Iran on Monday showed Iran, carried by Fars News Agency, had a trade deficit of $71.6 billion from September last year.
The report said Iran has declared a trade deficit since 2021, adding that its deficit reached $6.333 billion a year in March 2023.
He added that the main reason for the rise in Iran’s trade deficit is the decline in the value of the country’s exported goods, adding that the average value of these shipments is almost one-fifth of the goods and goods imported into Iran last year.
Customs figures listed in the report showed that the United Arab Emirates (UAE), China and Turkey were responsible for approximately 72.4% of total exports to Iran from late September to late September last year.
The report said that the majority of Iran has been shipped to China and Iraq in recent years.
“This focus means more vulnerability to political, economic and trade shocks in these countries,” it said, recommending diversification of Iran’s trading partners to narrow the current deficit.
Iran’s customs figures show a trade deficit of $14.6 billion from calendar year to March 20th, but experts denounced the huge deficit of huge gold imports into the country last year as part of the government’s anti-relief policy.
Iran’s trade deficit for the two calendar months ended May 21 reached $0.230 million, according to figures released by the government earlier this month.
MNA