News ID: 263419
Published: 0232 GMT December 24, 2019

Iran’s non-oil exports in eight months hit $27b: Official

Iran’s non-oil exports in eight months hit $27b: Official

Economic Desk

Iran has posted an “astonishing” record of $27 billion in non-oil exports in an eight-month period during the current Iranian calendar year (starting March 21), said the head of Trade Promotion Organization on Tuesday.

“Despite economic sanctions and hardship, exports totaled $27 billion while imports hit $28.3 billion in the first eight months of this year, which is astonishing,” TPO chief Hamid Zadboum said in remarks carried by Tasnim News Agency.

Zadboum, who is also a deputy minister of industry, mine and trade, said more than 70 percent of exporters have brought their earnings to the country.

“This volume of export is valuable when the currency obtained is returned to the country and it should be said that over 70% of exporters have brought in their revenues," he said.

The official urged all exporters to help Iran’s economy by injecting their export revenues into the country’s forex market.

He said the US sanctions regime was designed to prevent foreign currencies earned through exports from returning to Iran, but despite all problems, exporters should help the country's currency system.

Iran’s economy has been hit since the US pulled out of a 2015 nuclear deal and reimposed tough sanctions on the nation.

Iranian officials say the US has waged an economic war through its campaign of maximum pressure and that the sanctions are economic terrorism.   



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