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Iran’s trade balance stood at $1.7bn last year

Iran’s trade balance stood at $1.7bn last year

TEHRAN: Head of Iran’s Customs Administration noted the country’s positive trade balance last year, which stood at $1.7 billion, adding that non-oil exports hit $44.3 billion while imports reached $42.6 billion in 2018.

Head of the Islamic Republic of Iran Customs Administration (IRICA), Mehdi Mirashrafi, made the remark during his visit to Maragheh Customs in East Azerbaijan Province on Tuesday.

He said the country’s exports experienced a 5.6% decrease last year (ended 20 Mar. 2019) compared to its previous year, mostly due to sanctions.

Iran’s imports also declined by 21.7 during 2018-19, due to a ban on the import of luxury goods.

He maintained that the non-oil exports through Maragheh Customs have been active since 1996, adding that last year, $27 million worth of goods was exported from this county.

The main exported goods via Maragheh Customs last year included mirrors, sodium carbonate, ammonium sulfate, steel products and agricultural products.

The goods were exported to Iraq, Turkey, Georgia, Afghanistan, Armenia, Azerbaijan, Bulgaria, Italy, Spain, Greece, Pakistan, Romania, Turkmenistan, Cyprus and Kazakhstan, he added.

We are willing to establish a special customs on the site of the activities of larger companies, which will reduce the costs and damage to the goods, the official maintained.