Iran's foreign trade exchanges surpass $25bn in 4 Months

The Value of Iran's foreign trade exchanges exceeded $25bln during the first 4 months of the current Iranian year (started March 21) despite the sanctions and restrictions imposed by the West on Iran's economy, customs administration announced. Iran exported $12.536bln worth of non-oil goods, and imported $12.909bln worth of products in the said period showing a 27.26 percent decrease in imports as compared with last year’s corresponding period. Methanol, non-compressed iron ore, bitumen and gas condensates comprised Iran's main export commodities.  Iraq, China, the United Arab Emirates (UAE), Afghanistan and India were the main importers of Iranian non-oil goods. Meantime, Iron and steel ingots, wheat, corn fodder, rice and soybean meal were the main commodities imported. Earlier this month, a senior Iranian trade official announced that the value of Iran’s foreign trade exchanges exceeded $19 billion in the first quarter of the current year. “Iranian non-oil exports stood at $9.8 billion, while the country’s imports amounted to $9.4 billion,” Deputy Head of Iran's Trade Promotion Organization (TPO) Kioumars Fathollah Kermanshahi said. Last month, Iranian Economy Minister Seyed Shamseddin Hosseini said that Iran's non-oil exports witnessed an eye-catching growth in the last Iranian year (ended March 20) despite the sanctions and restrictions imposed by the West on Tehran. “The value of the country’s non-oil goods exported last year hit $41.3 billion,” the Iranian economy minister said, addressing a conference on monetary policy of global economy. He noted that the figure shows an increase as compared with last year due to growth in tourism sector and exports of agricultural and mineral products. "The non-oil export deficit reduced to $12.3 billion last year from the previous figure of $18 billion," Hosseini said.