Iran Economy in Brief – No. 25

May Iran lose Iraq’s Market?


Although recently Iran is exporting dairy products to Russia, the overall export between March 2015 to 2016, has decrease by almost 5%, reaching $530 million.

Vice Minister of Agriculture of Iran says that 9 million tones of milk are annually produced where less than 10% of it is exported. Province of Isfahan is the largest producer in the country.

Iraq is one of the main importers of Iranian diary products; though recently she has increased the import tariff by 30% to protect Iraqi producers. This seems to be a great concern for Iran.

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Sources: Ministry of Agriculture of Iran, Iran Customs Administration


Stairs or Elevators?

Germans and Italians are going to manufacture elevators and escalators in Iran, says the head of the syndicate, Mr. Shayegan.

Iranian manufacturers are currently producing 80% of the components of elevators up to 6 floors and this has created 200.000 direct and indirect jobs.

For buildings with 8 and 9 floors, 50% of the elevators’ components can be manufactured in Iran.

Until a year ago, about 75000 new elevators have been installed annually, but due to a great recession in construction and housing market in Iran, this figure was 45000 unites over the last Iranian year.

Source: Iran Syndicate of Elevators and Escalators

Mining Companies Share in Stock Market

Mining and Mining Industries make 15% of Tehran Stock Exchange. There are five-thousands mines in Iran which has made 620-thousand jobs.

Export from this sector over the last Iranian fiscal year was USD 7 billion, i.e. 21% of the total Iran’s export, nearly 40% of it were Steel products.

On the other hand, lack of advanced technologies forces Iran to import complex steel products. Over the same period, $3 billion of steel-related products were imported to Iran.

In mining and mineral industries, Iraq with 18% share of Iran’s export is the first destination, who mainly buys cement and steel.

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Source: IMIDRO


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