Iran’s trade in September quarter at $30.6bn, up 9.4% y/y

EghtesadOnline: Figures released by the House of Industry, Mine and Trade on Monday showed that Iran’s trade with other countries had reached a total of $30.6 billion in the three months to September 21, up 9.4% compared to the same period last year.

Exports from Iran reached $12.3 billion in the September quarter, up 6.2% year on year, while imports into the country rose by 11.6% over the same period to reach $18.3 billion, showed the figures.

The data showed that exports from Iran had peaked in August when shipments rose by 18% compared to the same month last year to reach $4.47 billion while imports also rose by 21.6% over the same month to reach $6.4 billion.

Exports dropped by 7.1% year on year in September to $3.9 billion while imports rose 12% to $6.3 billion over the same month, the data showed.

Iran’s trade deficit widened to $6 billion in the September quarter mainly because of a significant increase in imports of gold and car.

Iran’s growing trade with the rest of the world over the summer months came as the country was grappling with a series of geopolitical tensions, including its regional confrontation with Israeli, over that period.

Many had expected a decline in Iran’s trade after the country fired a barrage of missiles on Israel in mid-April to respond to the regime’s attacks on its consulate in Syria earlier that month. / Mehr