Iran's non-oil foreign trade during the first month of the current fiscal year (March 21-April 20) stood at $4.881 billion. Compared with statistics provided by the Islamic Republic of Iran Customs Administration, foreign trade indicates a 14% decrease compared with the same month of last year. The country recorded a non-oil trade surplus of $213 million for the month. Exports hit $2.547 billion during the month to April 20 to register a 18% decline in value year-on-year. Imports amounted to $2.334 billion, down 8% in value over last year’s corresponding period, IRICA data show.
Main Destinations, Exported Commodities
Iran’s top export destinations were China with $711 million (-2%), Iraq with $389 million (-1%), South Korea with $250 million (+24%), the UAE with $231 million (-58%) and Afghanistan with $140 million (-18%) during the period under review. By “non-oil”, IRICA refers to all commodities, except crude oil. Therefore, oil-driven products and byproducts, as well as petrochemical products, are still categorized as non-oil. IRICA categorizes non-oil exports into three groups: “petrochemicals”, “gas condensates” and “others”. Petrochemicals worth $881 million were exported last year, registering a decrease of 15% compared with the previous year; it accounted for 35% of Iran’s overall non-oil exports. Exports of gas condensates stood at $348 million in Farvardin, followed by “other light oils and their products, except gasoline” worth $147 million, liquefied propane worth $144 million, methanol worth $100 million and non-alloy semi-finished iron/steel products worth $90 million. Exports of non-oil products, including carpets, as well as agricultural, industrial and mining products, are classified within “others” group fell in the neighborhood of $1.318 billion in the month ending April 20, indicating a decline of 19% YOY. “Other items” accounted for 52% of Iran’s total exports.
Main Exporters to Iran, Imported Commodities
Major exporters to Iran during the first month of the current Iranian year were China, Turkey, the UAE, India and the Netherlands. Imports from China dropped by 30% to reach $434 million. This is while imports from Turkey jumped 160% in value to hit $346 million. The UAE’s exports to Iran increased 7% to stand at $338 million. Imports from India grew 213% in value to reach $323 million. The Netherlands’ exports to Iran surged 218% to reach $129 million. Imports from Germany dropped by 6% to reach $120 million . Iran’s imports over the one-month period mainly included rice ($196 million accounting for 8% of total imports), field corn worth $123 million, soybean oilcake worth $98 million, butter worth $91 million and soybeans worth $75 million.