Financial Tribune

Official report puts Iran’s Q1 Underemployment at 8.3%

Underemployment, the condition in which people in a labor force are employed for less than 44 hours of service per week, stood at 8.3% in the first quarter of the current Iranian year (March 21-June 21), according to the Statistical Center of Iran (SCI).

Macro Economy

Iran-China H1 trade hits $7.5 billion

Iran’s commercial exchanges with its leading trade partner, China, reached $7.53 billion during the first half of 2023, registering an 8.1% decrease compared with the corresponding period of the year before.

Trade

Iran’s Q1 tire output crosses 6 million

Iranian domestic tire manufacturing companies produced 65,353 tons of tires in the first quarter of the current fiscal year (March 21-June 21), IRNA reported.

Macro Economy

Iran’s three-month Agrifood Exports Reach $1.3 billion

Iran exported 2.07 million tons of agricultural and food products worth $1.3 billion during the first quarter of the current Iranian year (March 21-June 21), new data released by the Agriculture Ministry show.

Agriculture and Environment

Iran’s two-month livestock feed imports rise 20% YOY

A total of 1.87 million tons of different kinds of livestock feed worth $887 million were imported to Iran during the first two months of the current calendar year (March 21-May 21), according to the Islamic Republic of Iran Customs Administration.

Agriculture and Environment

Iran puts seasonal ban on rice imports

The Agriculture Ministry has banned rice imports until further notice, saying the measure is aimed at giving support to local farmers and balancing supply and demand in the market, deputy agriculture minister, Shapour Alaei, announced.

Agriculture and Environment

Iran produces 70% of Middle East’s crude steel

Iran’s production of crude steel accounted for 70% of Middle East’s total output during the first five months of 2023, latest data released by the World Steel Association indicate.

Mine and Industry

Iran plans to increase gasoline, diesel production by 15% in five years

Plans are underway in the refining industry to increase the daily production of petroleum products so that about 130 million liters per day of gasoline and diesel each will be produced by March 2027.

Energy

Iran’s last year exports of caviar hit 5.5 tons

Atotal of 18.5 tons of farmed caviar and 4,600 tons of sturgeon meat were produced in Iran in the fiscal 2022-23 (ended March 20), according to an official of Iran Fisheries Organization.

Agriculture and Environment

Mokran region to become Iran’s 3rd petrochem hub

Attempts are underway to start the export of products by petrochemical companies based in Mokran Petrochemical Town in Chabahar County, Sistan-Baluchetan Province, to international markets within a year, according to a person with the knowledge of the matter.

Mine and Industry