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).
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.
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.
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.
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).
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.
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.
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.
Authorities have imposed a temporary ban on imports of meat into Iran as the country faces an acute oversupply despite a growing wave of smuggling into neighboring countries.
A latest report by Iran’s Customs Administration shows how a drop in imports helped increase the country’s trade surplus in a 9-month period (April-December).