Irans home appliance and electronics industry has been growing by leaps and bounds in recent years.
According to the Ministry of Industry, Mining and Trade, the home appliance industry saw a 78 percent growth spurt last year alone.
In 2019, the government banned imports of home appliances which consequently energized local productions. This initiative was put in place after two major Korean brands left the country leaving their infrastructure behind.
The policy serves two purposes: one, to strengthen domestic production and the other to stop illegal imports of home appliances.
The government and industry participants have focused on product quality using domestic resources. The goal was to transform the country into an exporting hub for home appliances.
Innovation centers and knowledge-based firms have also entered the realm of home appliance production which increased quality and added-value. Based on figures from Irans Home Appliance Industries, some home appliance manufactures have posted 100% output in recent years.
The data from the organization shows Iran has an annual export of around $350 million dollars annually.
Around $54 million worth of goods were exported in the first two months of this year alone. The government plans to increase these exports to 600 million dollars by the end of this year.