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Iran has considerably increased its export of non-oil commodities in a period of 10 months, the country’s industry, mine and trade ministry announced.
Iran exported $20.3 billion worth of goods to the neighboring countries over the last 10 months of previous Iranian year (ended March 19, 2020), the ministry said.
It noted that the expansion of barter agreements has helped to boosting production, trade and also export.
The ministry said that the new Iranian year which has been named the year of “Surge in Production” by Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei have been followed by 40 projects in seven fields, adding that management of import and expansion of export has been envisaged in the context of five projects.
Iranian officials started planning for policies to counter the US possible sanctions a year before US President Donald Trump entered into office in early 2017. The policies are now proving effective as economic indexes are indicating inefficacy of the US pressures.
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 2019, only to see that Iran was finding new solutions to recoup the losses.
Early in July, Iranian Industry Minister Reza Rahmani said that despite US efforts to cripple Tehran’s economy, year-on-year comparison showed that the country’s domestic production increased in the first quarter of the local calendar year (March 21-June 21).
Early in January, Iranian Minister of Roads and Urban Development Mohammad Eslami said that the country’s exports have outpaced imports despite the harsh US sanctions.
Iran is the only state in the world without foreign debt as the country’s trade balance is now positive and exports have surpassed imports, Eslami said.
A great deal of development in the civil, water, electricity, gas and utility sectors have been made, and during the outrageous sanctions, the country has become a manufacturing workshop, he added.
