Iran Mineral Trade Surplus Rises to $3.5 Billion

EghtesadOnline: Iran's trade surplus of mineral products increased notably to reach $3.5 billion at the end of the first half of the current fiscal year on Sept. 22, the latest official data show.

News ID: ۷۴۶۱۱۲

16 October 2018

Iran exported about 30.07 million tons of mineral products worth $5.12 billion in the first six months of the current fiscal year (March 21-Sept. 22), down 9.6% in tonnage and up 9.5% in value compared with last fiscal year's corresponding period.

Imports stood at 1.93 million tons worth $1.65 billion, dropping 35.5% in tonnage and 35.1% in value year-on-year, according to the Iranian Mines and Mining Industries Development and Renovation Organization's latest report, which draws on the Islamic Republic of Iran Customs Administration's data.

IMIDRO's previous report showed Iran registered $2.95 billion in trade surplus during the first five months of the current fiscal year (March 21-Aug. 22), Financial Tribune reported.

Semi-finished and finished steel products took the lion’s share of exports in terms of value as 5.58 million tons worth about $2.53 billion were shipped overseas, up 20% and 53% YOY in volume and value respectively.

The category of ‘other mineral products’ was Iran's second biggest mineral export category value-wise with about 4.89 million tons worth about $794.64 million. The volume and value of shipments grew 25% and 32% respectively YOY.

Copper and downstream products came third with 217,728 tons worth about $482.03 million, down by 40% in tonnage and up by 33% in value YOY.

These were followed by 8.85 million tons of cement exports worth $315.41 million, up 9% in volume and 3% in value.

Other exported mineral commodities from Iran during the period included 6.72 million tons of iron ore worth $305.74 million, 3.08 million tons of stones worth $190.90 million, 141,023 tons of zinc worth $232.80 million, 65,950 tons of aluminum worth $125.19 million, 49,953 tons of lead worth $60.91 million, 300,773 tons of coal and coke worth $48.57 million, 28,462 tons of ferroalloy worth $45.28 million, 120,669 tons of chrome worth $25.50 million and 1,639 tons of molybdenum worth $17.97 million.

The report also listed pottery and bricks with 46,865 tons worth $6.33 million, antimony with 74 tons worth $137,501, titanium with 50 tons worth $168,577, precious metals with 0.2 tons worth $52,874, mica with 36 tons worth $54,000 and nickel with 11 tons worth $15,802.

Steel also had the largest share among Iran's imports of mineral commodities in terms of value, as 775,980 tons worth $715.37 million were imported, down 51% and 59% in tonnage and value respectively YOY.

"Other mineral products" was the second biggest category imported to Iran in the five months with 352,49 tons worth $305.56 million, down 35% in volume and 36% in value YOY.

Aluminum came next with 232,386 tons worth $194.83 million, down 36% in tonnage and up 19% in value YOY.

Other imported commodities included coal and coke with 306,983 tons worth $91.39 million, ferroalloys with 82,622 tons worth $104.59 million, titanium with 26,004 tons worth $78.54 million, pottery and bricks with 15,456 tons worth $54.12 million, zinc with 85,773 tons worth $43.35 million, stones with 25,212 tons worth $23.06 million, cement with 25,868 ton worth $19.12 million, copper and downstream products with 1,582 tons worth $12.62 million, nickel with 644 tons worth $10.41 million, chrome with 1,574 tons worth $3.16 million, antimony with 87 tons worth $762,568, precious metals with 2 tons worth $606,236, molybdenum with 9.3 tons worth $399,520 and mica with 197 tons worth $270,362.

Iran is home to 68 types of minerals with more than 37 billion tons of proven reserves and 57 billion tons of potential reserves.

According to the United States Geological Survey, Iran holds the world's largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite, and 10th largest uranium reserves. Overall, Iran is home to more than 7% of global mineral reserves.