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Iran’s Q1 Automotive Imports Bill Nearly Reach $1 Billion

Iran’s Q1 Automotive Imports Bill Nearly Reach $1 Billion

Iran’s automotive import bill for the first quarter of the current fiscal which started on March 21 has been published, with the total value of the imported parts standing at $779 million and 7,043 cars worth $198.9 million entering Iran.

According to statistics released by the Islamic Republic of Iran Customs Administration, in terms of value, auto parts have a 6.93% share of all commodities entering the country, topping Iran’s import bill.

The auto parts imports during the three-month period came to $779 million against $447 million a year earlier, indicating a 73% year-on-year rise.

Following auto parts are corn feed ($435 million), semi-milled or wholly milled rice ($374 million) and soybean ($372 million) as the goods making up the major imports of the country. The total value of all imports in the first quarter stands at $11.2 billion.