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Iran reports 8.5% drop in non-oil exports in Mar-Aug

Iran’s non-oil exports dropped by 8.5% year on year in March-August to reach $19.3 billion.

Figures by Iran’s customs office (IRICA) show exports from the country fell by 8.5% in the five months to August 22 amid a decline in international prices of petrochemicals.

IRICA figures published on Tuesday showed that non-oil exports from Iran had reached $19.3 billion in March-August. 

The figures showed that shipments had risen by 26.56% in volume terms over the same period.

China was the largest customer of Iranian export commodities in the five months to late August with $5.6 billion worth of purchases, followed by Iraq at $3.5 billion and the United Arab Emirates at $2.3 billion, said IRICA, adding that the three countries along with Turkey and India had been responsible for nearly 75% of all purchases.

A report by the official IRNA said falling international prices of petrochemical products, which account for a major part of Iranian non-oil exports, had caused a decline in the value of Iranian shipments over March-August compared to the same period last year.

IRICA figures showed that imports into Iran had risen by 7.49% year on year in the five months to late August to reach $24.2 billion.

It said the largest exporters to Iran over the period had been the UAE with $7.3 billion worth of supplies, followed by China at $7.1 billion and Turkey at $2.5 billion.

IRICA said imports from Germany and India had reached $879 million and $813 million, respectively, over March-August.

Iran has maintained strong trade ties with the rest of the world in recent years despite facing restrictions because of US sanctions.

IRICA figures show that exports from Iran reached a multi-decade record of over $53 billion in the calendar year to late March.

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