Non-Oil Exports to Northern Neighbours Expected to Rise

An Iranian deputy minister predicted that the country’s export of non-oil goods to five northern neighbors would rise this Iranian year given the current trend in the trade.

The value of Iran’s exports of non-oil products to Russia, Turkey, Armenia, Georgia, and the Republic of Azerbaijan stood at $2 billion in the previous Iranian year, which ended in March, Mojtaba Khosrotaj, head of the Trade Promotion Organization of Iran announced Saturday.

Speaking in a gathering of provincial governors and Iranian ambassadors to those five countries, Khosrotaj noted that the number has reached $900 million in only the first four months of the current Iranian year, saying the annual value of $3 billion will be within reach if such trend continues.

Iran has stepped up efforts in recent years to enhance non-oil exports and reduce dependence on its oil revenues.

In 2014, the country’s exports of commodities and natural-gas condensate reached $50 billion, showing a 19 percent increase.

There was also a boom in Iran’s service exports in diverse sectors, including tourism, engineering, and transit.

(Source: UNESCO, Tasnim, under Creative Commons licence)

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