• time : 15:30
  • Date : Tue Nov 26, 2024
  • news code : 270628
Iran's non-oil exports increased by 18 percent in first 8 months
The head of the Islamic Republic of Iran Customs Administration (IRICA) has reported a significant increase in the country's non-oil exports during the first eight months of the current Iranian calendar year, which runs from March 20 to November 20, 2024. According to Foroud Asgari, Iran's non-oil exports reached approximately $38.15 billion, marking an 18% increase compared to the same period last year.

During this timeframe, Iran's imports, which included gold bullion, totaled around $45.13 billion. Asgari noted a slight decline in the volume of imports, which decreased by 1.73% to 24.53 million tons.

The weight of non-oil exports during these eight months was reported at 103.56 million tons, reflecting a 14.66% increase from the previous year. A substantial portion of these exports consisted of petrochemical products, with 44.9 million tons exported, valued at $17.5 billion—an increase of 31.43% in weight and 29.79% in value.

China emerged as the leading importer of Iranian non-oil goods, accounting for $9.9 billion in imports, followed by Iraq with $8.3 billion, the United Arab Emirates at $4.8 billion, and Turkey at $4.4 billion. Collectively, these countries represented approximately 82% of both the weight and value of Iran's total non-oil exports.

In terms of imports, the United Arab Emirates was the largest supplier to Iran, providing goods worth $13.6 billion, followed by China with $11.5 billion, and Turkey with $7.8 billion. Notably, 76.42% of the weight and 83% of the value of Iran's total imports originated from just seven countries.

Asgari highlighted that liquefied natural gas topped the list of exports at $5.1 billion, followed by liquefied propane at $2.2 billion, and methanol at $1.7 billion. Conversely, Iran's largest imports included gold at $4.6 billion, corn at $1.8 billion, and smartphones at $1.5 billion.

This data underscores a robust performance in Iran's non-oil sector amid ongoing economic challenges and reflects a strategic focus on diversifying trade partnerships and enhancing export capabilities.

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