Iran posts trade deficit of $1.6bn for 8 months to November

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News ID: 49408
Iran » Iran
Publish Date: 7:15 - 24 November 2020
Tuesday, 24 November 2020_Iran’s customs office (IRICA) has updated figures related to the country’s foreign trade, saying that declined exports in the eight months to November 20 led to a deficit of $1.6 billion in the balance of trade.

Iran posts trade deficit of $1.6bn for 8 months to NovemberIRICA chief Mehdi Mir Ashrafi said on Monday that total trade between Iran and other countries in the first eight months of the current calendar year beginning March 20, 2020 had reached $44.6 billion for 97.7 million metric tons of cargoes.

Mir Ashrafi said imports into Iran stood at $23.1 billion for 21.8 million tons of goods, a decline of 18 percent in value terms compared to the similar period in 2019.

He said basic goods accounted for nearly 75 percent of all shipments imported into Iran in the eight months to late November.

The official said Iran’s exports decreased 19 percent year on year in November to $21.5 billion, adding that the weight of the exported cargoes were nearly 75 million tons or three times the amount of shipments imported into Iran over the same period.

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