News ID: 235636
Published: 0358 GMT December 11, 2018

Iran's non-oil exports reach over $31b in eight months

Iran's non-oil exports reach over $31b in eight months

Iran's non-oil exports in the eight months from March 21 exceeded $31 billion, said a senior Iranian trade official.

Mohammadreza Modoudi, the head of Iran's Trade Promotion Organization, told IRIB that the total value of non-oil exports during the eight months stood at $31.5 billion, showing a 13-percent increase compared to the figure for the same period last year.

"During this period, we imported goods valued at $29 billion," he said, adding that, therefore, the balance of trade — the difference between the monetary value of exports and imports — amounts to about $2 billion.

The trade official further said that petrochemicals, gas condensates and other industrial, consumer and agricultural commodities were the top export items from Iran.

Iran has stepped up efforts in recent years to enhance non-oil exports and cut dependence on oil revenues.

The rise in the country's exports comes despite the US sanctions.

US President Donald Trump walked away from the 2015 nuclear deal between Iran and world powers in May and re-imposed sanctions on the Islamic Republic.

Following the US exit from the nuclear deal, Iran and the remaining parties launched talks to save the accord.

On August 6, Trump signed an executive order reimposing many sanctions on Iran, three months after pulling out of the Iran nuclear deal.

He said the US policy is to exert 'maximum economic pressure' on the country.

The second round of US sanctions against the Islamic Republic went into effect on November 4.

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