News ID: 207866
Published: 0420 GMT January 09, 2018

IRICA: Iran exported over $11b worth of metal products in four years

IRICA: Iran exported over $11b worth of metal products in four years

Domestic Economic Desk

Iran exported raw iron, steel, cast iron and their by-products valued at $11.12 billion during 2011-15, according to figures released by Islamic Republic of Iran Customs Administration (IRICA).

The weight of the exports stood at 14.21 million tons during the period, IRNA reported.

In 2014, export earnings stood at $2.8 billion — the highest in the four-year period, whereas, in 2011, their value failed to exceed $1.522 billion, which was the lowest in the same timespan.

Weight-wise, the exports of these metals and their by-products reached a four-year high of 4.32 million tons in 2015 and stood at the lowest figure of 1.58 million tons in 2011.

The value of the exports of iron, cast iron, steel and their by-products during 2013-2015 — when President Hassan Rouhani administration took office — exceeded $7.79 billion. In this duration, the weight of the overseas sales of these items was over 11.2 million tons.

Exports in the same three-year period accounted for 79 percent and 70 percent of the total overseas sales of the metal products weight- and value-wise, respectively.

In 2014, the weight of the exports witnessed a 50.8-percent growth compared to the figure for 2013.

In 2015, the year-on-year increase in the weight of the exports compared to the figure for 2014 stood at 12.4 percent.

In terms of value, the exports indicated a 24.9-percent growth in 2014, compared to 2013. However, the same growing trend failed to continue in 2015, as there was a 1.7-percent drop in the value of the exports compared to 2014.

Iran is the world's 14th biggest steel producer. As stipulated in Iran Vision 2025, the country is expected to increase its raw steel output capacity to 55 million tons to jump seven spots in the global ranking to No. seven.

The country's raw steel production capacity is expected to reach eight million tons by mid-March 2018.

Resource: IRNA
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