A report published by the Iran Chamber of Commerce shows that in the initial six months of the current year, the textile and pharmaceutical industries had the most negative growth. Shargh newspaper quotes Jalil Saiidlou, Member of the Board of Directors at the Pharmacist Association, as saying that the Pharmaceutical Industry has an annual turnover of 170 trillion IRR, and hospitals still owe half of this sum to pharmaceutical manufacturers. Companies which have not yet been paid for drugs delivered two years ago are unable to purchase raw material, 95% of which is imported, in order to continue production. This has led to reduction in manufacturing capacity and layoffs. The pharmaceutical and medical supplies industries need 80 trillion IRR liquidity. Otherwise, next year the nation will face a pharmaceutical crisis and new factories will face bankruptcy.
A new credit line for Iran: $10b During the last week’s visit of the Governor of the Central Bank of Iran to China, an agreement was signed to extend a 10-billion-dollar credit line between five […]
The exportation of goods via railway has grown by 55% in the past 11 months of the current Iranian fiscal year, i.e. from March 2016. Official reports from Iran Railway Transit Office say that during […]
While Iran is the world’s third largest apple producer, it is the eighth largest exporter of apples. Based on data from the Office of Agricultural Exports at the Trade Promotion Organization of Iran, in the […]