News Column

Oil Minister: Iran's Non-Oil Exports to Rise by $5bln This Year

August 12, 2014

TEHRAN (FNA)- Iranian Oil Minister Bijan Namdar Zanganeh announced that the country's non-oil exports will witness an eye-catching growth in the current Iranian year (started March 21, 2014).

"Iran's non-oil exports will witness, at least, a $5 billion rise in the current year as compared with the last year," the oil minister told reporters on Tuesday. The Iranian oil minister noted that the country's non-oil export will rise by at least  $14 billion in next Iranian year (starts March 21, 2015). Zanganeh said that the output of the petrochemical industries will also increase between 10 to 12 percent next year. Last month, Iranian Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh announced that the country plans to further increase its non-oil exports. Iran plans to augment exports of its non-oil commodities to $50bln by the end of the current Iranian year (ending March 20), Nematzadeh said, addressing a ceremony for inauguration of an investment project in Tehran. Iran exported approximately $11.859bln of non-oil commodities in the second 3 months of 2014, the Islamic Republic of Iran Customs Administration (IRICA) said earlier this month. According to the IRICA data, Iran's non-oil exports reached $11.859bln in the aforesaid three months, compared with $9.838bln in the same period last year, showing nearly 20.5 percent increase. The country's year-on-year imports also had a 35.6 percent growth in the past quarter, reaching $12.386bln from $9.133bln the same period last year. Iran's major exported items during the past quarter comprised liquefied propane, methanol and bitumen and the main export destinations, in descending order, were China, Iraq, the UAE, Afghanistan and Turkey. The country's major imports in the past three months included wheat, vehicles with Internal combustion engines, rice and soy oil cake, which mainly came from the UAE, China, India, Turkey and South Korea.        

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Source: FARS News Agency

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