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Raw materials remain dominant in Iran's non-oil export basket
Feb 21, 2018 (TREND News Agency via COMTEX) --

Baku, Azerbaijan, Feb. 21รข??

By Gazenfer Hamidov - Trend:

Iran's annual target of $53 billion worth of non-oil exports has materialized by 70 percent during the first 10 months of the current fiscal year, started March 2017.

The latest official statistics indicate that Iran has exported $37.1 billion worth of non-oil goods (including gas condensates) during the first 10 months of the current fiscal year (March 20, 2017-Jan. 21), which is equal to 84 percent of targeted figure for the period ($44.17 billion).

The Islamic Republic has increased its export target by $3 billion for the current fiscal year (March 20, 2017-2018) to $53 billion, despite the fact that the country's non-oil exports stood at $43.93 billion in the one-year period to March 2017.

Iran's non-oil exports registered a rise by 1.7 percent in terms of value, year-on-year during the 10-month period to Jan. 21, according to a report from the Islamic Republic's Trade Promotion Organization (TPOI).

Raw materials share the dominant part of Iran's non-oil export basket. Gas condensates, propane, butane and some other raw petroleum products - which Iran puts in the non-oil exports basket - made the country's top exported goods during the 9-month period.

During the period, the country had exported $5.679 billion worth of condensate (8 percent less, year on year).

Liquefied natural gas($1.927 billion, 1 percent fall), liquefied propane (worth $1.213 billion, 22 percent increase), gasoline excluded light oils and products (worth $997 million, 51 percent fall), methanol (worth $984 million, 31 percent more year-on-year), iron ore(worth $845 million, 42 percent increase), semi-completed iron and steel products (worth $771 million, 300 percent increase), pistachio($762 million, 8 percent fall), liquefied butane ($744 million, 20 percent increase) and film grade polyethylene (worth $652 million, 19 percent decrease) where other top exported goods in the 10-month period (March 20-Jan. 21).

As seen all of Iran's top exports are raw materials or semi-processed oil and mineral products.

Iran's trade balance during the 10-month period witnessed a fall by 523 percent and became negative (-5.718 billion), after experiencing a positive balance previous year.

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