News   /   Economy

Iran home appliance output up 8.7% in March-August

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 home appliance sector keeps booming as output surges by 8.7% in March-August.

Figures by Iran’s ministry of industries (MIMT) shows home appliances production in the country kept growing at a robust rate in the first five months of the current calendar year to reach over 2.61 million units.

MIMT figures cited in a Sunday report by the official IRNA news agency showed that home appliance output had increased by 8.7% in the five months to August 22 compared to the similar period in 2020.

Fridges and freezers had accounted for a bulk of output in March-August with a total of 858,700 units, up 11.9 against last year.

Swamp coolers came second in terms of with 753,700 units, an increase of 4.1% compared to the five months to August 2020.

However, washing machine production was the most promising as domestic home appliance manufacturers churned out a total of 549,900 units, up 36.8% against March-August last year.

However, TV set production dropped by 11.7% year on year in late August to stand at 447,700 units, said the report by IRNA, adding that the decline was mainly due to a global shortage of microchips that are widely used in manufacturing televisions.

Iran’s home appliance sector has expanded considerably since 2018 when major international brands decided to halt supplies to the country to comply with the US sanctions.

MIMT figures show that the sector has grown in size to reach an annual value of $6 billion while number of jobs in the sector has increased to reach nearly 300,000.

That comes as foreign brands which are illegally smuggled into Iran still account for a third of the country’s home appliances market.

Press TV’s website can also be accessed at the following alternate addresses:

Press TV News Roku