Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
Iran has imported $25 billion worth of products in the first 7 months of the current local calendar year (March 21- October 22) which indicates a 5% fall in comparison with figures from the last year.
New statistics released by Iran’s Customs Administration (IRICA). $25 billion worth of products have been imported into Iran in the first 7 month of the current Iranian calendar. showing a 5.31 percent decline as compared to the same period of last year.
In this regard. 79.005 tons of non-oil products. valued at about $24.5 billion. was exported from the country. registering a 17 percent hike in terms of weight as compared to last year’s corresponding period.
Also. 19.800.000 tons of products. valued at about $25 billion. was imported into the country. showing a three percent hike in terms of weight and also 5.31 percent decline in terms of value.
In the same period. most Iranian products were exported to China. Iraq. United Arab Emirates. Turkey. Afghanistan.
Early in last month. Iranian Minister of Industry. Mine and Trade Reza Rahmani said that his country is planning to further decline the volume of imports by 2021. in a move to increase national economy’s resistance to US-posed pressures.
Speaking at a specialized meeting. held at the venue of the Ministry of Industry. Rahmani said that Iran’s imports volume will decrease to $10 billion by 2021.
With the coordination made. Iran’s import of products to decline $10 billion by 2021. he added.
“Materializing the said objective requires $2 billion worth of investment.“ he highlighted.
Of total $10 billion. $1.2 billion. $500 million and $2.7 billion will be saved in textile-apparel. cellulose and chemical industries respectively.
Rahmani hailed efforts taken by the Central Bank of Iran (CBI) for the provision of liquidity needed for industries especially in the six months of the current year.
He further pointed to the provision of liquidity as the most important concern of production boom in the country and said. “With the coordination made in this regard. giant steps have been taken in this regard in order to settle the problem.“
Late in September. CBI Governor Abdolnasser Hemmati announced that his country’s national currency the rial has regained over 40 percent of its value. to Washington’s disappointment as the US is trying to damage Tehran’s economy with unilateral sanctions.
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.
Earlier in September. 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. 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).
