Iran's service export hits $12.5B

Head of Iran's Business Development Organization Valiollah Afkhami said that in the last Iranian fiscal year (which ended March 20), the country’s engineering service, tourism, and transit export hit $12.5 billion.

“Add that to non oil goods’ export and we will have a total of $62 billion,” he said, IRIB news agency reported April 12.

He hoped that in the current Iranian fiscal year, non-oil export will grow by 25 percent to reach $65 billion.

“I hope that the entire diplomatic measures, especially regarding banking sanctions, would help trade development. Right now monetary transactions are carried out outside the banking system, which comes at extra costs,” he stated.

If political actions yield results, we will make changes to some of the countries where we export to and some of the countries from which we import, Afkhami said, adding that imports from developed countries will grow.

Iran and the P5+1 (the US, UK, France, Russia, China, and Germany) are holding talks on the Islamic Republic’s nuclear program.

The sides have agreed to come to a comprehensive deal by July 1. Iran maintains that any deal would require the lifting on all sanctions on its economy.

“Our export priorities include 16 neighbor countries, Iraq and Afghanistan in particular. And of course China will have its special place. It seems that this year as well, China will be the top partner for exporters and importers,” Afkhami stated.

Iran’s trade turnover during the previous Iranian fiscal year (which ended March 20) surpassed $150 billion.