Iran's Home Appliance Market Abounds With Contraband

EghtesadOnline: One-third of all home appliances in the Iranian market is smuggled, an official with the Ministry of Industries, Mining and Trade said.

News ID: ۷۷۲۹۱۵

05 January 2017

According to Abbas Hashemi, $485 million worth of home appliances were legally imported to Iran while exports stood at $170 million during the eight months to November 20.

“Smuggled home appliances meet 30-40% of the domestic demand,” he was quoted as saying by Mehr News Agency.

The home appliances market in Iran is worth 200 trillion rials (over $4.95 billion at market exchange rate), Financial Tribune reported.

Domestic production accounts for only a quarter of this amount and the rest is dominated by foreign brands, according to the Association of Household Appliances Industries of Iran.