Iran’s non-oil foreign trade in the first two months of the current Iranian year (March 20-May 20, 2016) reached $12.356 billion. According to the Islamic Republic of Iran Customs Administration, exports stood at $6.859 billion, registering a 14.68% decline compared with last year’s corresponding period. Exports mainly included gas condensates ($1.088 billion), petroleum gases and liquefied hydrocarbons ($272 million), ferrous products and non-alloy steel ($247 million), liquefied propane ($237 million) and bitumen ($201 million). China (23%), the UAE (17%), Iraq (14%), South Korea (8%) and India (7%) were the top export destinations.
Imports stood at $5.497 billion, which indicates a 13.54% drop over last year’s similar period. The main imports during the two-month period included corn for cattle feed ($180 million), soybean ($133 million), soymeal ($129 million), automobile parts, excluding tire ($116 million), and rice ($104 million). China (21%), the UAE (18%), Russia (8%), Turkey (7%), South Korea (6%), Germany (5%) and India (5%) were the top exporting countries to Iran during the period.