News ID: 115925
Published: 0652 GMT April 18, 2015

Iran's annual non-oil exports rise 19%

Iran's annual non-oil exports rise 19%

Iran's non-oil exports, including gas condensates, reached $50 billion in the year to March 20, 2015, showing a growth of 19 percent compared to the figure for the previous year, said the head of Iran's Trade Promotion Organization.

Valiollah Afkhami-Rad added that export of services also stood at almost $13 billion during this period.

Underlining the need to raise the export of services, he said that Iran can develop services in the technical, transit, tourism and engineering fields.

He noted that one of the hurdles facing exports of technical and engineering services is the issuance of bail bonds, adding that talks have been conducted with the Central Bank of Iran to overcome the obstacles.

During the one-year period, Iran's import stood at $52.5 billion, Afkhami-Rad added.

Speaking on the deficit in trade balance, he said that although the figure stood at -2.5 billion dollar, the amount showed a 65.92 increase compared to the figure for the preceding year.

One of the steps which should be taken to advance business atmosphere is to reduce 14 tariff classification of the previous year to six in 2017, he noted.

"Increasing trend in non-oil exports has been achieved through support for Iranian-made products and higher tariffs on a number of goods," he said underlining the need to shore up domestic products.

Given that Trade Minister Mohammadreza Nematzadeh has named the year to March 2016 as the year for non-oil exports, Afkhami-Rad hoped that non-oil exports will be increased by raising productive capacities.

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