Irans Non-Oil Trade in the last year hits $ 88b
Iran’s non-oil trade during the the last Iranian year 1395 (ended March 20, 2017) amounted to $87.614 billion, that is not even 5% more than in the year before.
According to the latest report by the Islamic Republic of Iran Customs Administration, Iran exported $43.930 billion worth of non-oil commodities in the year 1395, registering a 3.54% rise compared to the corresponding period of the previous year. Gas condensates were Iran’s main exported commodity ($7.320 billion), making up for 17% of the total non-oil export figure. This was followed by light oil and oil products, excluding gasoline ($2.479 billion), natural liquefied hydrocarbons ($2.079 billion) and liquefied propane ($1.222 billion) and petroleum gases, liquefied hydrocarbons (1.204). China was the main customer of Iranian products, as Iran exported $8.377 billion worth of non-oil goods to the Asian country during the period. Other major export destinations included the UAE with $7.436 billion, Iraq with $6.111 billion, Turkey with $3.244 billion and South Korea with $2.877 billion worth of Iranian goods. Iran's non-oil exports to China, the United Arabic Emirates, Iraq and the Korean Republic changed by 9.1, 2.8, -1.8 and -3.5 per cent, respectively.
In return, the country imported $43.684 billion worth of goods – up 5.16% year-on-year. The imported commodities mainly included feed corn ($1.413 billion), soybean ($909 million), motor vehicles with engine displacement of 1,500-2,000cc ($893 million), auto parts for the production of automobiles ($782 million) and rice worth $690 million. Major exporters to Iran included China ($10.753 billion), the UAE ($6.407 billion), South Korea ($3.460 billion), Turkey ($2.738 billion) and Germany ($2.537 billion). Iran's imports from China, the UAE, South Korea, Turkey and Germany changed by 2.6, -17.5, 6.0, -8.4 and 39.2 percent respectively.