Iran's exports fell 8% year over year to $15.9 billion in March–July: IRICA

According to data from the Iran's customs office (IRICA), exports from the country decreased by 8% in the four months leading up to July 22 when compared to the same period previous year.

Iran (IMNA) - Iran's exports reached a total of $15.906 billion in March–July, down 7.97% from the same period in 2022, according to IRICA data released on Saturday.

The data revealed that for the four months leading up to late July, Iranian export shipments had increased in volume terms year over year by 28.56%, reaching a total of $45.758 million metric tons (mt).

In accordance with IRICA, the majority of the cargoes exported from Iran in March–July were made up of petroleum products. Sales of liquefied petroleum gas generated $1.633 billion in income during that time, followed by sales of liquefied propane at $1.14 billion and liquefied butane at $0.823 billion.

Based on customs data, China continued to be the biggest buyer of Iranian export goods for the first four months of the Iranian calendar year, spending around $4.644 billion on purchases. Iraq came in second place, spending $2.927 billion, while Turkey came in third, spending over $2 billion.

According to IRICA, imports into Iran increased from March to July by 10.82% in terms of value and 6.18% in terms of volume, totaling $19.539 billion in 11.842 million mt.

In the four months leading up to late July, the main imported goods into Iran were soybeans ($0.647 billion), mobile phones ($0.7 billion), and corn ($1.29 billion) used as animal feed.

The United Arab Emirates, the biggest re-exporting hub in the Persian Gulf, exported $5.818 billion worth of commodities to Iran in the four months leading up to late July, followed by China with $5.558 billion and Turkey with $2.09 billion.

News ID 678114


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