Economy, Domestic Economy

Trade Imbalance

Trade ImbalanceTrade Imbalance

Imports outpaced exports by less than $3 billion in the first eight months of the year starting March 20, 2014. Nearly $34.2 billion worth of goods, mostly food and cars, were imported into Iran via China, South Korea, India and Turkey. Meanwhile, Iran exported $31.4 billion worth of goods during the period, mostly to China, Iraq, the United Arab Emirates, India and Afghanistan, data released by the Islamic Republic of Iran Customs Administration show. Non-oil exports grew by 19.7 percent while non-oil imports grew by 20.2 percent compared to the same period last year, pointing to a further increase in Iran’s trade account deficit.