News ID: 152271
Published: 0702 GMT May 29, 2016

Iran to boost non-oil exports to $50b: Minister

Iran to boost non-oil exports to $50b: Minister

Minister of Industries, Mines, and Trade Mohammadreza Nematzadeh said Iran plans to increase its annual non-oil exports to $50 billion by mid-March 2017.

According to Shana, the minister said that in line with the objectives of the Resistance Economy, the government is planning to increase non-oil exports by $10 billion to reach $50 billion be mid-March 2017.

Highlighting the importance of developing exports and foreign trade based on the policies of the Resistance Economy, he said that several measures such as the maximum use of local capacities and a boost in domestic production have been envisaged as among the policies to achieve the goals.

Last year, Iran exported goods worth $42.415 billion while its imports reached $41.499 billion, showing a 16.11 percent decline in the value of exports and a 22.53 percent fall in the value of imports compared to the figures for the year before.

In recent years, Iran has stepped up efforts to enhance non-oil exports and reduce its dependence on oil revenues.

There has also been a growth in the export of services particularly in the tourism, engineering and transit sectors.

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