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A report by the PBO published showed that exports had topped $44.310 billion in the 12-month period. an increase of 5.9 percent compared to the figures recorded in March 2013 when Tehran was suffering from harsher sanctions.
It said refined products derived from oil and condensates accounted for less than half of the value of the exports. around $19 billion.
The report said Iran’s total imports in the period stood at $42.612 billion. down from nearly $50 billion in 2013.
The PBO said it was the first time in five years that Iran could post a trade surplus of around $2 billion. mainly thanks to a significant increase in exports of products totally unrelated to the oil industry.
The figures come amid a surge in Iran’s exports of products like food. fuel and construction materials to neighboring countries.
On Tuesday. Iran’s Ministry of Transportation announced that ports North and South of the country have registered a 1.9 percent increase in loading and unloading operations in the past 6 months. indicating a steady flow of trade despite the US unilateral sanctions against the country.
Washington’s unilateral sanctions against Tehran began in November 2018. five months after US President Donald Trump withdrew from an international deal on Iran’s nuclear program.
Claiming that the bans were working properly. Trump tightened them in May. only to see that Iran was finding new solutions to recoup the losses.
Last month. Deputy Head of Iran Small Industries and Industrial Parks Organization (ISIPO) Ali Asqar Masaheb announced that Iran will undertake new measures to further strengthen its non-oil exports with a new bill to be tabled at the Iranian Parliament.
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).
