Iran’s imports during the first 10 months of the current calendar year (starting March 21, 2011) have declined by 15 percent in weight and 5.7 percent in value as compared to the corresponding period last year, Deputy Economy Minister Abbas Memarnejad said in a press conference here on Sunday. From March 21st, 2011 to January 21st, 2012, Iran imported 50.3 billion dollars worth of commodities, with the largest portion mainly coming from the UAE, China, South Korea, Germany, and Turkey, Memarnejad told the reporters. Intermediary, capital, and consumer goods constituted 71 percent, 17 percent, and 21 percent, respectively, of the total imported commodities, he added.
“The implementation of Targeted Subsidy Reform Plan which led to a reduction in consumption of fuel products and grains along with the effective import management for unnecessary and luxury goods mainly accounted for a drop in the country’s imports,” Deputy Economy Minister pointed out.
Iran’s non-oil exports have also experienced a 31.5-percent growth in value and a 10-percent decrease in weight over the said period, Memarnejad said. The Islamic Republic, he continued, has exported 38.6 billion dollars worth of non-petroleum commodities, including the gas condensates, petrochemical products, and services over the first 10 months this year, with the largest portion mainly going to China, Iraq, the UAE, and India. The ratio of Iran’s non-oil exports to its imports has increased to 0.7 during the abovementioned period. The figure had amounted to 0.5 last year and 0.2 in the calendar year 1384 (2005-2006). The country’s non-oil trade balance, he added, has been reduced from minus 27 billion dollars last year to minus 15 on January 21, 2012. The Head of IRICA went on to point out that 8.2 million tons of goods have been transported during the first 10 months of the current year via the Iranian transit routes, up by 5 percent compared to the corresponding period a year earlier. Describing as ineffective the sanctions imposed against Iran, Memarnejad noted that during the above mentioned period the Islamic Republic has imported goods from 150 countries around the world while 162 countries have imported Iranian non-oil commodities and 103 countries have used Iran’s transit routes.