Iranian exports volume of non-oil products shows 13 pct growth

28 December 2018 16:45 (UTC+04:00)

By Abdul Kerimkhanov

The volume of exports of non-oil products from Iran in March-November increased by 13 percent compared to the same period last year, Hamid Zadbum, deputy head of the Iranian Trade Facilitation Organization for the Development of the Export Market, said in the city of Hamadan in western Iran.

"Many exporters have focused on 13 neighboring countries since the beginning of the Iranian year," he added.

Zadbum said that the Minister of Industry, Mines and Commerce also prepared a plan for this, adding that the best way to avoid U.S. repressive sanctions is to increase non-oil exports.

Regarding exports to Iraq, he said that Iran's exports to this country in March-November 2018 amounted to $6.4 billion, and this year it increased to $6.7 billion.

Zadbum also noted that in addition to neighboring countries, the main export markets of Iran are China, India, Indonesia, Vietnam and Thailand.

Iran's exports to China in March-November 2018, amounted to $ 20 billion, and the trade balance between the two countries during this period amounted to $ 6 billion in favor of Iran.

Despite unilateral U.S. sanctions against Iran, the export of Iranian oil and non-oil products continues.

Iraq, China, Afghanistan and India are the most important buyers of Iranian goods.

Iran has managed to increase non-oil exports by almost 15 times for 30 years. Almost a third of non-oil sector exports are products of the petrochemical industry. It certainly works to create a balanced economy, to reduce dependence on crude oil exports.

If Iranian exports in recent years have become clearly reoriented to the Asian market, Iranian imports are focused mainly on European countries. The largest weight in Iranian imports is occupied by Germany, France, and Italy; in recent years, imports from China, Korea, India, as well as small European countries — Switzerland, Sweden, Austria, and Belgium — have increased.

The share of imports from the United Arab Emirates, through which mainly European and American products come to Iran, increased to almost 20 percent. Thus, the sanctions adopted by the UN Security Council to restrict imports to Iran to a greater extent affect the interests of European countries. The interests of the Asian countries are mainly related to energy supplies from Iran.

---

Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

Follow us on Twitter @AzerNewsAz