Iran’s non-oil exports up 19% y/y in Apr-Feb: IRICA
Iranian customs office (IRICA) figures show that the country’s non-oil exports rose by nearly a fifth in the 11 months to late February.
IRICA figures released on Saturday showed that Iran had exported some $53.376 billion worth of non-oil goods and commodities in the 11 months to February 18, up 19% compared to the previous same period.
The figures showed that exports had also increased by 12.6% in volume terms in April-February to reach 141 million metric tons (mt).
Petrochemicals accounted for more than 40% of Iran’s non-oil exports in the 11 months to late February as shipments reached $23.5 billion, an increase of 31.5% from the same period in 2023-2024, showed the customs figures.
Natural gas was Iran’s top export revenue earner in the April-February period with some $6.6 billion worth of sales, followed by liquefied propane at $3.3 billion and methanol at $2.1 billion, the figures showed.
IRICA said imports into Iran had reached $63.606 billion in the 11 months to late February, up 5.6% from the previous same period.
It said, however, that import shipments had dropped by 5.6% in volume terms year on year over the same period to reach 35 million mt.
Iran’s total foreign trade rose by 11.2% and 9.2% in value and volume terms, respectively, in the 11 months to late February compared to the previous same period, the Iranian customs office said.
Iran has seen a major growth in its non-oil exports in recent years despite US sanctions that target the country’s access to international banking and shipping services.
The country has adopted policies to encourage more activity in its agriculture, mining, and manufacturing sectors in recent years, leading to increased exports and higher levels of hard currency revenues for the country.
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