Iran’s Annual Non-Oil Trade Hits $100 Billion Record

According to Iranian Deputy Economy Minister Alireza Moqaddasi, the annual value of the country’s non-oil foreign trade in the year 1400 (March 21, 2021 - March 20, 2022) surpassed $100 billion, showing a 38% increase compared to the corresponding period a year earlier.

Describing the new record in the foreign trade as a result of exchange of 162 million tons of commodities with foreign countries, he said Iran exported 122 million tons of goods, worth $48 billion, in the previous year.

While the value of annual exports has risen by 41% compared with the year 1399, Iran imported more than 40 million tons of goods, worth $52 billion, in the year that ended a week ago, mainly including basic commodities, raw materials, and machinery, Moqaddasi, who is also head of Iran Customs Administration, noted.

He said Iran has managed to set a new record in annual exports under the pressure of harsh and cruel sanctions imposed by the hegemonic powers, meaning that the policy of maximum pressure against the Islamic Republic has failed.

The top five exporters to Iran in 1400 were the United Arab Emirates, China, Turkey, Germany and Russia, the deputy minister said, adding that the main destinations of Iran’s exports included China, Iraq, Turkey, the United Arab Emirates and Afghanistan.

In comments in January, Iranian President Ebrahim Raisi said his administration is pursuing the policy of expansion of economic and trade relations with other countries.

The president has instructed all ministries, especially the Ministry of Foreign Affairs, to activate joint commissions between Iran and other countries to develop trade and economic relations.