Code 155354
PublishDate: Thursday, February 27, 2020 13:46

Iraq, Turkey, Afghanistan buy $1.48b of Iran’s mining products in eight months

In this period, Iran sold 8.5 million tons of mining products to these three countries, IRNA reported.
In the previous year (which ended in March 2019), Iran generated over $9.2 billion in forex revenues through exporting minerals and mining industry products, selling each ton of such items at $160.
Statistics show that during March 21-November 21, 2019, Iraq imported 5.71 million tons of Iran’s mining products valued at $798 million, accounting for 50 percent of the total figure pertaining to Iranian mining exports to the three countries.
In the same period, Turkey purchased 512,000 tons of mining products from Iran worth $393 million, while Afghanistan imported 2.27 million tons of the same items valued at $291 million.
An analysis of Iran’s foreign trade in the mining sector shows that in the same eight-month time span, the country distributed an average of 1.06 million tons of mining products worth $185 million among these three countries.
More than 500,000 are employed in the Iranian mining industry sector, of which 138,000 are involved solely in the mining sector.
Currently, the domestic mining sector uses 70 percent of country’s rail transportation capacity.
In the year to March 2019, Iran exported 28 million tons of metals worth $6.83 billion, with steel ingots constituting the major part of the overseas sales.  
In this period, Iran exported 5.5 million tons of steel ingots valued at $2.23 billion and steel products worth $1.02 billion.


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