Iran’s non-crude exports hit record of $5.26bn in October
Iranian non-crude exports hit a record high of $5.268 billion in the calendar month to October 22, according to figures by Iran’s customs office (IRICA), as a new administration that took office in mid-summer keeps encouraging more activity in the country’s non-crude sector to offset losses suffered in oil exports because of US sanctions.
IRICA spokesman Rouhoallah Latifi said on Monday that Iran’s October exports had been 67% higher than the average figures reported for the first five months of the calendar year starting late March.
Overseas shipments in the month to late October had risen by over 27% against September, said Latifi.
The official added that exports had started to jump in September when shipments had reached a total of $4.145 billion, an increase of 60% compared to the previous five-month average.
Iran has seen a boom in non-crude exports since the United States pulled out of an international nuclear deal and imposed sanctions on the country in 2018.
Shipments have continued to grow both in value and in volume terms despite massive restrictions imposed on trade since early last year when governments around the world moved to contain the spread of the coronavirus pandemic.
Latifi attributed the surge in exports to policies adopted by the current administration in Iran, saying shipments started to increase just after the government came to office in early August.
“The country’s foreign trade has had a meaningful increase ... Despite a (general) growth in exports and its return to pre-coronavirus pandemic conditions, the growth has had a more rapid pace in the two months since the (current) administration came to office,” said the official.
Iran’s total exports in the seven months to October 22 had reached $27.074 billion, he said.
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