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Iran reports robust growth in home appliance output

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)
Production of home appliances by Iranian manufacturers surged by up to 50% year on year in February.

A report shows that Iranian home appliance manufacturers have seen their output for main devices surge by up to 50 percent year on year in late February.

The Saturday report by the official IRNA agency said that production of TV sets, fridges and washing machines by Iranian home appliance brands had reached over four million sets in the 11 months to February 18.

Iranian companies produced 1.009 million sets of washing machines over the period, an increase of 49.9 percent year on year, said the report, citing figures published by Iran’s ministry of industries (MIMT).

Output for fridges and freezers surged by 32.1 percent against last year to reach a total of more than 1.9 million sets, it said, adding that TV set production had topped 1.13 million, up 40 percent against the 11 months to late February, 2020.

For the past two years, Iran has been reporting a robust surge in activity across the manufacturing sector amid lower imports of foreign-made products and a growing demand for local brands.

Iranian customers have lost their traditional appetite for major foreign brands of home appliances especially after reports showed many of those companies left the Iranian market in recent years under growing pressure from the US.

The MIMT had set a record output target of 12 million devices for the domestic home appliance sector for the year to March 20. The output, the highest on record since 1979, was materialized in late January, said the IRNA report.

Official studies suggest Iranian home appliance brands can expand to supply their products to a regional market of 400 million people.

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