Iran posts trade deficit of $379 mln for month to late May
Iran’s customs office IRICA has updated the country’s monthly trade figures while posting a trade deficit of $379 million for the calendar month to late May.
IRICA spokesman Rouhollah Latifi said on Sunday that Iran’s trade with countries around the world had surged by over 20% in value terms to a total of $7.083 billion for the 31 days to May 21.
Latifi said exports during the same month had reached $3.352 billion for 8.579 million metric tons of cargoes sent from Iran, an increase of 27.5% year on year.
He said imports had amounted to $3.731 billion for 3.321 million tons of shipments that arrived in the Iranian ports and border gates, adding that the figure was up 19% against the same month in 2020.
IRICA figures showed that Iran’s exports were up 13% in value terms compared to the first calendar month to late April. Imports rose by 33.5% over the same period.
However, exports in the two months to late May increased by 48% against the similar period in 2020, a sign Iran has started to benefit from easing of coronavirus restrictions on global trade.
China remained the top destination for Iranian non-crude exports in the month to May 21 with $1.089 billion worth of purchases, said Latifi.
Iraq came second at $525 million followed by the United Arab Emirates at $432 million, said the official.
Balance of trade with China was in Iran’s favor at $257 million in the second month of the Persian calendar year, IRICA figures showed.
The UAE had was the top exporter to Iran over the same period as the Arab country was responsible for $1.055 billion worth of shipments sent to Iran, showed the figures.
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