Iran’s trade balance remains negative for 8th straight month

By  Trend

Iran’s non-oil trade turnover increased by 8 percent to $60.907 billion during the first eight months of the current fiscal year (started March 20, 2017), meanwhile the trade balance was negative and accounted to $3.9 billion.

Iran's non-oil exports, including gas condensate, reached $28.488 billion during the 8-month period.

The figure indicates a fall by 1.21 percent, compared to the same period of the preceding year, Iran's Customs Administration said in a statement on November 27.

Iran includes gas condensate and some raw hydrocarbon products, like propane, butane, etc. in its non-oil export basket.

The volume of the exported goods had reached 78.812 million tons in the 8-month period.

During the period, the country exported $4.586 billion worth of condensates.

Liquefied propane (worth $897 million), light oils and products (excluding gasoline) - (worth $764 million), methanol (worth $752 million) and film grade polyethylene (worth $750 million) were the other top exported goods in the 8-month period (March 20-Nov. 22).

The average price for each ton of Iran's non-oil goods in the mentioned period was around $363, indicating a rise of 8.04 percent, year on year.

China was the main importer of the Iranian goods during the 8-month period. Iran’s non-oil exports to China registered a rise by 13.51 percent and stood at $5.784 billion.

Iraq ($4.351 billion, increase of 6.51 percent), the United Arab Emirates ($3.893 billion, fall of 18.7 percent), South Korea ($2.747 billion, an increase of 28.12 percent) and Afghanistan ($1.849 billion, rise of 12.11 percent) were other top importers of Iranian non-oil goods during the first eight months of current Iranian fiscal year.