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Half of Iran’s ‘Non-Oil’ Exports Petroleum-Based

Half of Iran’s ‘Non-Oil’ Exports Petroleum-Based

Tehran : some 50% of Iran’s “non-oil” exports actually consist of petroleum-based products and petrochemicals that either directly or indirectly come from the oil industry.

Latest statistics provided by the Islamic Republic of Iran Customs Administration shows overall “non-oil” exports hit 105.9 million tons worth $40.07 billion during the 11 months to Feb. 19 to register a 6.36% decrease in weight and a 0.74% decline in value year-on-year.

Countries plan their trade based on their economic advantages. Therefore, foreign trade mirrors economy. They seek to export items they are capable of producing at the lowest end-price in order to compete with other countries.

Except for China, which exports almost everything thanks to its cheap labor force and production, each country is known for the product it exports, IRNA wrote.