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Iran’s non-oil exports up by 6.2% in month to Feb. 18

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran’s non-oil exports surged by 6.2 percent in month to February 18 compared to the previous month.

Iran has reported a slight increase in its exports of non-oil goods in the calendar month to late February amid an easing of coronavirus-related restrictions on trade.

A senior official at Iran’s Trade Promotion Organization (TPO) said on Tuesday that the country had exported $3.135 billion worth of non-oil goods in the month to February 18, an increase of 6.2 percent compared to the previous calendar month.

Abbas Khaleqitabar said exports in February had accounted for more than 10 percent of the value of all shipments send from the country this calendar year beginning March 20, 2020.

Shipments to China, Iraq, the United Arab Emirates, Turkey and Afghanistan were responsible for $23 billion or 75 percent of the exports in dollar terms, said Khaleqitabar.

Petrochemicals and condensates accounted for more than half of all shipments, followed by metals at 21 percent, food and farming products at 18 percent and manufactured goods at 10 percent, he said.

Iran has increasingly relied on exports of non-oil goods as a means of earning hard currency at a time its crude sales have been hampered by US sanctions.

Non-oil exports from Iran have rebounded in recent months after a relative decline recorded in early months of the current calendar year when the spread of the pandemic had caused closures at borders.

Experts believe Iran’s exports could stay strong in 2021 as the government would seek to further diversify the economy away from oil by supporting increased activity in domestic manufacturing and agriculture sectors.

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