Iran imports

Intermediate goods account for lion’s share of Iran imports

From the total trade volume in the first two fiscal months (March 21-May 21) of fiscal 2021-22, 70.9% belonged to intermediate goods, 15.2% to consumer goods and 13.8% to capital goods, according to Director General of Trade Promotion Organization of Iran Hamid Zadboom.

Trade

Iran cuts $5.4bn worth of imports by boosting local manufacturing

Figures by Iran’s ministry of industries (MIMT) shows that a campaign to launch local manufacturing for imported goods and machinery helped cut the government’s imports bill by around $5.4 billion in the 18 months to late March.

Mine and Industry

Iran to increase cosmetics import duties in 2021

The government has envisioned a 15% rise in customs duties on the import of cosmetics as per the budget bill for the next fiscal year (March 2021-22).

Trade

Iran exports down nearly a quarter in 7 months due to pandemic

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.

Trade

Iran to use cryptocurrencies to fund imports, bypass US sanctions

The Iranian government has amended its regulations on cryptocuurencies to allow them be exclusively used for funding imports at a time of increased pressure on the country’s normal use of hard currencies.

Financial Markets

Iran’s import ban list reaches 2,400 items

The Iranian government has added 800 items to the list of banned imports since last fiscal year (started March 21, 2019), which bring the total number of banned imported commodities to 2,400.

Trade

Iran banana imports stand at $113 million in four months

A total of 173,062 tons of bananas worth $113.68 million were imported into Iran during the first four months of the current Iranian year (March 20-July 21).

Trade

Iran to ban rice imports from August 22

Imports of rice will be banned in Iran from August 22 based on a seasonal plan in support of domestic production.The ban usually lasts until November.

Agriculture and Environment

Imam Khomeini Port handles 9.3 million tons of goods in 3 months

A total of 9.3 million tons of goods were loaded and unloaded in the southern Imam Khomeini Port during the first three months of the current Iranian year (March 20-June 20). Over 7 million tons of the total sum pertained to non-oil goods.

Trade

Iran trade deficit at $1.5bn in 11 months to February

Iran’s trade balance has slipped into a deficit of $1.5 billion in the 11-month period ending late February as imports surge by more than two percent.

Trade