Iran's Export of Industrial Products Up 70%

Head of the Trade Promotion Organization of Iran Alireza Peymanpak said that the country’s export of industrial products has increased 70%.

He added that no exports goods have been returned or rejected to the country in the last 11 months due to strict monitoring of their quality and packaging.

Peymanpak also said that an Iranian trade delegation has been sent to Indonesia. The delegation consisted of officials and experts from the Ministries of Agriculture Jihad, Foreign Affairs, Industry, Mine and Trade, and the Presidential Legal Assistant. The delegation has been negotiating a model of preferential tariff with Indonesian trade officials.

He stated that in line with the macro-economic policy and within the next two months, the production line of home appliances would start working jointly with the investment and financing of $1bln with Russia.

"In the African region, we are witnessing a 100% growth in exports, and in the next month, the volume of exports to these countries will exceed $1bln, and in the European region, we have finalized various insurance contracts," Peymanpak concluded.

Meantime, Iranian customs office (IRICA) figures showed that trade between the country and the rest of the world exceeded the $50 billion mark at the end of the first half of the current fiscal year in late September.

IRICA figures published on Wednesday indicated that Iran’s foreign trade had reached a total of $50.282 billion in the six months to September 22, up 13.2% from the same period in 2021.

The figures, which do not cover Iran’s crude oil exports, showed that the country had exported 51.783 million metric tons (mt) worth $24.251 billion of goods over the March-September period.

IRICA said exports had increased by 13.32% in terms of value but decreased 12.5% in terms of volume year on year in the current calendar year’s first half.

4155/v