and auto production and will help boost the non-oil exports.

According to the Islamic Republic of Iran Customs Administration, non-oil exports generated $42.4 billion in the last fiscal year.   

IRICA data for the first four months of the current fiscal year (March 20-July 21) shows more than 41 million tons of goods worth $16 billion were exported during the period, showing an  increase of 36% and 21% growth in volume and value compared to the same period last year.