Economy, Domestic Economy
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Downtrend in Iran's Basic Commodities Imports

Downtrend in Iran's Basic Commodities ImportsDowntrend in Iran's Basic Commodities Imports

A look at Iran’s trade statistics shows a downward trend in the import of basic commodities since President Hassan Rouhani took office in 2013.

According to the Islamic Republic of Iran Customs Administration, Iran imported $862 million worth of wheat in the last Iranian year (March 2015-16).

The figure stood at $2.42 billion In the previous year. About $280 million worth of goods were imported during the seven months of the current Iranian year (March 20-October 21).

In the fiscal March 2014-15, $1.43 billion worth of rice were imported to Iran. Last year, rice worth $680 million were imported and in the seven months of the current Iranian year, rice valued at $508 million were imported.

Field corn imports decreased to $1.4 billion last year from $1.79 billion a year before. IRICA’s seven-month figures show field corn imports stood at $679 million.  

About $1.26 billion worth of soybean meal were imported two years ago (March 2014-15). The imports almost halved to stand at $672 million last year.

Soybean meal imports continued its falling trend during the seven months of this year to stand at $356 million.

Non-oil exports outweighed imports last year, marking Iran’s first-ever positive trade balance since the 1979 Islamic Revolution.

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