Iran’s Non-Oil Exports Rise 19 Percent in 7 Months

Iran’s non-oil exports in the first 7 months of the current Iranian year (March 21, 2014- October 22, 2014) increased 19 percent compared with the corresponding period in the last year.
Deputy Industry, Mines and Trade Minister Valiollah Afkhami said on Wednesday that the value of non-oil exports in the first seven months of the current year increased by 19% and amounted to over $27 billion.

He also said that during the same period 55 million tons of commodities were exported, each ton worth $438 and exports are expected to reach $48 billion by the yearend.

Afkhami said the figure was 30% less than the export target, adding that efforts should be made to develop the country’s exports.

Earlier this year, Iranian Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh announced that the country plans to further increase its non-oil exports.

Iran plans to augment exports of its non-oil commodities to $50bln by the end of the current Iranian year (will end March 20, 2015), Nematzadeh said, addressing a ceremony for inauguration of an investment project in Tehran.

Iran’s major exported items during the past quarter comprised liquefied propane, methanol and bitumen and the main export destinations, in descending order, were China, Iraq, the UAE, Afghanistan and Turkey.

The country’s major imports in the past three months included wheat, vehicles with Internal combustion engines, rice and soy oil cake, which mainly came from the UAE, China, India, Turkey and South Korea.