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Iran’s foreign trade up 5% (Mar-Aug 2017)

Iran’s foreign trade up 5% (Mar-Aug 2017)

TEHRAN: Iran’s non-oil foreign trade during the first five months of the current Iranian year (started March 21) stood at $36.63 billion, indicating a 5.34% rise compared with last year’s corresponding period. According to the latest report by the Islamic Republic of Iran Customs Administration, non-oil exports during the period hit 14.22 million tons worth $17.19 billion, indicating a 4.95% decline year-on-year. Non-oil imports amounted to 48.04 million tons worth $19.44 billion, up 16.49% YOY.

Petrochemicals ($6 billion), followed by gas condensates ($2.92 billion), polyethylene ($652 million), liquefied propane ($576 million), light crude oil excluding gasoline ($555 million) and methanol ($498 million) were the main exported commodities. Imports mainly included rice ($963 million), field corn ($612 million), vehicles of engine displacement between 1500 cc and 2000 cc ($515 million), auto parts ($434 million) and soybean ($410 million). China was the main customer of Iranian products during the period, as Iran exported $3.74 billion worth of goods to the Asian country. Other major export destinations included Iraq ($2.6 billion), the UAE ($2.58 billion), South Korea ($1.67 billion) and India ($1.19 billion). Major exporters to Iran included China ($4.25 billion), the UAE ($3.34 billion), South Korea ($1.34 billion), India ($1.26 billion) and Turkey ($1.13 billion).  The average price of each ton of exported goods stood at $358 and that of imported commodities hovered around $1,367.