H1 Exports From Hormozgan Ports Jump 61% to $7.6 Billion

EghtesadOnline: Atotal of 21.6 million tons of commodities worth $7.65 billion were exported from ports located in the southern Hormozgan Province during the first half of the current Iranian year (March 21-Sept. 22), registering a 21% and 61% growth in weight and value respectively compared with the similar period of last year.

News ID: ۷۸۷۲۲۳

30 October 2021

“About 16 million tons of the exports worth $5.86 billion were non-oil commodities, registering a respective rise of 16% and 47% in tonnage and value year-on-year,” Abolfazl Akbarpour, a local official, was quoted as saying by Fars News Agency.

The main export destinations were the UAE, China, Thailand, India, Oman and Ghana.

Iron ore and concentrates, ethylene polymers and chemical and mineral fertilizers accounted for the lion’s share of the exports.

Imports stood at 4 million tons worth $9.9 billion during the same period, registering a 73% rise in value compared with the corresponding period of last year, the official said, adding that China, India, the UAE, Italy, Germany were the main exporters.

Over 2.4 million tons of the imports were essential goods, he added.

Also known as necessity goods, essential goods are products consumers will buy, regardless of changes in income levels.

Iran’s total non-oil foreign trade stood at 79.1 million tons worth $45 billion from March 21 to Sept. 22, registering a 47% growth in value compared with the similar period of last year, according to the head of the Islamic Republic of Iran Customs Administration.

Iran’s exports stood at 60 million tons worth $21.8 billion over the six-month period, showing a 30% and 61% rise in weight and value respectively year-on-year, Mehdi Mirashrafi was also quoted as saying by Iribnews.ir.

Imports during the six months under review amounted to 19.1 million tons worth $23.14 billion, registering a 15% and 37% rise in tonnage and volume respectively compared with the corresponding period of last year.

“From the total imports, more than 14.3 million tons worth $8.8 billion were essential goods. The tonnage accounts for 75% of the total sum,” he added.

Most Advanced Container Port

Shahid Rajaee and Shaid Bahonar are Hormozgan’s most prominent ports. Other ports located in this southern province are Shahid Haqani, Hormuz, Tiab, Sirik and Jask.

Shahid Rajaee Special Economic Zone, located in the southern Hormozgan Province, accounts for the highest share of all goods exported from and imported to Iran.

The economic zone, which has a loading/unloading capacity of 100 million tons per year, accounts for over half of Iran's trade and about two-thirds of total freight transit through the country.

The lion’s share of Iran's containers is handled in Shahid Rajaee Port Complex.

With 18 gantry cranes and 40 berths, Rajaee is the most advanced container port of Iran.

Launched in 1985, the port has expanded every year and is connected to 80 ports worldwide.

The significance of this port is in its location in the Persian Gulf and its large facilities, including container terminal, fuel bunkering, access to 24 kilometers of railroads and round-the-clock truck transportation.

In terms of transit, Shahid Rajaee Special Economic Zone tops the list of Iranian customs terminals.

Hormozgan Ports and Maritime Organization finalized investment contracts with one foreign and five local companies on Dec. 24 last year. The agreements worth 250 trillion rials ($909 million) aim to develop 2,400 hectares of hinterlands newly added to Shahid Rajaee Port and upgrade southern ports to ports of third generation.

The agreements include investment by Bama Company in establishing zinc, lead and manganese factories, Entekhab Industrial Group in building home appliance plants, Kayhan Port and Maritime Services Company in setting up several industries and Nahavand Arman Company in establishing a refinery.

A Chinese company will also invest in establishing a container manufacturing plant.

The Ports and Maritime Organization also finalized a memorandum of understanding with Bank Melli Iran Brokerage Company to provide financial guarantees for these projects, the ministry’s news portal News.mrud.ir reported.

“Investment projects in Shahid Rjaee Port will create 20,000 jobs and their duration must not exceed three years,” former minister of roads and urban development, Mohammad Eslami, said.

“Increasing the capacity of Iranian ports to 280 million tons was the main approach pursued by the ministry and PMO over the past 40 years. As per development plans, their capacity must reach 500 million tons in five years.”