IRICA: Iran Enjoying $1bn Foreign Trade Surplus

Date: 15 September 2019 - 22:15

News ID: ۷۰۴۸۹

TEHRAN (Dispatches) - Iranian Customs Administration (IRICA) reported that
The country has posted a more-than-$1-billion foreign trade surplus for the 1-year period ending August 20.
Iran exported $42.88 billion of goods while imports level stood at $41.86 billion in a year time period ending on August 20, 2019, which means its foreign trade balance registered a positive volume of above one billion dollars.
Despite the tough U.S. sanctions imposed on Iran, the country could improve its trade balance from its previous $3.21 billion in the year before.
On Tuesday, Iran’s Ministry of Transportation announced that ports North and South of the country have registered a 1.9 percent increase in loading and unloading operations in the past 6 months, indicating a steady flow of trade despite the US unilateral sanctions against the country.
Iran has reported increased industrial activity, specially in the manufacturing sector, since it began to feel the impacts of the American sanctions.
Output of steel, aluminum and other metals that face high demand in the industry have surged, according to official reports, while companies that supply equipment to the oil industry, the main target of sanctions, have reported lower imports since last year.