Iran’s Foreign Trade Soars to $117 Billion in Just 11 Months, Reports IRICA

In a significant development for Iran’s economy, the country’s non-oil foreign trade has shown impressive growth, highlighting the resilience and potential of its trade sector. According to Foroud Askari, the deputy minister of economy, this uptick underscores a positive trend in Iran’s trade activities.

During the first 11 months of the current Iranian calendar year, which spans from March 21, 2024, to February 20, 2025, Iran’s non-oil trade volume reached 176.102 million tons. This figure represents a 9.2 percent increase compared to the same period last year. Such growth is a promising indication of the country’s expanding trade landscape.

Here are some key highlights from the recent trade statistics:

• Overall Non-Oil Trade Value: The total value of non-oil trade for Iran stood at $53.376 billion during this period.
• Imports: The imported products accounted for approximately $63.606 billion, showcasing a significant growth rate of 19 percent in weight and 5.6 percent in value.
• Exports Breakdown: Iran’s export figures include:
  • Natural Gas: $6.6 billion
  • Liquefied Propane: $3.3 billion
  • Methanol: $2.1 billion

This growth in non-oil foreign trade reflects Iran’s strategic efforts to diversify its economy and reduce dependency on oil revenues. As the country continues to navigate through various economic challenges, these statistics are encouraging and suggest a robust trade framework is being established.

Furthermore, the increase in both the weight and value of imports indicates that there is a rising demand for goods within the Iranian market. This could be attributed to the government’s initiatives aimed at boosting domestic production and enhancing the overall quality of imported goods.

In addition to the impressive growth figures, Askari emphasized the importance of expanding trade relations with neighboring countries and beyond. By fostering international partnerships, Iran aims to enhance its market presence and ensure sustainable economic growth.

The implications of this growth extend beyond mere statistics. A thriving non-oil trade sector is crucial for Iran’s economic stability and can lead to increased employment opportunities and better living standards for its citizens. The government’s focus on non-oil exports is a strategic move that could potentially shield the economy from global oil price fluctuations.

In conclusion, the reported growth in Iran’s non-oil foreign trade is a testament to the country’s resilience and adaptability in challenging economic landscapes. As the Iranian government continues to implement policies that support trade diversification, the outlook for the non-oil sector appears promising. This positive trend not only boosts Iran’s economic indicators but also enhances its position in the global trade arena.

As we move forward, it will be interesting to observe how these developments shape Iran’s economic policies and influence its trade relations with other nations.