The United States and Iran have reached an understanding about how to unblock billions of dollar worth of Iranian funds that have remained inaccessible in two banks in South Korea because of US sanctions, according to a new report.
Iran’s industry ministry (MIMT) figures show vehicle output in the country rose by 6% in the first half of the year that began in late March compared with the same period in 2021.
Iran saw its aluminum output increase by 25% in the five months to August 22, a new sign that government efforts to boost activity in the Iranian metals and mining sector have paid off.
Iran has reported a major increase in exports of cement clinker in the five months to late August although figures show that overseas shipments of finished cement dropped slightly over the same period.
Iranian customs office (IRICA) figures show trade between the country and the rest of the world exceeded the $50 billion mark at the end of the first half of the current fiscal year in late September.
Figures by the Iranian industries ministry (MIMT) show the country’s manufacturing sector expanded by 5.1% in the five calendar months to August 22 compared with the same period last year.
Figures by global oil and gas supermajor BP (British Petroleum) show that Iran managed to increase its oil production by a significant amount last year despite US sanctions targeting the country’s crude oil exports.
The Iranian customs office (IRICA) says mining exports was so lucrative over the calendar year to late March that it beat government expectations and became a major source of earning hard currency for the country.
Iran’s largest car manufacturer the IKCO has unveiled its first all-electric car for a commercial launch in March 2023.
Bilateral trade between Iran and China reached over $11 billion in the eight months to August, according to figures by China’s General Administration of Customs (GAC) reported in the Iranian media.