Iran Mineral Trade Surplus Rises to $3.8b (Mar-Oct 2018)

EghtesadOnline: Iran's trade surplus of mineral products increased to $3.8 billion at the end of the seventh month of the current fiscal year on Oct. 22, the latest official data show.

News ID: ۷۴۶۲۱۶

13 November 2018

Iran exported about 34.98 million tons of mineral products worth over $5.81 billion during the first seven months of the current fiscal year (March 21-Oct. 22), down 9% in tonnage and up 6% in value compared with last fiscal year's corresponding period.

Imports stood at 2.31 million tons worth $2.01 billion, dropping 34% in tonnage and 27% 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.

The country recorded about $3.79 billion in mineral trade surplus for the period, according to Financial Tribune.

IMIDRO's previous report showed Iran registered about $3.5 billion in trade surplus for the first half of the current fiscal year (March 21-Sept. 22).

Semi-finished and finished steel products took the lion’s share of exports in terms of value, as about 5.86 million tons worth about $2.78 billion were shipped overseas, up 22% and 56% YOY in volume and value respectively.

The category of "other mineral products" was Iran's second biggest exported mineral product value-wise with about 5.72 million tons worth about $923.13 million. The volume and value of shipments grew 16% and 21% respectively YOY.

Copper and downstream products came third with 223,098 tons worth about $492.30 million, down by 47% in tonnage and up by 16% in value YOY.

These were followed by cement with about 9.78 million tons of exports valued at about $342.90 million, up 5% in volume and down 3% in value.

Other exported mineral commodities from Iran during the period included iron ore with 3.42 million tons worth $257.57 million, stones with 3.54 million tons worth $214.46 million, zinc with 87,117 tons worth $171.82 million, aluminum with 67,487 tons worth $132.35 million, lead with 68,184 tons worth $82.28 million, coal and coke with 372,697 tons worth $59.23 million.

These were followed by ferroalloy with 32,909 tons worth $52.30 million, chrome with 167,239 tons worth $32.63 million, molybdenum with 1,781 tons worth $19.48 million, pottery and bricks with 51,384 tons worth $7.12 million, antimony with 74.3 tons worth $137,501, titanium with 58.4 tons worth $191,007, precious metals with 0.4 tons worth $79,125, mica with 52 tons worth $55,942 and nickel with 10.6 tons worth $15,802.

As for imports, steel also had the largest share among Iran's mineral imports during the period in terms of value, as 925,870 tons worth $863.327 million were imported, down 49% and 35% in tonnage and value respectively YOY.

The category of "other mineral products" came second with 393,645 tons worth $3622.17 million, down 36% in volume and 25% in value YOY.

Aluminum came next with 68,976 tons worth $128.463 million, down 53% in tonnage and 26% in value YOY.

Other imported commodities included coal and coke with 399,182 tons worth $120.27 million, ferroalloys with 89,909 tons worth $114.005 million, titanium with 31,748 tons worth $95.411 million, pottery and bricks with 20,348 tons worth $71.28 million, zinc with 85,567 tons worth $25.66 million and stones with 29,917 tons worth $28.07 million and cement with 30,372 ton worth $22.38 million.

The list of mineral imports included copper and downstream products with 1,687 tons worth $13.71 million, nickel with 799.6 tons worth $13.17 million, chrome with 2,255 tons worth $4.67 million, antimony with 87.1 tons worth $762,568, precious metals with 2 tons worth $607,446, molybdenum with 19.2 tons worth $758,520 and mica with 306.8 tons worth $348,679.

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.