March 15, 2024
I ran’s non-oil exports have fallen dramatically this Persian year without explanation; non-oil exports were down 11 percent in the first 10 months of the current Persian year.
The government has sought to emphasize non-oil exports in recent years as a way to make up for the loss of oil exports due to US sanctions. But recent customs statistics show that exports to China in those 10 months were down a stunning 28 percent, while exports to Turkiye were down 33 percent, exports to Iraq were down 14 percent and exports to India were down 7 percent.
Of major trade partners, exports were up only to the UAE, where they rose 8 percent. Exports to the UAE are largely reexported to other countries. While non-oil exports were falling, non-oil imports were rising by 12 percent.
In that 10-month period ending January 20, Iran’s non-oil exports totaled $40.5 billion while its oil exports totaled $29.9 billion. Iran’s imports were up 12 percent, totaling $54.4 billion, so the country still ran a trade surplus, which is a major goal of the regime.
