Iran Exports Register Monthly Trade Surplus

Exports have been posting strong growth since Dec. 22, the start of winter, and have kept up the upward trend to narrow monthly trade deficit from $2 billion in Azar (Nov. 22-Dec. 21) to a trade surplus of $1.22 billion in Bahman. 

Monthly exports rose by 26% to reach $3.97 billion in the Iranian month of Dey (Dec. 22-Jan. 20) compared to the previous month. 

Iran’s non-oil foreign trade during the 11 months to Feb. 19 stood at $89.34 billion, indicating a 16.17% rise compared to last year’s corresponding period, according to Financial Tribune.

Exports hit 117.95 million tons worth $41.69 billion, indicating a 4.96% decline in value year-on-year.

Imports amounted to 33.93 million tons worth $47.65 billion, up 23.61% in value YOY. 

Gas condensates ($6.33 billion), liquefied natural gas ($2.5 billion), liquefied propane ($1.33 billion), methanol ($1.07 million) and light crude oil, excluding gasoline ($1.06 billion), were the main exported commodities. Exports of commodities other than the aforementioned items rose by 14.4% YOY to reach $21.13 million.

Imports mainly included auto parts ($1.57 billion), field corn ($1.43 billion), rice ($1.26 billion), soybean ($838 million) and vehicles of engine displacement between 1500 cc and 2000 cc, except for ambulance and hybrid cars ($739 million).

China was the main customer of Iranian products during the 11-month period, as Iran exported $8.22 billion worth of goods to the Asian country, 11.29% more than the corresponding period of last year.  

Other major export destinations included the UAE ($5.86 billion), Iraq ($5.57 billion), Turkey ($3.87 billion) and South Korea ($3.79 billion). 

Exports to South Korea and Turkey rose by 41.8% and 30.71% respectively compared to the last year, but the UAE imported 14.9% less goods from Iran YOY.

Major exporters to Iran included China ($11. 53 billion), the UAE ($8.75 billion), South Korea ($3.29 billion), Turkey ($2.86 billion) and Germany ($2.64 billion).