Complex Made Simple

Iran’s non-oil exports increase by 28 per cent

'The country plans to augment exports of its non-oil commodities to $50bn by March 20, 2015'

Iran’s non-oil exports have surged by 28 per cent since the Persian new year (March 21), Fars News Agency (FNA) reports.

“The value of non-oil exports since the start of the current year has increased by more than 28 per cent, when compared with the same period last year. Non-oil export revenues, minus gas condensates, were approximately $18 billion this year,” says Hassan Tajour, director-general of the Renovation and Administrative Reforms Department of the Trade Development Organization.

The official says that $15bn of the revenues were gained from exports to Asian states. Roughly $5bn from the non-oil exports revenues were from tourism in the current Iranian year showing 32 per cent growth when compared with the corresponding period last year, he adds.

However, a report by the Customs Administration puts the value of Iran’s non-oil exports at more than $27bn in the seven months of the current year, going on to reveal that 55 million tonnes of commodities have been exported during the same period.

Technical engineering, tourism, workforce and transit services constitute the main parts of Iran’s non-oil exports, 93 per cent of which were destined for Asian countries, notes Tajour.

Meanwhile, imports in the past seven months of the current Iranian year rose by 32 per cent, reaching $21.695bn.

The UAE is the main exporter of goods to Iran in the period and a total of 40 per cent of the imports were from the Gulf states, Tajour adds.

According to the Iranian Minister of Industry, Mine and Trade, Mohammad Reza Nematzadeh, the country plans to augment exports of its non-oil commodities to $50bn by the end of the current Iranian year on March 20, 2015