Economy, Domestic Economy

Foreign Trade at $42b

Foreign Trade at $42b
Foreign Trade at $42b

Iran’s non-oil foreign trade during the first half of the current Iranian year (March 2016-17) amounted to $42.14 billion.

According to the latest report of the Islamic Republic of Iran Customs Administration, H1 non-oil exports (March 20-September 21) hit $21.7 billion, indicating a 5.99% rise compared with the corresponding period of last year.

Imports stood at $20.3 billion during the same period, registering a 2.61% decline year-on-year.

Petrochemicals were the main exported commodity ($8.69 billion), followed by gas condensates ($3.49 billion), liquefied natural gas ($1.94 billion), petroleum gases and liquefied hydrocarbons ($836 million), light crude oil, excluding gasoline ($688 million), and liquefied propane ($636 million).

The main imported commodities included corn ($551 million), soybean ($503 million), rice ($478 million), auto parts ($432 million) and different types of vehicles ($357 million).

China was the main export destination as $3.99 billion worth of goods were exported there. Other destinations included the UAE with $3.4 billion, Iraq with $2.97 billion, Turkey with $2.32 billion and South Korea with $1.78 billion.

Major exporters to Iran included China ($4.86 billion), the UAE ($3.45 billion), South Korea ($1.57 billion), Turkey ($1.32 billion) and Germany ($1.12 billion).