News ID: 205093
Published: 0346 GMT November 27, 2017

Iran eight-month foreign trade tops $60b

Iran eight-month foreign trade tops $60b

Iran's non-oil foreign trade during the eight months from March 21 to November 21 reached $60.9 billion, indicating a growth of eight percent compared to $56.4 billion for the corresponding period last year.

Imports reached $32.42 billion, registering a 17.52 percent increase year-on-year, Tasnim News Agency reported, citing the latest report by the Islamic Republic of Iran Customs Administration.

The main import items were rice ($1 billion), corn ($980 million), auto parts ($972 million), soybean ($669 million) and vehicles of engine displacement between 1500cc and 2000cc ($643 million).

Iran also exported non-oil commodities valued at $28.5 billion during the period showing a decline of 1.21 percent compared to the figure for the same period last year.

The main export commodities were gas condensates ($4.59 billion), followed by liquefied propane ($897 million), light crude oil excluding gasoline ($764 million), methanol ($752 million) and polyethylene ($750 million).

China was the main customer of Iranian products during the eight-month period, as Iran exported goods worth $5.748 billion to the Asian country. Other major export destinations were Iraq with $4.351 billion, the UAE ($3.893 billion), South Korea ($2.747 billion) and Afghanistan ($1.849 million).

Major exporters to Iran were China ($7.951 billion), the UAE ($5.749 billion), Turkey ($2.221 billion), South Korea ($1.844 billion) and Germany ($1.792 billion).

The above figures indicate that while China remains Iran's biggest trade partner, as it has been over the past many years, other major countries with which the Islamic Republic conducts commercial exchanges are still the same that traded with the country after international sanctions were imposed.

The sanctions imposed against Iran over its nuclear program began to roll back as of January 2016 as part of a landmark deal Tehran signed with world powers in July 2015.

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