Thursday, June 13, 2024

Value of Iran’s foreign trade up by 17% in first month of Persian year: Official data

Official figures show the volume of Iran’s foreign trade witnessed a 17-percent hike in the first month of the current Persian calendar year, with China and the United Arab Emirates (UAE) topping the list of the country’s trade partners.

Data released by the Iranian Customs Administration showed the value of non-oil export reached $3.6 billion in the first month of this year (started on March 21).

Meanwhile, the data indicated a 13-percent increase in the value of imports, which stood at $3.8 billion, compared to the same period last year.

China, Iraq, Turkey, the UAE and India were the five biggest buyers of energy from Iran, according to the figures.

In terms of non-oil trade, the UAE, China, Turkey, Germany and India were Iran’s largest partners.

The administration of President Ebrahim Raisi has been pursuing a ‘look-to-the-East’ policy to improve the country’s economic situation, which has taken a blow from the tough US sanctions.

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