CBI Chief: Iranian Crude, Non-Oil Exports Rising
TEHRAN (Dispatches) – The Governor of the Central Bank of Iran Abdolnasser Hemmati has said a growing trend in the export of crude and non-oil products in recent months has increased the supply of foreign currency needed for the imports.
In a post on his Instagram page, Hemmati said the Central Bank of Iran has managed to provide a sum of $18.5 billion over the past seven months despite the negative impacts of the coronavirus outbreak on the oil prices and the export of non-oil products.
"The growing trend in the export of crude and oil products, coupled with the acceleration of non-oil products in recent months, have improved the conditions for supplying the currency for the imports,” he added.
He also noted that the Oil Ministry has devised plans to barter oil for the basic commodities as part of efforts to raise the level of foreign trade.
Iran Mulling to Increase Oil Barter Deals
Hemmati added that his country will boost bartering oil for basic commodities in a bid to increase the volume of its foreign trade and make better use of domestic production facilities.
"The growing trend of exports of crude oil and products, along with the acceleration of non-oil exports in recent months, has created better conditions for the supply of basic goods in lieu of oil exported oil,” he said.
In a post on his Instagram page, Hemmati said the Central Bank of Iran has managed to provide a sum of $18.5 billion over the past seven months despite the negative impacts of the coronavirus outbreak on the oil prices and the export of non-oil products.
"The growing trend in the export of crude and oil products, coupled with the acceleration of non-oil products in recent months, have improved the conditions for supplying the currency for the imports,” he added.
He also noted that the Oil Ministry has devised plans to barter oil for the basic commodities as part of efforts to raise the level of foreign trade.
Iran Mulling to Increase Oil Barter Deals
Hemmati added that his country will boost bartering oil for basic commodities in a bid to increase the volume of its foreign trade and make better use of domestic production facilities.
"The growing trend of exports of crude oil and products, along with the acceleration of non-oil exports in recent months, has created better conditions for the supply of basic goods in lieu of oil exported oil,” he said.