Economy, Domestic Economy

Export-Based Industries in the Black

Export-Based Industries in the BlackExport-Based Industries in the Black

The weakening of the Iranian currency against the dollar during the month ending December 21, created a 4 percent profit for export-oriented industries, based on a report released by Eqtesadnews on Monday. The report is based on Central Bank of Iran’s (CBI) latest data about the price index of exported goods and shows that the average price of exports increased by 3.9 percent over the period.

Based on the CBI report, total non-oil exports recorded an 18 percent growth during the first nine months of the current fiscal year (to end March 20) compared to the same period last year. The total amount of non-oil exports over the nine-month period was 35.2 billion dollars, which shows a 5 percent growth in volume.

A closer inspection of the CBI report reveals that in almost all categories, the price index showed growth. Leather products with 8.9 percent and petrochemical products’ with 2.2 percent were the only two product bundles that experienced negative growth (decrease in export quantity).

Moreover, the report shows that the top three industries with highest growth rate over the same period were vehicle and transportation equipment with 11.4 percent, mineral products with 8.3 percent and petrochemical products with 5.5 percent growth.