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Iran reports further surge in factory activity in March-November

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 reports further surge in factory activity as home appliances output tops 3 mln units in March-Nov.

Iran’s ministry of industries (MIMT) has reported another period of growth in the country’s manufacturing captivity, saying output in the home appliances sector rose nearly 10% to reach three million units in the March-November period.

MIMT figures cited in a Thursday report by the ISNA news agency showed that factory activity had grown for 18 out of 27 manufactured products examined by the ministry for the eight months to November 21.

Largest surge in output was reported in the Iranian truck manufacturing sector where domestic companies reached a record production of 6,177 units in the March-November period, an increase of 75.5% compared to the similar period last year.

Cooking oil production rose by 40.8% to 1.352 million metric tons while washing machine output surged 28.8% to 916,000 units over the eight months to late November.

The report highlighted the continuous surge in activity in Iran’s home-grown home appliances sector where total output rose 9% to nearly 3.125 million units over the March-November period.

A breakdown of the figures showed that fridge production by Iranian companies had increased 7.8% to 1.446 million units while TV set production had declined 4.9% year on year in March-November to 763,000 units.

Iran has imposed an outright ban on imports of home appliances, especially from South Korea, to help boost domestic manufacturing and to create more jobs.

The policy has been implemented on a smaller scale in other manufacturing sectors since 2018 when Iran decided to rely more on domestic companies to offset the impacts of American sanctions on the economy.

The MIMT figures pointed to visible growth in manufacturing activity for certain products in Iran in the eight months to late November, including in the production of various vehicles, paper, petrochemicals, and motor oil.

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