News ID: 263152
Published: 0332 GMT December 18, 2019

Official: Iran’s non-oil exports up despite US sanctions

Official: Iran’s non-oil exports up despite US sanctions

Economic Desk

Iran has exported non-oil products valued at $28 billion since March 2019 to witness a year-on-year growth in this regard despite Washington’s unilateral sanctions against Tehran, said a deputy head of the country’s Trade Promotion Organization (TPO).

The value of the country’s overseas sales of non-oil goods in this period has been higher than last year’s figure, added Farhad Norouzi, TPO’s deputy head for exports of goods and services, in an address to a ceremony in the northern Iranian province of Golestan on Wednesday, IRNA reported. 

At present, he said, 75 percent of Iran’s non-oil exports are destined for China, Iraq, the UAE, Turkey, and Afghanistan.

“We are required to increase the diversity of our products and raise the number of our export destinations to at least 20 countries.”

Norouzi said Eurasian countries are good potential markets for Iranian products, adding investment in this filed will help Iran create more added value and boost employment.

Commenting on the problem facing Iranian exporters for transferring their money to the country, he ensured that the Central Bank of Iran (CBI) and the Iranian National Tax Administration (INTA) are working out a solution to the issue as it is quite resolvable.

In September 2018, the CBI stressed the necessity of supporting the country’s production and export sectors and issued a directive obliging Iranian exporters to give a commitment to injecting their foreign currency revenues into the domestic economy.

Speaking at the same ceremony, Hadi Haqshenas, the governor general of Golestan Province, praised Iran’s resistance against US economic sanctions.

Expanding trade relations with Eurasian states provides Iran with a good opportunity to boost its foreign trade, as, according to a preferential trade agreement Tehran has signed with them, the tariff these countries impose on certain Iranian products is close to zero, Haqshenas said.

He added Golestan Province can use this unique opportunity to increase its exports to these countries thanks to its proximity to them.

“Processing products, particularly those produced in the domestic agricultural sector, is among the ways to enter these countries’ markets.”

He also noted that in the budget bill the Iranian government has drafted for next year, a fund has been allocated to the construction of the Incheboron-Shahroud railroad in northern Iran.

Hossein Tolooiyan, the head of Golestan Province’s Trade Promotion Organization, in his address, said the province’s products are exported to 33 countries in Asia, Europe, Americas, and Africa.

He put at 66 the number of export-oriented production units in the province.

In the year to March 2019, Tolooiyan said, products worth $294 million were exported form the province to 31 countries.


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