News ID: 235194
Published: 0301 GMT December 03, 2018

Iran’s eight-month trade surplus at $2bn

Iran’s eight-month trade surplus at $2bn

Official figures showed Iran had a trade surplus of $2 billion over a period of eight months starting March 21, 2018 in what could be an indication that the country’s economy is still doing well in face of US sanctions.

Figures released by the Customs Department showed that Iran’s non-oil exports over the same period stood at $31.4 billion which was higher than the corresponding period last year by around 13 percent. The Customs Department announced in a statement that Iran’s imports also lowered by 12.5 percent to reach $29.5 billion, Press TV wrote on Monday.

Iran’s leading export item was condensate which fetched the country $2.7 billion. This accounted for around 9 percent of the country’s overall non-oil exports, the statement added.

Other key export items included liquefied propane ($1.3 billion), light oil products excluding gasoline ($1.1 billion) and methanol ($1 billion).

Figures showed that the majority of Iran’s non-oil exports were petrochemical products (33 percent).

As for the imports, the leading items were feed corn ($1.2 billion). Other key items included auto parts ($1.1 billion), rice ($1.1 billion), and soybeans ($0.9 billion).

The top export destination for Iran’s non-oil products was Iraq which imported $6.7 billion worth of products from the Islamic Republic over the period.

The Customs Department said in its statement that exports to Iraq saw a whopping rise of 66.5 percent compared to the same period last year.

Next key destinations for exports of Iranian products were China ($6.4 billion), the UAE ($5.9 billion) and Afghanistan ($2.2 billion).

Also, leading exports to Iran were China ($7.3 billion), the UAE ($4.4 billion), South Korea ($1.7 billion) and India ($1.6 billion).



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