From the fiscal 2011-12 to 2021-22, the general trend of real exports and imports of goods and services from/to Iran has been downward with the latter registering a more pronounced decline.
According to a new report released by the Economic Studies Department of Tehran Chamber of Commerce, Industries, Mines and Agriculture, the goods and services exports in the fiscal 2011-12 stood at 2,530,000 billion rials at the constant prices of fiscal 2016-17. The figure dropped to 2,220,000 billion rials in the fiscal 2021-22.
The average real annual growth of exports during the period stands at -29.1%.
The import of goods and services in the fiscal 2011-12 at constant prices of the fiscal 2016-17 was about 5,100,000 billion rials (almost twice the volume of exports in that year). It reached 1,280,000 rials (58% of exports) by the end of the period under review.
The average real annual growth of the imports was at -12.9%.
The intensification of sanctions, restrictions on access to forex and export resources, and the imposition of bans on the import of certain goods by the Iranian government played a significant role in shaping the country’s commercial landscape during the period.