The Iranian customs office IRICA says exports declined by nearly a fourth in the seven months ending late October as closures meant to curb the spread of the coronavirus pandemic hit the country’s non-oil trade.
IRICA chief Mehdi Mir Ashrafi said on Sunday that the value of exports from Iran between March 20 and October 21, 2020 had totaled $18.2 billion, down 23 percent compared to the similar period in 2019.
Mir Ashrafi said the decline in exports was 17.5 percent in volume terms year on year in October, adding that a total of 65.5 million metric tons of goods had been shipped to other countries in the first seven months of the current calendar year.
Imports into Iran reached 19.3 million tons worth over $20 billion, the IRICA chief said, adding that nearly 14 million tons of cargoes that Iran took delivery of were basic goods, including food and medicine.
The decline in exports comes as Iran has struggled to maintain trade relations with major partners despite the spread of the pandemic both in the Middle East and around the world.
Authorities believe exports will rebound in the five months to the end of the fiscal year in late March 2021 as countries gradually open their borders to allow trade to boom.
Iran’s main export detonations in the seven months to late October included Iraq with $4.8 billion worth of shipments, followed by China at $4.4 billion and the United Arab Emirates at $2.2 billion, said Mir Ashrafi.
The official added that China topped the list of main exporters to Iran with $5.1 billion worth of cargoes, adding that the UAE and Turkey came second and third with $4.7 billion and $2.2 billion, respectively.