Iran’s imports of essential goods up 63% YOY

Iran has imported some 18.8 million tons worth $11.5 billion worth of essential goods in a nearly seven month period (March 22 – November 1) which shows a 63% rise in value terms in comparison to the corresponding period of the preceding year, according to a report by Iran Customs Administration (IRICA).

14 November 2021
ID : 33248
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Iran has imported some 18.8 million tons worth $11.5 billion worth of essential goods in a nearly seven month period (March 22 – November 1) which shows a 63% rise in value terms in comparison to the corresponding period of the preceding year, according to a report by Iran Customs Administration (IRICA).

Iran’s northern port of Bandar Anzali is a hub of trade between Iran and the Eurasian countries. (Photo: ISNA)

Iran has imported some 18.8 million tons worth $11.5 billion worth of essential goods in a nearly seven month period (March 22 – November 1) which shows a 63% rise in value terms in comparison to the corresponding period of the preceding year, according to a report by Iran Customs Administration (IRICA).

The figure also posted a 29% increase in terms of tonnage when compared to figures from last year’s corresponding period.

The lion’s share of the imports – $9.1 billion equivalent to 79.1% of the total imports – were made with subsidized foreign currency.

3.6 million tons worth $1.2 billion of wheat, 5.5 million tons worth $1.9 billion of corn, 2.2 million tons worth $656.6 million of barley, 1.7 million tons worth $1.2 billion of oil seeds, 1.7 million tons worth $952.1 million of soybean meal, 1.3 million tons worth $1.8 billion of vegetable oil, and 12,500 tons worth $1.3 billion of medicine and medical equipment were among the commodities which were imported with subsidized foreign currency during the mentioned period.

The Government Trading Corporation (GTC) of Iran says wheat imports into the country would reach record levels in the calendar year to March amid a sharp fall in domestic crop which has been caused by drought as well as by price issues.

GTC chief Yazdan Seyf said on November 3 that Iran had imported around three million metric tons of wheat since the start of the calendar year in late March.

Seyf added that Iran would need to import another five million tons of wheat until the end of the current calendar year to ensure supplies would be enough to meet domestic demand.

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