Iran's Non-Oil Foreign Trade in 10 Month Tops $70b
Iran exported $35 billion and imported $35 billion worth of non-oil commodities during the 10-month period, registering an 8% and 3% growth year-on-year.
Iran’s non-oil foreign trade during the 10 months of the current Iranian year (started March 20, 2016) stood at $70.252 billion, indicating a 5.8% increase compared with the corresponding period of last year.
According to the latest report by the Islamic Republic of Iran Customs Administration, Iran exported $35.270 billion worth of non-oil commodities during the period, registering an 8.37% rise year-on-year. Gas condensates were Iran's main exported commodity ($6.026 billion), making up for 17.08% of the total non-oil export figure. They were followed by natural liquefied gases ($1.952 billion), light crude oil, excluding gasoline ($1.345 billion), petroleum gases and liquefied hydrocarbons ($1.068 billion) and liquefied propane ($990 million). China was the main customer of Iranian products in the 10-month period as Iran exported $6.543 billion worth of non-oil goods to the Asian country, 9.53% more compared with last year's similar period. Other major export destinations included the UAE with $5.665 billion, Iraq with $5.390 billion, Turkey with $2.817 billion and South Korea with $2.567 billion worth of Iranian goods imported.
The country imported $34.982 billion worth of goods during the period, up 3.21% year-on-year. The figures point to a $288 million surplus in Iran's international trade in the 10 months to January 19, 2017. The imported commodities mainly included field corn ($1.161 billion), soybean ($774 million), auto parts ($666 million), motor vehicles with engine displacement of 1,500-2,000cc ($626 million), and motor vehicles with engine displacement of 2,000-2,500cc ($536 million). Major exporters to Iran included China ($8.403 billion = 24%), the UAE ($5.488 billion / 16%), South Korea ($2.786 billion / 8%), Turkey ($2.193 billion / 6%) and Germany ($1.962 billion / 6%). Imports from China, the UAE, South Korea and Turkey fell by 1.27%, 11.47%, 8.74% and 10.99% respectively. However, imports from Germany experienced a 36.39% rise year-on-year.