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Reassuring that Iranian authorities seek to increase inventories to cope with the impacts of US sanctions. Hemmati said on Thursday that imports registered at Iran’s ports since the start of the current local calendar year in March had increased by 69 percent compared to the corresponding five-month period in 2018.
Iran’s chief banker said that the surge was mainly due to the fact that there was more coordination between the CBI and Iran’s agriculture and commerce ministries when it comes earmarking foreign currencies to the importers.
The official. who visited customs yards at Imam Khomeini Port Southwest of Iran earlier in the day. said current port inventory figures. around three million tons of stocks. were almost double those that existed last year and before the United States imposed its sanctions on Iran.
He said there was no concern about the imports of the basics like animal feeds which are highly needed in Iran`s agriculture sector.
The surge in Iran’s import of basic goods come as the country has faced problems in normal trade with traditional partners mainly due to the American sanctions that have restricted the ability of businesses to access banking services and obtain required guarantees.
The sanctions which began in November and toughened in May led to an unprecedented depreciation in the value of Iran’s national currency rial. That caused the CBI and other government departments to directly interfere in imports and exports to prevent profiteering from rents created between official and unofficial prices of foreign currencies.
Last Monday. it was announced that Some $12.2 million worth of commodities were exported from Iran`s Northwestern border crossing of Sarakhs in the first quarter of the current local calendar year (March 21-June 21). which indicated a 280% growth in comparison with the corresponding period in the year before.
Omid Jahankhah. the supervisor of Northeastern province of Khorasan Razavi’s customs office. announced on July 29 that the export of commodities from Sarakhs customs office have also grown 334% in term of weight during the three-month period.
Cement. glass. plastic products. tomato paste. biscuit. marble stone and cosmetics were the main Iranian items which were exported to Uzbekistan. Turkmenistan and Kyrgyzstan through Sarakhs customs office. he said.
Iranian officials started planning for policies to counter the US possible sanctions a year before Donald Trump entered into office in early 2017. The policies are now proving effective as economic indexes are indicating inefficacy of the US pressures.
Earlier in July. Iranian Industry Minister Reza Rahmani said that despite US efforts to cripple Tehran’s economy. year-on-year comparison shows that the country’s domestic production has increased in the first quarter of the local calendar year (March 21-June 21).
“US sanctions were imposed to hamper production in Iran. however. we are proud to announce that after 14 months of sanctions the area has grown one percent in the first three months of the present Iranian year (started on March 21) in comparison with the corresponding period in last year.` Rahmani said in Iran’s Northeastern province of North Khorasan.
`We did not let production decrease and that is a victory despite the difficulties we had under sanctions.` he added.
The minister underlined that the government seeks to increase exports under the current conditions and called for providing the ground for investors.
Heading a delegation. the Iranian President paid a one-day visit to North Khorasan in line with the government’s provincial tours and inaugurated a number of projects in the Northeastern province.
Echoing a similar sense of economic progress. earlier on July 14. Director General of Port and Maritime Organization of Hormuzgan province Allah Morad Afifipour announced that Iran’s first quarter non-oil exports from the Southern port of Shahid Rajaei have increased by 10 percent compared with corresponding period in the last year.
An increasing trend has been reported from other Iranian customs gates for the same 3-month period.
Also. on July 14. Head of Markazi Customs Administration Esmaeil Hosseini said that more than 225 million worth of non-oil commodities have been exported from the central Iranian province of Markazi in the first three months of the current local calendar year. which shows a year-on-year increase by 4%.
More than 381.479 tons of non-oil commodities have been exported from Markazi province in the 3-month period. Hosseini said.
He added that the figures show a 4% growth in terms of value and a 12% decline in terms of tonnage compared with the similar period in last year.
On July 13. the Customs Department in Iran’s Southeastern port city of Chabahar announced that the office has witnessed a 38% rise in its collections in the first 3 months of the current local calendar year. compared with the corresponding period in 2018.
