From March to August, Iran's non-oil exports fell by 8.5%

According to data from Iran's customs agency (IRICA), exports from the country decreased by 8.5% in the five months leading up to August 22 due to a drop in petrochemicals' worldwide pricing.

Iran (IMNA) - Data released by IRICA on Tuesday indicates that Iran's non-oil exports totaled $19.3 billion from March to August.

According to the data, volume terms for exports increased by 26.56% throughout that time.

According to IRICA, China was the largest consumer of Iranian export goods in the five months leading up to late August, with purchases totaling $5.6 billion. Iraq came in second with $3.5 billion in purchases, and the United Arab Emirates came in third with $2.3 billion. Together with Turkey and India, these three countries accounted for nearly 75% of all purchases.

A report by the official IRNA shows that the value of Iranian shipments between March and August fell when compared with the same time last year due to dropping international petrochemical product prices, which make up a sizable portion of Iran's non-oil exports.

Based on IRICA data, Iran's imports increased by 7.49% year over year in the five months leading up to late August, totaling $24.2 billion.

According to the report, the UAE exported goods worth $7.3 billion to Iran during that time, followed by China ($7.1 billion) and Turkey ($2.5 billion).

As reported by IRICA, from March through August, imports from Germany and India totaled $879 million and $813 million, respectively.

Despite obstacles brought on by US sanctions, Iran has maintained significant trading links with the rest of the globe in recent years.

According to IRICA data, Iran's exports in the year ending in late March exceeded $53 billion, a record that had stood for several decades.

News ID 683888


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