Iran’s annual mineral exports at $7.6 billion

Iran’s export of mineral products in the last fiscal year (ended March 20, 2021) stood at 55 million tons worth $7.6 billion, latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.

3 May 2021
ID : 32859
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Iran’s export of mineral products in the last fiscal year (ended March 20, 2021) stood at 55 million tons worth $7.6 billion, latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.

The exports show a 21% and 11% decline in total volume and value year-on-year respectively.

According to IMIDRO, steel topped the list of exports in terms of value with $4.1 billion and was followed by copper with $958 million and cement with $758 million.

In terms of tonnage, cement had the largest share with 24.3 million tons, followed by steel with 9.69 million tons. 

Alumina powder exports saw the biggest jump in terms of value (335% YOY) to reach $1.8 million, followed by aluminum products with $321 million (up 177% YOY).

The sharpest fall in export value was recorded for pellet (down 93% YOY to reach $14.3 million) and iron ore in (down 89% YOY to reach $32.4 million).

In terms of tonnage, aluminum products posted the biggest growth (183% YOY) to reach 171,000 tons, followed by alumina powder (up 163% YOY to reach 880 tons) and zinc products (up 48% YOY to reach 209,000 tons).

Precious metals and minerals (such as gold and silver) had the sharpest decline in tonnage (down 97% YOY).

The IMIDRO report also shows the import of mineral products stood at 4.15 million tons worth $3.4 billion during the same period. The imports show a 13% increase in total volume and a 6% growth in value compared with the same period of the year before.

Steel also topped the list of mineral imports in terms of value with $1.3 billion. It was followed by coal and coke with $300 million worth of imports and aluminum products with $290 million.

In terms of tonnage, steel topped the list with 1.217 million tons, followed by coal and coke with 1.21 million tons, alumina powder with 314,000 tons and aluminum products with 168,000 tons. 

The value of steel products imports saw the biggest jump (39% YOY) to reach $1.37 million. 

Iran’s mineral reserves currently stand at 60 billion tons, more than half of which are proven. It is home to 68 types of minerals. 

According to the United States Geological Survey, Iran holds the world's largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite, and 10th largest uranium reserves. 

Overall, Iran is home to more than 7% of global mineral reserves.

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