All News about Iranian Economy – Looking at Iran’s economy on a macro scale, including the big decisions and policies that would shape the markets today and tomorrow.
Iran’s exports to China increased by 31% in the first half of the year 2022, with the trade volume between the two countries exceeding 8 billion dollars, according to the latest statistics published by China’s General Administration of Customs.
Demands are increasing from Chinese and Indian merchants to transport goods via northern Iranian ports which indicate the North-South transit corridor is up and coming, an Iranian official says.
Iran and Russia will definitely remove the dollar from their bilateral transactions, the Iranian minister of economy has confirmed, adding that talks are underway with other countries to continue the de-dollarization process.
The Chinese ambassador to Iran says the Islamic Republic can play a major role in Beijing’s Belt & Road initiative, a hundreds of billions of dollar project aimed at reviving the ancient Silk Road trade route.
World Steel Association declared in its latest report that steel production in Iran in June 2022 decreased by 10.5% compared to the same period in 2021.
Iran and Russia have prepared the ground to do away with the dollar in their bilateral trade and cushion their economies against ‘unjust’ US-speared Western embargoes, the governor of Iran’s Central Bank says.
Iran’s move to launch trading in the Iranian rial-Russian ruble in its foreign exchange market can further bolster its economic relations with Russia and diminish other foreign currencies’ role in the Iranian market, according to the governor of the Central Bank of Iran (CBI).
Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari says Iran has launched refineries in three countries for the purpose of making its oil operational.
Iran’s non-oil trade volume with permanent and observer member states of the Shanghai Cooperation Organization (SCO) has increased by 29 percent in the second quarter of 2022 compared to the same period last year, the spokesperson for Iran’s Customs Administration says.
Iran is implementing propelling plans to step up its petrochemical production capacity during the administration of President Ebrahim Raisi’s tenure by 54 percent, according to IRNA.
Iranian parliament speaker says the Islamic Republic has the capacity to increase its trade exchange with its neighboring countries to 216 billion dollars a year and sounded upbeat to hit the target despite sanctions.
Iran will obtain full membership of the Shanghai Cooperation Organization in September and will officially become the ninth member state of the alliance in 2023, according to the Islamic Republic’s Embassy in China.
The Italian foreign minister says Italian companies are willing to continue their business in Iran, voicing Rome’s readiness to further expand ties with Iran in various fields.
The governor of the Central Bank of Iran (CBI) says the Islamic Republic and Russia have explored ways, in recent talks, to eliminate the US dollar from their financial transactions in order to facilitate economic cooperation under sanctions.
Iran and Russia have reached an agreement on working to expand their financial and banking cooperation and remove the obstacles in the way of their ties under tough American sanctions.
Deputy Iranian Minister of Roads and Urban Development says an increase in the number of marine transportation fleet in the northern and southern waters is expected to lead to considerable rise in trade with neighboring countries.
