Asia accounts for 92 percent of Iran’s exports, 74 percent of imports

The Iranian Customs Administration released a report, indicating that Iran's imports significantly fell in the first two months of the current Iranian calendar year (March 21-May 21), while exports declined by 1.8 percent.
The 208-page report says imports fell by 32.47 percent to $5.692 billion, compared with the same period in the previous year, which amounted to $8.430 billion in imports.
Non-oil exports (including condensates) were $445 million more than imports in the mentioned period. In other words, non-oil exports surpassed imports for the first time.
First positive trade balance
However, if gas condensates (kinds of light crude oil which are produced from gas fields) are omitted from non-oil exports, Iran's trade balance will be minus $794 million. Exports of gas condensates fell by 11 percent and reached $1.239 billion in the two-month period.
Nine of ten most important Iranian exported goods were oil products, so that petrochemical exports hit $1.717 billion, showing a 4.3 percent rise compared to the same period of last year. In other words, gas condensates and oil products accounted for 48.2 percent of Iran's total non-oil exports.
Asia, Iran's main trading partner
According to the report, some 91 percent of the non-oil exports of Iran were destined to Asia. Meanwhile, non-oil exports to Europe and America declined by 15 percent and 65 percent, respectively.
Exports to Africa, rose by 63 percent, accounting for 4.4 percent of Iran's non-oil exports.
Exports to China and India rose by 49 percent ($1.124 billion) and 31.5 percent ($328 million), respectively. The exports to China and India in the second calendar month have reportedly increased by 114 percent and 105 percent respectively.
Main imported agricultural products
Exports of India to Iran have tripled in the second Iranian calendar month. Six of ten main imported goods were agricultural products. Iran imported $359 million worth of rice in the mentioned 2-month period, which is a 159 percent increase year on year.
Soy meal imports reached $328 million, up 162 percent, while wheat imports declined by 31 percent and hit $293 million. Meanwhile, Iranian officials have declared that 600,000 tons of wheat have been imported from Europe just in the previous month (Third month of current solar year).
In the two-month period, Asia and Europe accounted for 73.5 percent and 25 percent of Iran's total imports, respectively, showing 30.5 percent and 37.5 percent fall.
Moreover, car exports notably fall year on year, so that just 1006 cars were exported in the first two months of the year, compared with 6600 cars in the previous year. Iran imported 3580 cars, worth $93 million in the same period. The value of each imported car was on average 3.34 times more than exported car.

Comments

Post a Comment

Popular posts from this blog

Iran in fighting with Caspian Sea pollution

Image
Iran, with its largest population on the Caspian Sea shore among other littoral countries, is keen to save the world's biggest inland body of water from pollution and has initiated a "Comprehensive plan to reduce pollution" plan. The Fars News Agency quoted the head of Department of Environment Mohammad-Javad Mohammadzadeh as saying that the plan targets preventing entry of pollutants, including household waste, especially in Gorgan and Mazandaran provinces, to the Caspian. Meanwhile, Abdolreza Karbasi, the deputy head of Environmental Protection of Iran alarmed about the ecological state of beaches, releasing warning to swimmers in the Caspian Sea. "The pollution at some parts of the sea has exceeded the authorized limit by 100 times," he said. Iranian coastal population is around 6 million people, including residents in the regions en route the rivers that flow to the Caspian, whose household waste waters enter the sea without passing through wa
Read more

U.S. Sanctions Slow Iran’s Electricity Generation And Trading

Image
By  Dalga Khatinoglu The peak electricity demand in Iran and its neighbor clients Afghanistan and Iraq happens in warm months, but during this period last year Islamic Republic’s exports plunged due to high demand at home. Its electricity imports from Armenia and especially Turkmenistan have been declining dramatically since September. This is possibly due to U.S. banking sanctions, which restrict Iran’s ability to pay its bills. During international sanctions prior to the nuclear deal (2011-2016), Iran was also unable to pay for Turkmen gas and electricity imports, running up $2bn in debts. Iran’s electricity trade during last and the previous fiscal years (GWh/month): ​ Power Generation Iran increased nominal power generation capacity by 2.3% last year; less than half of projected growth, but its actual electricity generation increased by only 1% to 312 TWh, a fifth of projected plan. The growth rate for actual power generation is far below nominal capacity, because
Read more

Iran Launches Uncompleted Gas Project Citing Suspiciously High Production

Iran’s Oil Ministry officially opened four new phases of the South Pars gas field March 17, citing production and investment figures that don’t add up. The nominal production capacity of the newly opened phases 13, 22, 23 and 24 is 113 million cubic meters per day (mcm/d), but currently they are producing about half of that. The processing units of these phases are also operating at half capacity most probably due to Iran’s technical limitations compounded by sanctions. Phase 13 is projected to produce 56 mcm of natural gas and 75,000 barrels of gas condensate (ultra-light oil) per day, when it becomes fully operational. The capacity of phases 22-24 are together equal to phase 13. The Oil Ministry said all phases will be operating at full capacity within one year. According to Oil Ministry’s statement, some $10 billion were invested in the mentioned four phases, but ministry officials put the figure at $11 billion during the inauguration ceremony, which President Hassan Rouhani
Read more