Page 24 - IRANRptOct21

5.1.2 Import/export dynamics
Iran’s non-oil foreign trade grows 47% y/y to $45bn in 1H of Persian calendar year
Iran’s non-oil exports rise 48% to $6.3bn in first two months of Persian year
Iran’s non-oil foreign trade was valued at $45bn in the first half of the Persian calendar year (March 21-September 22), marking growth of 47% y/y, according to the head of the Islamic Republic of Iran Customs Administration (IRICA).
Exports amounted to $21.8bn, up 61% y/y, Mehdi Mirashrafi added.
Iran’s main export destinations were China ($6.5bn), Iraq ($3.8bn), Turkey ($2.3bn), the UAE ($2.2bn) and Afghanistan ($1bn).
The top non-oil exports were liquefied natural gas (LNG), methanol, polyethylene, semi-finished iron products, iron ingots, propane, urea, iron bars and cathodes.
Iran’s non-oil exports reached a value of $6.3bn in the first two months of the current Persian year (started March 21), marking a 48% y/y gain, IRIB has reported, quoting the head of the Islamic Republic of Iran Customs Administration (IRICA).
Imports valued at $6.5bn entered the country in the same period, recording a 26.5% y/y rise, according to the data provided by customs chief Mehdi Mir-Ashrafi.
The impact of coronavirus crisis restrictions on trade in the early months of the 2020/2021 Persian year, which created a low base, can be seen in the data. Iran was one of the first countries outside of China to declare that it was experiencing a severe coronavirus outbreak.
A top five of countries accounted for 73% of Iran’s non-oil exports in terms of value. They were China at $2bn of exports, Iraq at $953mn, the United Arab Emirates (UAE) at $849mn, Turkey at $388mn and Afghanistan at $365mn. For imports, the top five were the UAE, which shipped goods worth $1.8bn, China at $1.5bn, Turkey at $642mn, Germany at $285mn and Switzerland at $283mn.
Iran’s exported non-oil commodities included gasoline, polyethylene, methanol, iron and steel ingots and steel products, according to Mehdi Mir-Ashrafi. Mobile phones, corn, sunflower oil, meal, wheat, soybeans, rice, barley, sugar and crude soybean oil were the most imported items during the two-month period. These 10 items accounted for 33% of the total value of imports. Mir-Ashrafi also noted that over 1.842mn tonnes of goods were transited through Iran in the said period, registering a 142% y/y increase.
24 IRAN Country Report October 2021 www.intellinews.com