Iran’s foreign trade target largely materialized

By  Trend

Iran’s annual target of $53 billion worth of non-oil exports for the last fiscal year has materialized by 79 percent during the first 11 months of the year (March 20, 2017-Feb. 20, 2018).

The latest official statistics indicate that Iran has exported $41.7 billion worth of non-oil goods (including gas condensates) during the first 11 months of the last fiscal year, which is equal to 86 percent of targeted figure for the period ($48.58 billion).

The Islamic Republic increased its export target by $3 billion for the last fiscal year (March 20, 2017-2018) to $53 billion, despite the fact that the country’s non-oil exports stood at $43.93 billion in the one-year period to March 2017.

Iran’s non-oil exports registered a rise by 4.7 percent in terms of value, year-on-year during the 11-month period, according to a report from the Islamic Republic’s Trade Promotion Organization (TPOI).

The volume of exports amounted to 117.96 million tons in the period, 0.81 percent more compared to the preceding year.

Iran’s non-oil trade balance during the 11-month period of last fiscal year witnessed a fall by 612 percent and became -5.967 billion, after experiencing a positive balance previous year.