Iran Achieves Unprecedented $57.8 Billion Non-Oil Export Record
Tehran – In a significant economic milestone, Iran has registered a record-breaking $57.8 billion in non-oil exports for the previous year, the head of the Trade Promotion Organization of Iran (TPOI) announced. This achievement, marking the first year of the 13th government’s term, underscores a resilient national economy navigating global challenges.
A Landmark Year for Exports
Mohammad Ali Dehghan-Dehnavi revealed the historic figures during a press conference held on the occasion of National Export Day. He described the period as “one of the most brilliant years in the country’s export history,” highlighting that oil exports also saw a concurrent growth of 15.8 percent.
“This record is unprecedented,” Dehghan-Dehnavi stated, pointing to the successful strategic direction that has bolstered Iran’s international trade standing.
Resilient Growth Amidst Challenges
The official provided a detailed breakdown of the current year’s performance, acknowledging initial hurdles. The first half of the current Iranian year (started March 2024) began with a noticeable decline in exports, attributed to challenges such as energy shortages and widespread power outages that impacted industrial sectors.
However, demonstrating effective economic management, the nation successfully compensated for the initial shortfall. By the end of the first six months, non-oil exports had not only recovered but had grown by 15 percent in value compared to the same period last year.
“The total value of non-oil exports in the first half of this year reached $25.944 billion, up from $25.922 billion in the previous year’s same period,” Dehghan-Dehnavi reported, adding that exports also saw a 6 percent increase in weight.
A Strengthened Trade Balance
A key indicator of economic health, Iran’s trade balance, has shown remarkable improvement. Despite a reduction in overall trade volume, the country’s trade deficit has narrowed dramatically.
The trade balance improved from a negative $7.5 billion in the first half of last year to a negative $4 billion this year—a 68 percent enhancement. This positive shift is partly due to a strategic 15 percent reduction in imports, which fell from $33.463 billion to $28.367 billion, focusing on managing non-essential goods.
Strategic Focus and Future Goals
Dehghan-Dehnavi explained that despite energy limitations affecting some production chains, the strategy was adapted to focus more on the export of intermediate goods. Looking forward, the country has set an ambitious annual export growth target of 23 percent.
“Achieving this positive and sustainable growth is possible through continuous effort, extensive measures, planning, dynamism, and cooperation with the private sector,” the TPOI chief emphasized.
National Export Week: A New Initiative
To further galvanize the export sector, this year’s National Export Day has been expanded into a week-long series of events. Each day is dedicated to a specific theme, including export legislation, service exports, export-oriented production, international markets, and investment for exports.
Dehghan-Dehnavi also highlighted impressive growth in service exports, with engineering services rising from $600 million to $900 million and other services, including IT, growing from $885 million to $1.26 billion.
The official concluded by calling on all media outlets to provide comprehensive coverage of the initiatives and solutions presented during Export Week, and expressed hope that by honoring the nation’s top exporters, their vital services would be duly recognized.
