Iran’s Trade Records 48% Increase in 1st Month of Year
“The country's foreign trade (total exports and imports), including crude oil, gas condensate, technical engineering and electricity services, increased by 47.63% to $10,420,000 in the month of Farvardin this year (March 19-April 20, 2024),” IRICA said in a report recently published.
“Of the total exports and imports of the country, $7,680,000,000 were exports and $2,740,000,000 imports,” the report added.
According to IRICA, the country's trade balance, including crude oil, gas condensate, technical engineering and electricity services, in Farvardin compared to the same period last year, was positive by $4,940,000,000.
“The exports of crude oil, mazut and gas condensate in Farvardin this year was $4,180,000,00,” added the report, while saying, “The value of the country's exports in Farvardin this year shows a 16.85% decrease compared to the same period last year.”
“During this period (the first Iranian month), 9,700,000 tons of goods were exported to other countries, indicating a decrease of 9.66% compared to the same period last year.”
“The main destinations for Iran's exported goods in Farvardin this year were China, Iraq, the United Arab Emirates, Turkey, Pakistan, Afghanistan and Oman, respectively and these seven countries accounted for 78% of the total weight and 83% of the total value of the country's exports,” the IRICA report continued.
“The exports of petrochemical products was 3.3 million tons worth $1,400,000,000, showing a decrease of 25.7% in weight and 24% in value,” compared to last year’s Farvardin, it further said.
Among the 10 major data-x-items of exported goods, petroleum gases and liquefied gaseous hydrocarbons, urea and iron and steel bars witnessed the largest increase while liquefied natural gas, iron and steel ingots and liquefied butane gas saw the largest decrease in value, the IRICA figures showed.
The IRICA statistics further showed that the imports of goods into the country in Farvardin of this year of 1403 in the Iranian calendar, 2,400,000 tons of goods worth $2,700,000,000 were imported into the country, showing a 33.38 increase in weight and 11% decrease in value.
Cow corn ($353 million), soybean ($181 million) and smartphones ($106 million) were the three main data-x-items imported into Iran in this year’s Farvardin, IRICA also said.
The first seven exporters to Iran were the United Arab Emirates, China, Turkey, the Netherlands, Germany, India and Hong Kong which accounted for 72% of the total weight and 78% of the total value of the country's imports, the IRICA figures further showed.
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